That’s right it’s not a stuff up it’s a request the SEC has been issuing across the board - they are getting the companies to collate info easily for their internal digestion.
hence Kazia’s response to pointing to where the figures are in the already filed submissions.
The SEC under Gary Gensler has been outrageously aggressive across the board and it’s coming undone with many senators in the US from both parties questioning overreach by the SEC under his tenure.
In the crypto space particularly with the SEC vs RIPPLE case which is expected to settle at some point due to irregularities from the SEC desperately trying to not divulge 63 internal emails related to the case… it’s been noted the same blanket issuance of communications to quickly assemble a potential hit list of those with unusual answers/situations.
ours is not unusual and we are compliant
This letter was issued as a blanket action going out to all companies in a particular cohort - nothing to do with our previous reporting it’s a sweep to see what oddities might easily be found and then they focus to those respondents…
it’s a numbers game to get as many as possible as easy as possible Its clear Gary Gensler is gunning for a treasury position as the next career step.
it was the same with crypto - they have said all crypto might be a security and need to register with the SEC those that do are now on the radar - it’s the low hanging fruit generated from a sweep.
it’s a numbers game.
there is nothing in this at all - we are well run and how Kazia has responded is appropriate - we have complied!
