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SEC Temporary Suspension Announcement | 02/23/2021

 

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 91182 / February 22, 2021

The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934, of trading in the securities of Bangi, Inc. (BNGI) (CIK No. 0001327238), a defaulted Nevada corporation based in Grosse Pointe Farms, Michigan at 9:30 a.m. EST on February 23, 2021 and terminating at 11:59 p.m. EST on March 8, 2021.

The Commission temporarily suspended trading in the securities of BNGI because of questions regarding the accuracy and adequacy of information about BNGI and its securities in the marketplace concerning, among other things, BNGI's activities, and potentially fraudulent trading activity affecting the market for its securities, including: (a) since at least mid-January 2021, certain social media accounts may be engaged in a coordinated attempt to artificially influence BNGI's share price; and (b) BNGI's share price and trading volume have greatly increased since at least mid-January 2021 in the absence of any publicly available news from BNGI.

The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.

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. If any broker or dealer has any questions as to whether or not it has complied with the rule, it should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5777. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, it should refrain from entering quotations relating to BNGI securities until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

If any broker-dealer or other person has any information that may relate to this matter, they should immediately contact Ana D. Petrovic, Assistant Regional Director, at (312) 886-8176. The Commission appreciates the assistance of the Financial Industry Regulatory Authority.






BNGI Bangi Inc


Authorized Shares
 
 
Authorized Shares 9,997,999,997
 
Outstanding Shares
 
Outstanding Shares 8,061,487,035 05/08/2020
 
Outstanding Shares 7,361,487,035 10/28/2019

Outstanding Shares 6,711,487,035 10/18/2019

Outstanding Shares 5,561,487,035 09/10/2019

Outstanding Shares 4,246,827,035 As of January 31, 2019

 
Outstanding Shares 3,997,999,997 11/21/2018


https://www.otcmarkets.com/stock/BNGI/security


 
 
 


Investor notification of a Fundanna website change:




ORIGINAL BEFORE THE OFFERING WAS CLOSED. 

Irregular Use of Proceeds 
The Company may make Irregular Use of Proceeds. Such Irregular Use of Proceeds, which may be in material amounts in excess of $10,000, may include by way of example and not limitation: Vendor payments and salary made to management, business associates, relatives, related parties and/or affiliates thereof; expenses labeled "Administration Expenses" that are not strictly for administrative purposes; expenses labeled "Travel and Entertainment"; and expenses that are for the purposes of intercompany debt or back payments. 

Without limiting the above, the Company may elect to vary from the proposed use of funds as circumstances or assessments of circumstances following the closing change. 



Present 

Use of Proceeds 
The allocation of the use of proceeds among the categories of anticipated expenditures represents management’s best estimates based on the current status of the Company’s proposed operations, plans, investment objectives, capital requirements, and financial conditions. Future events, including changes in economic or competitive conditions of our business plan or the completion of less than the total Offering, may cause the Company to modify the above-described allocation of proceeds. The Company’s use of proceeds may vary significantly in the event any of the Company’s assumptions prove inaccurate. We will retain broad discretion in the allocation of the net proceeds from this Offering, reserve the right to change the allocation of net proceeds from the Offering as unanticipated events or opportunities arise and could utilize the proceeds in ways that do not necessarily improve our results of operations or enhance the value of our Common Stock. Additionally, the Company may from time to time need to raise more capital to address future needs that we may not have anticipated as of the date of this Offering Circular. 

https://www.sec.gov/smallbusiness/exemptofferings/regcrowdfunding 


Accela Cases 
Case Number Dept. Filed Planner Project Name Status 
08EXE-00000-00047 P 2/22/2008 BB GALLUP&STRIBLING FARM COMBO SIGN Closed 
09CNS-00000-00012 P 3/13/2009 JH STRIBLING REZONE Closed 
09CUP-00000-00052 P 12/18/2009 ML VERIZON @ GALLUP & STRIBLING NURSERY Closed 
10BAR-00000-00059 P 4/6/2010 AH VERIZON @ GALLUP & STRIBLING NURSERY In Review 
18EMP-00000-00003 P 3/2/2018 KL SOUTHERN CALIFORNIA GAS REPAIR In Review 
18CNS-00000-00046 P 8/15/2018 SM LOUIS ARMSTRONG, LLC - CANNABIS CONSULTATION Closed 
18ZEV-00000-00276 E 10/19/2018 SM WELTY UNPERMITTED STRUCTURES In Suspension 
18BDV-00000-00110 E 10/19/2018 SM WELTY UNPERMITTED GREENHOUSES Violation Processing 
19CDP-00000-00004 P 1/24/2019 ME LOUIS ARMSTRONG AND ASSOCIATES LLC - CANNABIS CULTIVATON In Review 
19CUP-00000-00002 P 1/24/2019 ME LOUIS ARMSTRONG AND ASSOCIATES LLC - CANNABIS CULTIVATON Awaiting Applicant Action 
19DVP-00000-00008 P 1/24/2019 ME LOUIS ARMSTRONG AND ASSOCIATES LLC - CANNABIS CULTIVATON Awaiting Applicant Action 
19BAR-00000-00077 P 4/18/2019 LG LOUIS ARMSTRONG AND ASSOCIATES LLC - GREENHOUSE IMPROVEMENTS Conceptual Review 
19ZEV-00000-00159 E 5/8/2019 SM Louis Armstrong LLC Unpermitted Cultivation Violation Processing 
19ZEV-00000-00175 E 5/21/2019 SM Odor Complaint In Review 

https://aca.sbcountyplanning.org/CitizenAccess/Report/ShowReport.aspx?module=&reportID=1235&reportType=LINK_REPORT_LIST 





