Noble Consolidated Industries was revoked by the SEC today for failure to file its required documents with the Commission.
By itself, the name, and its time as Noble, was not very interesting, although Noble was itself later in its life also a pretty obvious (and mostly unsuccessful) pump and dump based on tremendously exaggerated claims of a refining operation outside of Reno. Instead, the Company's claim to fame came earlier when it was known as US Canadian Minerals.
Not only was US Canadian an integral and important part of the CMKX fiasco, it was an interesting pump and dump scheme all on its own after CMKX was shut down and the insiders charged. US Canadian acquired an 80% interest (from El Capitan) in a worthless and mined out old mine in Arizona and pumped the stock by way of a bogus and non-compliant "NI 43-101" technical report. This bogus NI 43-101 report not only was the direct cause of US Canadian to be suspended by the SEC in 2009 (and, ultimately to the revocation as the suspension halted the pump and dump in its tracks), but also signaled the SEC's new focus on US companies illegally using NI 43-101 reports, which they are not allowed to do. Since the US Canadian suspension and investigation, the SEC has been cracking down strongly on the illegal use of "NI 43-101 reports" by US companies. And rightly so, since the vast majority of these so called "NI 43-101 reports" claimed by US companies are not only non-compliant and not actual "NI 43-101" reports, they are almost all lacking in scientific facts, if not completely and intentionally fraudulent.
The SEC action also led to regulators in British Columbia taking action against the geologist who wrote the bogus NI 43-101 report, and signaled a new emphasis by Canadian regulators to crack down on not only bogus and non-compliant NI 43-101 reports, but also their fraudulent use by US penny stock companies. Certainly not as strongly as they should, but clearly quite a few recent SEC actions against US violators were instigated by Canadian regulators who are now taking the non-compliant use of these bogus reports very seriously as a threat to the good name of their regulations.
Although Noble/US Canadian Minerals is justifiably vanquished forever, and the stock fraud surrounding the stock will not be missed, we can at least say that some good came from its existence. Or more accurately, the actions taken by the regulators to shut it down and get rid of it.
