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Have you really followed what the SEC is saying about these bitcoin companies?
The SEC has stated numerous opinions that these companies are shells with NO intrinsic value....you put your money on an electronic ledger and spend it as a fictional fiat currency!
Please explain how a company can show $0 on q but spend $1.5M undocumented cash!
ARSC went from $0.25 to $3 and now back down to $0.70 before suspension.
Again read the Q....no value!
I don't really care about warning, just what to look out for. reading this suspension note then looking at the corresponding PR's that are referenced leads me to believe this was halted for merely being a blockchain company or something.
I agree - suspensions hurt the little guy too - in this case they gave some warning, but I think they could have given more.
thats fine, and it very well may be a scam and this suspension is well deserved. but at least give some valid reasoning so investors can avoid SCAMS
I tend to agree with you - but this company is run by scammers and this is just a way to shut them down for now - the bitcoin angle, while in its infancy, was just the latest in a series of scams - I think they got ARSC before they could go full-on bitcoin scam, but we all knew where they were going with this....I think they had their eyes on these guys for awhile...
none of that was put in the reason for suspension, and acquiring some random company/app that is loosely associated with blockchain tech is hardly reason a for halting a company.
Read the last Q...lots of questions!
Minining for Lithium and cobalt...really?
$1.5M CASH deal for Kaching...No income reported! That's a pretty glaring red flag.
And now switching from Hydrogen technology to bitcoin?
Lastly look at the RS and it still shows 20B AS after a 1:2500 split! Wow...and they want to issue 3B shares!
I may be wrong on this but I'm pretty sure ARSC is registered in NV and I'm pretty sure NV only allows 4.5B AS.
I for one do not care the color of the market it will end up as long as they go after Frankie N he the source of this decease!! He should not be allowed to run a company..
If the SEC doesn't get what they want out of them, they will go to the grey market.
the sec is not requesting anything. grey market is automatic.
If the SEC doesn't get what they want out of them, they will go to the grey market.
The SEC has done its thing. If it decides to take the matter further, with a civil lawsuit, that's unlikely to happen for several years.
Lets all calm down and let the SEC do their thing.
Again, you don't know what the SEC knows. And if those PRs contained misstatements of fact, that's a problem.
Well maybe I should take it up with this particular attorney, but I'm not looking for anything in depth. Just say unusual trading volume, or delinquent filings, or question about certain assets or like here, claims in PRs. But more specifically, here they mention two PRs that reveal basically nothing outlandish. if this company was halted for those PRs alone, then there are some serious problems with how the SEC is conducting their decisions IMO.
"the company's business transition to the cryptocurrency markets and early adoption of blockchain technology"
so maybe the fact that they would be early adopters of blockchain technology implies that they were early investors in certain cryptos and would reap the rewards of owning large amounts?
the world may never know...
They don't reveal much in suspension notices. I can think of only three or four that were really specific. They're written by the attorney who investigated the company, and it's up to that person to phrase it however he likes.
I understand, but what does that even mean? Warning the public about crypto and then suspending any stock that enters the space even though it's doing nothing wrong? I'm sure this one did something wrong, but why don't you tell the public like nearly every other suspension
The SEC warned about cryptocurrencies on 25 July. It would have been wise for people to pay attention. And once the first--STBV--was suspended, all bets were off for any crypto stock.
Obviously, but the reasons alluded to usually fit the bill. It's hard to know what companies to avoid as an investor when this company ARSC is barely claiming anything in their PRs besides simply changing their name and acquiring some modest app company. If they claimed some kind of huge assets, a large business connection, were delinquent in their filings, etc. then I can see why. The SEC does tend to include reasons that make sense, this one just doesn't, and is particularly troublesome going forward
Well, that doesn't say much. Most suspension notices don't.
I edited my post several times, but I was more focused on the reason for suspension:
"The Commission temporarily suspended trading in the securities of ARSC because of questions that have arisen regarding publicly available information about the company in press releases on OTCMarkets.com, dated August 1, and August 8, 2017, concerning, among other things, the company's business transition to the cryptocurrency markets and early adoption of blockchain technology. This order was entered pursuant to Section 12(k) of the Exchange Act."
