Oh GREAT! We've been SUSPENDED from trading for being non-compliant.
I got SOOOOOoooooo excited when I saw 5 NEWS hits!! Crap- I thought it was RM news or something GOOD.
Has anyone ever been through this before - and if so, any idea how long it may be until QTEK complies and we're good to go???
Or are we dead in the water???? TIA
UPDATE: SEC Suspends Trading Of 7 More Noncompliant Companies
Last update: 5/24/2012 10:26:58 AM
--SEC suspends trading of seven stocks over questions concerning available public information
--SEC has been ramping up efforts to crack down on companies that are dormant or delinquent in their public disclosures.
(Updated to include suspension of Indocan Resources Inc.)
DOW JONES NEWSWIRES
The U.S. Securities and Exchange Commission temporarily suspended trading of Indocan Resources Inc. (IDCN) because of questions concerning the adequacy of the company's publicly available information.
The Morehead City, N.C., company trades in the over-the-counter markets and the suspension ends June 7.
The SEC also suspended trading of six other stocks through June 6, as the regulator continues to crack down on companies that haven't filed periodic reports.
The suspended companies are Quintek Technologies Inc. (QTEK); Saint James Co. (STJC); Urigen Pharmaceuticals Inc. (URGP); Valor Energy Corp. (VLEN); Wherify Wireless Inc. (WFYW); and WinWin Gaming Inc. (WNWN).
The SEC has halted trading of several noncompliant companies over the past year as it ramps up efforts to crack down on fraud, such as pump-and-dump schemes, involving microcap companies that are dormant or delinquent in their public disclosures. Microcap firms typically have limited assets and low-priced stock that trades in low volumes.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; email@example.com
(END) Dow Jones Newswires
May 24, 2012 10:26 ET (14:26 GMT)
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