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Yes, many shares have been sold... but bought by others.
“ Lots of shares being unloaded.”
THAT’S open to interpretation.
https://www.nasdaq.com/market-activity/stocks/neom/historical
Public shares do not just “disappear poof be gone” because a company goes out of business. LOL. The control blocks shifted to YA Global when Neomedia defaulted on the debenture agreements. It has since been shifted to Saudi (I SPECULATE). Based on the SEC REG D offering mentioned in my previous comment. They list the date of first sale as 04/06/2009
https://www.sec.gov/Archives/edgar/data/1462269/000146226919000001/xslFormDX01/primary_doc.xml
Check out this old Neomedia Tech 8-k. It lists an amendment to a debenture agreement between YA Global and Neomedia. April 6, 2009 is all over this document, specifically in reference to the “third debenture agreement *first closing*”
https://www.otcmarkets.com/filing/html?
The trademark (thy Saudi has been granted) is relevant because it pertains to *standard character mark* “NEOM” for brokerage of stocks. This indicates Saudi intends on (and now has legal authority) using the ticker symbol NEOM.
2017? LMFAO! All assets were in possession of Yorkville in July 2016!
This HOGWASH trademark issue has NOTHING to do with this stock. It was a ASSET that was ALREADY GONE.
DD FOLKS! These false associations are only distractions. Lots of shares being unloaded. Be careful!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=162019556
The NEOM Trademark was originally filed in 2017 and faced opposition from NEOM LTD (an unrelated company). The Trademark was refused in the past based on that opposition. March 30th 2021, a NOA (Notice of Allowance) was issued - after the (Saudi) NEOM Trademark was *split* into a parent and a child: from Trademark 87657506, came 87983730 - a new (child) trademark covering “brokerage of securities, stocks, coins of value, carbon credits” … etc. etc. Do you think it’s coincidence, that the Trademark was split *for the aforementioned purposes* - and approval granted - 6 months before the OTC deadline and “coincidentally” they have 6 months to file the SOU (Statement of Use)?
Based on Legal Precedent, we can infer that ONLY Saudi will be able to use the NEOM Ticker, based upon being granted this Trademark.
https://uspto.report/TM/87983730/OOA20210216121326/
You do realize, that sharing the same address does not mean they are the same legal entity, right? LOL.
WOW! YA Globalad NM, LLC SAME ADDRESS
What are the odds of that? LMFAO!
Corporate information
NM, LLC
1012 Springfield Avenue
Mountainside, NJ 07092
USA
Yorkville Advisors
1012 Springfield Ave
Mountainside, NJ 07092
<yawn> Evey pump and dump, have to keep proving this simple stuff. Sad but true.
ACTUALLY, YA Global took control of the assets, preferred series shares, and also owned a large percentage of the common shares, via debentures that Neomedia defaulted on. It’s all in the filings. Do the DD.
And no, YA Global and NM LLC are not the same entity, not is NM LLC a “subsidiary” of YA Global. They are an AFFILIATE. Did you not read the article I shared?
We understand the assets were seized. By YA Global. Now, we speculate a reverse merger is being facilitated by them in a mutually beneficial partnership with Saudi. We speculate the securities from the YA Global SEC REG D offering were Neomedia Technologies securities, being sold to accredited investors - hence transitioning the control blocks to Saudi. Basic DD.
Fun fact: NM LLC is an *AFFILIATE* of YA Global. Not one and the same entity. Also, Laura Marriott was CEO of Neomedia Technologies while simultaneously consulting for NM LLC.
https://insight.rpxcorp.com/news/7612-large-investor-takes-possession-of-neomedia-patents-and-continues-qr-code-campaign
LMFAO! The DEMAND LETTER that forced this former company to turn over ALL ASSETS INCLUDING INTELLECTUAL PROPERTY was issued in July 2016!
The trademark that you are referring to WAS NOT FILED FOR BY THIS COMPANY and has nothing to do with this stock, other than having a similar name.
BASIC DD FOLKS! It will clear away the smoke and shatter the mirrors in any fun house.
Read the letters from the then CFO of THIS COMPANY if you want the TRUTH.
Another fun FACT that has been proven time and time again ....
NM, LLC is the SUBSIDIARY of Yorkville(who took everything)
Plenty of FACTUAL DD has been posted about that EVERY TIME THES FAKE ASSOCIATIONS GET REVIVED. Look for it, it's there and you owe it to yourselves to do your OWN DD.
Here is a old NM, LLC profile. Note the NEOM.com website address. They OWNED IT AFTER YORKVILLE TOOK IT AND USED IT just like the trademaked name of NeoMedia that they used as well. Even this companies former CEO went to work for them!
https://b2b.io/company/neomedia
Beware bogus claims and convoluted associations! There are plenty of shares for sale! People want out of their positions, in fear of them going to zero?
The NEOM Trademark was originally filed in 2017 and faced opposition from NEOM LTD (an unrelated company). The Trademark was refused in the past based on that opposition. March 30th 2021, a NOA (Notice of Allowance) was issued - after the (Saudi) NEOM Trademark was *split* into a parent and a child: from Trademark 87657506, came 87983730 - a new (child) trademark covering “brokerage of securities, stocks, coins of value, carbon credits” … etc. etc. Do you think it’s coincidence, that the Trademark was split *for the aforementioned purposes* - and approval granted - 6 months before the OTC deadline and “coincidentally” they have 6 months to file the SOU (Statement of Use)?
