MTEI - Mountain Energy - No BASHING Allowed Message Board

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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed

MTEI 0.00400

-14.9%

Nov 18 9:31 AM EST

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To: Brukie who wrote (11026)	11/7/1998 4:50:00 PM
From: Sharon	Read Replies (1) of 11684

Brukie, it is my understanding, a SEC investigation and cleaning up the shell are two different matters (in a sense). The SEC investigates "an event" "certain parties" to assure that trading rules are not or have not been broken. In the event they have, the SEC pursues whatever legal action is necessary to correct or bring charges as necessary. The purpose being, to clean up the illegal actions/trading of a publicaly traded company (not a shell). Owners of the company can then pursue what they want to do with the company...ie..offer it as a shell to a legitimate company wanting to go public or close the doors down. The purpose of the investigation is not to specifically get our money back or bring action against the company on shareholders behalf it is to bring action, pertaining to SEC rules against a company /parties involved...in the course of events, should they find reason to seek to make the victims whole I'm sure depends on specific circumstances and rulings. Now let us suppose the SEC finds everything just hunky doory. The share holders now own a company that has been thoroughly investigated and is therefore in a position to trade again legitimately. Or the SEC finds illegal actions...they will pursue legal action against the action and/or those responsible. The company is now "cleansed" of the civil or criminal actions. If there is "on going business" I assume the company can proceed with trading. If there is no business left "assets/accounts etc." It probably is a candidate to serve as a shell to a legitimate company wanting to go public. The "company" then seeks legal counsel to proceed. Now let us assume there has been wrong doing either civil or criminal, shareholders can then seek legal counsel regarding their rights regarding litigation as it pertains to the findings of investigation. Do you really want this company put out there without a thorough investigation? That's what it sounds like you are exploring. There are NO shareholder "representatives" of this company....only a bunch of "workers" that have tried to gather information and attempt to move it into responsible hands and resources to get this mess moving in a positive and legitimate direction. There are points of contact so the wheel is not being invented over and over. Seems to me there has been a lot of progress made, vs some scams where folks just take their lumps and move on. Doesn't help resolve the problem. Look at the number of companies that are just in limbo and will probably always be there. Perhaps I have oversimplified this or have missed some point. Anyone feel free to jump in here.

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