Posted On: 07/19/2015 10:51:37 AM
Post# of 43065
I see some talk about the SEC and OSC. I can tell you the real pattern in penny stocks is that eventually some of the longs will complain bitterly that the SEC and OSC didn't do enough to protect them.
However the SEC can't do much more than go through the courts or suspend trading stocks. I'm all for having the SEC go through the judicial system just like everyone else and, in my opinion, even the power to suspend trading in stocks for longer than a day is too much. Suspensions should be just long enough to make sure investors understand any developments.
I believe the OSC and SEC did an excellent job in protecting investors. Both charged Mr. Bordynuik and PTOI with fraud. I would say that 95% of people would immediately understand those fraud implications when evaluating the credibility of a swindler who claimed to have developed the world's greatest pyrolysis process. Those who weren't smart enough to understand the ramifications or who instead attacked the SEC and OSC, found themselves proudly and defensively holding their $1.40 stock for the next few years.
And again, even if investors want to forgive the fraud and other deception perpetrated by PTOI, the other options are to press PTOI for answers as to the actual results of the process, to evaluate why PTOI chooses not to share that information about the results, to do the math on how useless it would be to convert scrap plastic into fuel or to note that PTOI has shown constant delays for well over six years. One final option is to continue to have faith and patience for as long as it takes because some random tidbit given to investors by PTOI made those investors decide that PTOI is the real deal.
However the SEC can't do much more than go through the courts or suspend trading stocks. I'm all for having the SEC go through the judicial system just like everyone else and, in my opinion, even the power to suspend trading in stocks for longer than a day is too much. Suspensions should be just long enough to make sure investors understand any developments.
I believe the OSC and SEC did an excellent job in protecting investors. Both charged Mr. Bordynuik and PTOI with fraud. I would say that 95% of people would immediately understand those fraud implications when evaluating the credibility of a swindler who claimed to have developed the world's greatest pyrolysis process. Those who weren't smart enough to understand the ramifications or who instead attacked the SEC and OSC, found themselves proudly and defensively holding their $1.40 stock for the next few years.
And again, even if investors want to forgive the fraud and other deception perpetrated by PTOI, the other options are to press PTOI for answers as to the actual results of the process, to evaluate why PTOI chooses not to share that information about the results, to do the math on how useless it would be to convert scrap plastic into fuel or to note that PTOI has shown constant delays for well over six years. One final option is to continue to have faith and patience for as long as it takes because some random tidbit given to investors by PTOI made those investors decide that PTOI is the real deal.
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
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