September 6, 2021
Allowing a person/entity to allow issuing warrants in a company with no trust (cash reserve) opens investors up to a lot of fraud.
If allowed, SEC should designate such vehicle to investable by sophisticated investors onlyx
Once the warrants starts trading, issuer can sell down their warrant position to other buyers, never do a single transaction and walk away making profit. The liquidity in financial market is plenty and this seems like another way a sponsor can really scam a retail. Please do not allow such a scheme that can easily be manipulated in the future.