 

PUBLISH DATE
TITLE
PERIOD END DATE
STATUS
08/20/2019 Quarterly Report - BNGI-Quarterly Disclosure Report 04-30-19 04/30/2019 A
08/09/2019 Quarterly Report - BNGI-Quarterly Disclosure Report 04-30-19 04/30/2019 I
07/18/2019 Quarterly Report - COBI-Quarterly Disclosure Report 04-30-19 04/30/2019 I
07/17/2019 Quarterly Report - COBI-Quarterly Disclosure Report 04-30-19 04/30/2019 I
07/11/2019 Quarterly Report - COBI-Quarterly Disclosure Report 04-30-19 04/30/2019 I
06/14/2019 Notification of Late Filing - Notification of Late Filing 04/30/2019 A



Also of note:


 
ASC Variation of Cease Trade OrderAnnouncement | 08/22/2019

 

ALBERTA SECURITIES COMMISSION

CEASE TRADE ORDER: VARIATION

Citation: 2019 ABASC 132

Date: 20190822

Bangi Inc.
(formerly Compass Biotechnologies Inc.)

Background

1. Bangi Inc. (the Issuer), a reporting issuer under the Securities Act (Alberta) (the Act), underwent a name change from Compass Biotechnologies Inc. on 10 April 2019.

2. The securities of the Issuer are subject to a cease-trade order by the Alberta Securities Commission on 14 May 2013 (the CTO), cited as Compass Biotechnologies Inc., Re, 2013 ABASC 210 in consequence of the Issuer's failure to file periodic disclosure pursuant to section 146 of the Act.

3. Variation of the CTO to reflect the Issuer's change of name would make clear that the CTO remains in effect despite that change.

Decision

4. The undersigned, considering that it would not be prejudicial to the public interest to do so, orders under subsection 214(1.1) of the Act that the CTO is varied to reflect the Issuer's change of name.

22 August 2019


"original signed by"
Tom Graham
Director, Corporate Finance
Alberta Securities Commission

Original


https://www.otcmarkets.com/stock/BNGI/news/ASC-Variation-of-Cease-Trade-Order?id=238259




Search Cease Trade Orders
 

Search Date:
Name:   *Bangi*   Type:   Ban Securities Trading OF and Ban Securities Trading BY
Issuing Jurisdiction(s):   All Jurisdictions   Status:   Active
Date Issued:   All Dates   Expired/Revoked:   N/A
Categories:   Corporate Finance, Enforcement   FFCTO:


https://cto-iov.csa-acvm.ca/SearchArticles.asp?Instance=101&Form=1&Attr3=1&IssuerPerson=*Bangi*&begins=on



 

WITHDRAWAL OF FORM 1-A

 

BANGI, INC.

18530 MACK AVE.

GROSS POINT FARMS, MI 48236

 

April 23, 2020

 

VIA EDGAR

 

Securities and Exchange Commission

Division of Corporation Fin

100 F Street, N.E.

Washington, D.C. 20549

 

RE:

Bangi, Inc.

 

Withdrawal of Form 1-A filed October 10, 2019

File No. 024-11088

  

Ladies and Gentlemen:

 

On behalf of Bangi, Inc., a Nevada corporation (“Company”), we hereby request that the offering on Form 1-A/A (File No. 024-11088) as filed with the Securities and Exchange Commission (“Commission”) on October 10, 2019 (“Reg A”) be withdrawn effective immediately.

https://www.otcmarkets.com/filing/html?id=14089473&guid=oEAHUqTVYbcjJth


UPDATE ON THE STATUS OF MANAGEMENT PER THEIR 8K FILING

 

NOW, THEREFORE, be it:

 

RESOLVED, that Directors Willard Jackson, Hill Harper and Richard Shykora terms of service on the Board of Directors has ended;

 

RESOLVED, that the resignation of Neil Parsan as Chairman of the Board of Directors and CEO of the Company is hereby accepted to take effect immediately;

 

RESOLVEDthat Nicole Birch is hereby appointed Chairperson of the Board of Directors and CEO of the Company effective immediately;

https://www.otcmarkets.com/filing/html?id=14132904&guid=c1cHUpUTl8T3Mth

 

