One of the problems with these penny stocks that get suspended for trading is that they're usually hooked up with some crooked investors and of course many of them are P&D's. How does the SEC weed out ( no pun intended ) the bad guy vs the individual who decides to jump on the back of the fraud and make a few bucks themselves. Not defending the SEC but if you look at how many people are employed by the SEC you know there is no way they can thoroughly watch over all the public companies that are out there.

If a company starts using the ole LOI trick it's probably time to bail! They can issue LOI's for years with nothing ever becoming anything with any of them before they finally get the SEC after them. I would consider an LOI the kiss of death although you may get a bit more out of your investment when first announced.

Good luck to yourself and good thing you didn't throw much cash if any at that company!

Have a great day and coming weekend...................!