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Microcap & Penny Stocks : DCI Telecommunications - DCTC Today
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To: Bill Brogan who wrote (16179)5/6/1999 5:13:00 PM
From: Colin Cody  Read Replies (1) of 19331
 
re: I want to know:
my 2c

#1 The SEC is not your friend. If you want to chat, find someone else to chat with.

#2 The SEC now reads this thread. They have already read your two very good questions, but they are not answering us! (g)

1. Was this action instigated by a third party's "tip" to the SEC of some apparent wrongdoing (a la our hostile suitor friend)?
Good rhetorical question, as we know it OBVIOUSLY was - but
The SEC response will likely be "that's none of your business."
or even: "what wrongdoings do you know about?"

2. Why the trading suspension if the pooling of assets method of accounting is still acceptable while other companies are successfully using this method? Was there something in the financial statements that reeked of misrepresentation or obvious illegal activity?
While I think this is an EXCELLENT question:-
The SEC response will likely be "we can not comment on that"

If anybody else has any questions they'd like to have asked let me know and if I can get through to Mr. Muoio and he is willing to discuss this with me I'll be sure to ask...
IMO, the SEC is not there to have a discussion with concerned parties.
They are there to accumulate "evidence of wrongdoing"

I would think of them like I would a uniformed police officer standing on the sidewalk immediately after a bank robbery. Some people suggest that you keep your discussions with them at the same level you would with that cop, after all that's what their job is: COP.

If you want a friendly SEC/NASD inquiry line for general questions (SEC will NEVER comment on an ongoing investigation, past investigation or future investigation) try:

(212) 748-8000 "Branch of Broker-Dealer Enforcement and Interpretations"

(301) 590-6434 "NASD Market Surveillance Group"

(202) 942-8088 "SEC General Information line"

(202) 272-3100 "Questions answered via Automated Computer line"
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