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PostSubject
#59154  Sticky Note Wow!!! JAY-Z now partners up with Beyonce's Dad https://twitter.com/_ProStockTr Pro_Stock_Trader 01/22/21 08:12:51 AM
#59971   Anyonewho invests in an OTCM scam with their surfkast 03/07/21 05:38:15 PM
#59970   This suspension of BNGI hurts a lot more macdwatcher1 03/07/21 04:34:11 PM
#59969   Jay Z is old news! Press Release / 08/05/2019 surfkast 03/07/21 11:26:51 AM
#59968   It was only a matter of time before surfkast 03/07/21 10:08:51 AM
#59967   Hello amigo. We join forces once again. macdwatcher1 03/06/21 10:39:24 PM
#59966   $bngi $.01 with news Taurus69 03/06/21 05:20:06 PM
#59965   Where is the Fundanna money swingingRichard 03/06/21 01:30:13 AM
#59964   I agree... and looks to begin trading on macdwatcher1 03/05/21 11:24:59 PM
#59963   6 months ago it was business as normal 4C 03/03/21 04:25:57 PM
#59962   They didn't prevent me from investing in scams. Kamonman 03/03/21 04:13:50 PM
#59961   You just turned a depressing day/week right around RR67 03/03/21 04:08:05 PM
#59960   I don’t have premium membership so can only RR67 03/03/21 03:45:03 PM
#59959   hilarious swingingRichard 03/03/21 09:19:13 AM
#59958   That is not the best place for DD. surfkast 03/02/21 08:13:06 PM
#59956   Agreed. Your DD is far more extensive than RR67 03/02/21 11:29:09 AM
#59955   Especially if the dig into all the P/R's surfkast 03/02/21 11:14:54 AM
#59954   Wow. I’m sure the SEC will have a RR67 03/02/21 07:15:35 AM
#59953   Nikki and her minions are amateurs. swingingRichard 03/01/21 10:54:00 PM
#59952   You will be lucky to see .0001 on surfkast 03/01/21 04:08:35 PM
#59951   Show me .0026 yaaaaaaaaa! Eyeofthetiger69 03/01/21 03:43:27 PM
#59950   The SEC suspends trading in 15 stocks because Smilin_B 03/01/21 03:17:03 PM
#59949   OK. Pro_Stock_Trader surfkast 03/01/21 11:15:54 AM
#59948   Surfkast, that particular post is highlighted in yellow RockyW 03/01/21 11:13:45 AM
#59947   Ok thanks. RR67 03/01/21 11:09:11 AM
#59946   I can't fins anyone with that alias on surfkast 03/01/21 11:01:08 AM
#59945   I believe it was Stock_Trader_Joes_NYC but I could RR67 03/01/21 10:58:20 AM
#59944   My bad but what alias did the person surfkast 03/01/21 10:37:15 AM
#59943   I know. Neither can I but his posts RR67 03/01/21 10:19:39 AM
#59942   I know all about the bullshit tweets. I surfkast 03/01/21 09:45:31 AM
#59941   Here: Wow!!! JAY-Z now partners up with Beyonce's RockyW 03/01/21 09:38:14 AM
#59940   I can't find Stock_Trader_Joes_NYC on this board. surfkast 03/01/21 09:31:57 AM
#59939   This is the post that started the massive RR67 03/01/21 08:14:07 AM
#59937   a defaulted Nevada corporation surfkast 02/28/21 10:43:05 AM
#59936   Common Stock / Status: Suspended surfkast 02/28/21 10:34:36 AM
#59935   $bngi $0.0009 ? 0.0 (0.00%) Taurus69 02/27/21 08:36:30 PM
#59934   Thank you RFL1969 02/27/21 07:53:56 PM
#59933   because in the suspension notice, the sec has lucky,mydog 02/27/21 06:35:16 PM
#59932   That is the process. All OTC stocks WebSlinger 02/27/21 06:25:56 PM
#59931   My question is we got suspended for a RFL1969 02/27/21 06:20:32 PM
#59930   My broker (Etrade) has company overview listed as RR67 02/27/21 05:21:02 PM
#59929   Damn! Glad I got out at 18. That stallion70 02/27/21 01:54:07 PM
#59928   .0001 open most likely, sorry--you're in grey sheet power_forward 02/26/21 04:38:55 PM
#59926   And the lies and fluff had nothing to surfkast 02/26/21 08:58:08 AM
#59925   That would be for the authorities to dig into. surfkast 02/26/21 08:55:38 AM
#59924   This was never a business to begin with. musicbynature 02/26/21 08:39:05 AM
#59923   Show me grey open and .005!!! Eyeofthetiger69 02/26/21 08:01:51 AM
#59922   You kidding right? This was a Mathew Knowels Box Money 02/26/21 06:11:15 AM
#59921   Just another attempt to keep a black owned Therealpro 02/26/21 12:27:18 AM
#59920   Do you think Nikki was behind that fake RR67 02/25/21 09:32:05 PM
#59919   THIS WAS A SCAM FROM DAY ONE. LOOKS surfkast 02/25/21 06:43:57 PM
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