The PRs that the company put out hardly claim anything at all, I find it hard to believe it was suspended for acquiring some website/app and changing their name. if the reason was some kind of, say pump campaign, then just say it in the reason for halt.
It's disconcerting to say the least as an investor to see a company halted for those reasons. It almost reads as if they will target anything cryptocurrency no matter what... and then mislead the public as to why they are going after said companies. like I said, my suspicion is something to do with a pump campaign that they dont want to talk about, but that remains to be seen (if it ever will be).
ARSC certainly isn't as high profile a company as some of the others. But I'm afraid no suspension is benign. The damage has been done.
I never followed the stock, so I don't know what they were up to. As you say, the SEC is likely to know more.
janice, that alert talks about ICOs, and many of the recent suspensions are of companies that acquire or even seem to mention Bitcoin or cryptocurrency related matters.
more specifically, the suspension here seems to be egregious as the aforementioned 2 press releases put out that resulted in this suspension read as rather benign.
of course, the SEC knows more than the average investor so the suspension here very well may be warranted, but on the surface the reasoning and what the company has put out in the recent PRs show no real foul play of any kind.
any ideas?
(never held a position in this company)
I did check and the Moola is in my account thats why I posted it,
Thanks for your concern over my well being
well, the suspension was at 09:30 so you might want to double check to see if that trade wasn't busted. the tape shows no trades today.
Well that was stroke of luck, Sold out of ARSC this morning at .09c right before it got halted.
8/25/2017 9:50:54 AM ET Sold XX00 ARSC @ $0.9
Scottrade was down all day, PHEW! that was close
ARSC will be fine, from Hydrogen to Crypto, whats not to love, lol.
I think they'll continue with suspensions for the next few months...
I'm familiar with how quickly the SEC acts. But within the past 30 days, it has suspended four cryptocurrency related OTC stocks.
Maybe it will allow the rest to slide.
Given how many OTC companies morphed themselves into reefer stocks, I wouldn't be surprised to see more appear.
The Alert? On 25 July.
When was this issued in this case?
This is the Investor Alert that preceded all the recent suspensions:
https://www.investor.gov/additional-resources/news-alerts/alerts-bulletins/investor-bulletin-initial-coin-offerings
I'm just nervous about their motives and with the power the sec has and with any prodding by higher powers anything can happen. I try not to be a conspiracy theorist but the case could be made.
Thank you for your reply. I'm sitting out for a bit until the dust settles. Hoping (ha ha but won't happen) the SEC comes out with something that indicates those in this sector that are doing everything right and are not a concern, at the moment. I love this sector and won't to be in it so bad but adding this element on top of it all being otc is just too much to bear.
At a guess, I'd say they will suspend more, but won't suspend them all. They have limited manpower, and can't investigate them all. Probably, as with pot stocks in 2014, they're going after the low-hanging fruit in the hope of cooling off the sector.
I see Randy Moseley is involved here. He was Michael Alexander's sidekick in SWRF (now SOUM). That was an absolutely insane scam. Alexander claimed in his first press release that someone had "given" the company 31 million KILOS of gold. Which was in the vault of a Swiss bank, naturally. It only became more ridiculous from there.
And before SWRF, Moseley was involved as CFO of the notorious CSHD. Rufus Harris, the CEO, is spending 23 years in federal prison for that one. Somehow, Alexander and Moseley got off scot free.
I've noticed that you seem to know your stuff and I'm impressed by your experience and knowledge. In your opinion is any of the bitcoin plays that won't be subjected to the latest sec moves of this sector? I jumped out of it all this morning but really believe in gbtc digaf sing and maybe gahc. Thoughts?
I sold my position 2 weeks ago after a little due diligence, and it was more than just the R/S of why the market cap, and pps increased. Anyhow, happy trading day.
There've been four altogether: STBV, CIAU, BITCF, and now ARSC.
No doubt there will be more.
It only went up because of the r/s. There's no real company here.
Sorry for your loss.
So glad to hear that...nice move on deciding to get out!
