Need not dig for a conspiracy. The simplest explan

Need not dig for a conspiracy. The simplest explanation is the SEC is just doing its job as set forth in Securities Act of 1934 and subsequent amendments. One of the SEC's primary mandates is to protect investors from securities fraud. Pursuant to this mandate and, in this case, the SEC had access to financial statements, basic pink disclosures, other OTCM data, press releases, and Q&A's. Anyone who studies these will note serious irregularities in their financials along with questions as to how they conduct and publicly report their business affairs. The OTCM was apparently aware of some of these problems, which can explain why they demoted SK3 and would not uptier in spite of SK3 satisfying pro forma requirements. OTCM intransigence was the biggest red flag of all, although that too was blithely dismissed or swept under carpet.

As a footnote, the SEC doesn't suspend a ticker unless agency lawyers believe the decision to suspend will survive litigation, in other words, unless they have the goods on the company or, in this particular case, the companies in question (SKTO/AEGY)