The SEC is too busy watching porn. They could care less if you or I lose money to these shameless scammers. I say best of luck to the guy who is suing these worthless piles of steaming monkey intestines. I get tons of useless emails clogging up my inbox every day touting scams. Anyone holding this stock who isn't on the inside should dump now.
Actually Pennystocks, which means any Stock under $5 Dollars, are not required to report anything to the SEC. Any Start up company whose shares are in the pennies, have no legal obligation to file with the SEC. Some Companies do anyways to look as though they are legit which is a joke. Most pennies are pump and Dump Schemes.