IMC Mortgage Co. (fka IMCC)

[Renee]

Sideways: All SEC Suspensions are for exactly ten days. Thereafter the suspended stock can only trade on the Grey Market where NO Market Maker is permitted to quote the stock, ie., no bids, no asks, and no size of order on either a purchase or sell order. Buys and sells are still permitted but no-one is allowed to know how many shares are being offered for sale or for purchase, or for whatever price is being offered for buy or sell. The Grey Market is synonymous with a blind market.

Excerpt from the Suspension:

http://www.sec.gov/litigation/suspensions/2012/34-66980.pdf

Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule.

It is likely the SEC Admin Law Judge (ALJ) will revoke the registrations of all 379 stocks as the ALJ has done to most suspended stocks. Regretably, if IMCC does get its registration revoked it would mean that you would still own the shares but those shares could never be sold.

I recently started an SEC Suspensions and Revocations board. So far I have only covered suspended and revoked stocks for all of 2010 and half of 2011. It is my intention to post all Suspensions and Revocations up to the present time. Still, there are ample postings of other suspended and revoked stocks for you to see the probable outcome for IMCC.

If you have the time please read as many posts as you can.

http://investorshub.advfn.com/SEC-Suspensions-&-Revocations-25334/