Typically, a halted stock reopens 2 weeks from the day it is halted, BUT not back on the pinks, but on the UGLY grey market instead! Most companies, 99% of them, never return from the greys, where one must trade blindly because there are no market makers there. Its basically a death sentence given by the SEC to any company! A company's PPS usually gaps down 80% immediately after reopening, and from there she will eventually hit triple zeros or .0001. Anyone stuck here should sell as quickly as possible once she reopens, and get back whatever you can, and afterward lick your wounds, and learn from this experience...hate seeing anyone get stuck in a halted stock...crooked stinky pinky company's!
Good luck to everyone trying to get out!
Wow, I didn't think it was going to happen that quick. Hate to see anyone stuck here!
Well there you have it, for once my observation was correct.
Next they should lock him up!
ARSC SEC Suspension:
https://www.sec.gov/litigation/suspensions/2017/34-81481.pdf
Order:
https://www.sec.gov/litigation/suspensions/2017/34-81481-o.pdf
The Commission temporarily suspended trading in the securities of ARSC because of questions that have arisen regarding publicly available information about the company in press releases on OTCMarkets.com, dated August 1, and August 8, 2017, concerning, among other things, the
company’s business transition to the cryptocurrency markets and early adoption of blockchain technology.
FYI: SEC suspended trading on a similar pink sheet company operating in Bitcoin field yesterday. Within a 12 month period BITCF saw a 6000 percent increase to their market cap in 2017, and a 24,000 percent increase to their PPS. What's happening here with the increase to ARSC market cap, and its PPS in such a short time may have SEC checking into it due to what just happened with BITCF.
BITCF SEC Suspension:
https://www.sec.gov/litigation/suspensions/2017/34-81474.pdf
The Commission temporarily suspended trading in the securities of BITCF because of concerns regarding the accuracy and adequacy of publicly available information about the company including, among other things, the value of BITCF’s assets and its capital structure.
IMO, its someone not doing due diligence on this stinky pinky, and trading based on the 20, and/or 50 MA in hopes that the pps will continue to climb, and definitely not a misprint.
Who bought 3100 shares @ $1.20? Is that a misprint???
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AMERICAN SECURITY RESOURCES CORPORATION (the "Company" or ARSC) is a holding company with three wholly owned subsidiaries. Hydra Fuel Cell Corporation has completed several development stages of the HydraStax® unit and testing for certification is currently underway. We have two additional subsidiaries. We formed American Security Capital Corporation that is to provide financing options for the sales of products created by Hydra Fuel Cell and American Hydrogen Corporation. American Hydrogen Corporation is developing technologies to formulate hydrogen that we hope will change the economics of producing hydrogen sufficiently to enable the hydrogen economy.
Name | | Positions Held | | Date of Election or Designation |
| | | | |
Robert C. Farr | | President/COO | | 11/23/05 |
| | Director | | 10/27/04 |
| | | | |
Frank Neukomm | | Director | | 02/25/04 |
| | Secretary | | 11/08/04 |
| | Chairman/CEO | | 11/21/05 |
| | | | |
Robert J. Wilson | | Director | | 07/21/05 |
| | | | |
Marlin Williford | | CFO (1) | | 07/05/07 |
| | | | |
Sam Lindsey | | CFO (1) | | 11/1/08 |
John A. Wilkinson | | CFO (1) | | 04/08/09 |
John A. Wilkinson | | CFO (1) | | 04/1/09 |
Alvie T. Merrill | | Director | | 10/11/06 |
| | | | |
James R. Twedt | | Director | | 10/11/06 |
| | | | |
R. Brian Klock | | Director | | 01/10/09 |
(1) | Mr. Williford performed the Chief Financial Officer duties for the Company on a contract basis until he was replaced by Mr. Lindsey. Mr. Lindsey was replaced by John A. Wilkinson CPA in April 2009 |
Hydra Fuel Cell Corporation is committed to developing clean, quiet, alternative energy solutions to conserve the earth's natural resources, minimize pollution, and protect our wildlife.
PRODUCTS & SPECIFICATIONS:
Distributors: Green City Solutions, Conexa Services, Pathfinder's & Associates, Inc.
To learn more about Hydra Fuel Corporation's products, please contact us via email at: solutions@hydrafuelcell.com or info@homepowerfuelcell.com
____________________________________________________________________________________
Website: www.americanhydrogencorporation.com/
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