Based on Legal Precedent, we can infer that ONLY Saudi will be able to use the NEOM Ticker, based upon being granted this Trademark.
https://uspto.report/TM/87983730/OOA20210216121326/
Let’s review connections between Neomedia and Saudi’s NEOM. We should all know by now the play here isn’t investing in “Neomedia Technologies” per se, but rather, investing in the chance of a RM facilitated by Saudi PIF via YA Global. So why does the mod’s board description disregard that entirely?
Neomedia built an extensive patent portfolio covering convergence of the physical world and the internet:
https://whalewisdom.com/filer/neomedia-technologies-inc
Saudi’s new Trademark for TONOMOUS (as in Autonomous) aligns perfectly with this concept:
https://uspto.report/TM/90813625
Yes, it’s speculative, but that’s exactly what this play is! That’s what makes it exciting, and potentially life changing if it turns out to be true and the stars align.
Consider the YA Global SEC Reg D offerings. They list the date of first sale as 04/06/2009
https://www.sec.gov/Archives/edgar/data/1462269/000146226919000001/xslFormDX01/primary_doc.xml
Check out this old Neomedia Tech 8-k. It lists an amendment to a debenture agreement between YA Global and Neomedia. April 6, 2009 is all over this document, specifically in reference to the “third debenture agreement *first closing*”
https://www.otcmarkets.com/filing/html?id=6538720&guid=5mm1k6ImV7Io13h
^ Pretty interesting “coincidence”. I believe this proves the REG D filings are related to YA Global selling Neomedia securities to accredited investors. Interesting, the sales start ramping up BIG right around the same time Saudi NEOM Company starts ramping up:
https://www.formds.com/issuers/ya-global-investments-ii-u-s-lp
^ IF I am correct, who is paying so much money for Neomedia securities?
Here is the link to the Neomedia 8-k with the date that matches date of first sale from YA Global SEC REG D filings. Forgot to paste it into my previous message.
https://www.otcmarkets.com/filing/html?id=6538720&guid=5mm1k6ImV7Io13h
Re. The Saudi PIF - That’s a simplified explanation, but yes. There are rules which require foreign investors be disclosed, but a loophole to this is if the REG D securities are purchased through LLCs registered in the U.S. There are two foreign LLCs - NEOM Peaceful and NEOM Garden Valley - out of Nebraska, and interestingly, Colorado (same as Neomedia) - these foreign LLCs use the same Registered Agent as “PIF Onshore” (Public Investment Fund?) - you can search the SEC database to find a ton of recent additions from PIF Onshore. What’s more, there is a domestic LLC - NEOM Restructuring Management - and they use the same Registered Agent as YA Global II (Corporation Trust Company) the specific branch of Corporation Trust Company that NEOM Restructuring uses is C T Corporation (a foreign stock company). What’s more, the Managers of NEOM Restructuring were - Khurram Shah - he is Chairman of ICS - a Saudi Tech company. It SEEMS NeoMedia Tech was being Restructured to Saudi. NOW, we only see Gary Silversmith listed as manager - who seems to be an environmental attorney with EPA connections. So it SEEMS, they took care of the Neomedia side of things, restructured to Saudi, and now they are focusing on the environmental side and the hydrogen business. Feel free to out Open Corporates website and confirm the veracity of everything I’ve said.
Ok, so you're thinking that Saudi PIF is paying YA Global for the securities (common stocks) acquired from NeoMedia.
Yes Junior I’m still holding a few million shares hoping and
praying something comes out of this I had over 6 million
Sold some on the run up I might start buying a little more
Thank you DeusMunus
You said “this is a core utility of a stock discussion thread”. I can respect your opinions. This is not directed at you diarch. The word utility is defined as something 'useful, profitable, or beneficial'. A board with a “moderator” who claims to “check the DD of others” - but then DELETES the comments I post (comments with DAMN GOOD DD) for questioning his intentions with the board, is NOT 'useful, profitable, or beneficial' to anybody (except for maybe that same moderator who also CLAIMS to “hate scammers and lies”) - then why censor the truth? Why not allow all the DD to be shown so that people can make their own educated decisions based on all the facts? Moderators can bash and question me but I can’t do the same to them? Hypocrite much?
There doesn’t seem to be much turnover in the professional staff. All the key players are in place, and have been there for a long time. Articles that state “an exodus of employees” are proven incorrect by other sites that show the actual number of employees has been steadily growing.
Something doesn’t seem right about the story of somebody who is being extremely bearish, but they hold a “several million share position”. You didn’t sell those few million shares for $45,000 on the run up to .015? Maybe you’re just rich and don’t care about money, if so, good for you! Or maybe you did sell and now it’s beneficial to be bearish? Just saying ;)
This is a core utility of a stock discussion thread. Posters are entitled to opinions to confirm or refute. I agree there exists the possibility of a politically-rooted bias less favorable to NEOM and KSA. THE Khashoggi incident (and certainly the motivations behind it) has not faded from the minds of many. 2025 for phase I is ambitious in the extreme. There is significant churn and turnover among professional staff, I know first hand why, with personal experience throughout the GCC. MBS has a ton of face to save here.
I, like several residual shareholders of NEOM, have skin in the game, having supported and chased the YA Laura Marriott version of Neom to ocean depths. Several million share position but will not be enhancing my count. A sack of dormant seeds as with a few other familiar handles here. With CE status abounding, I’m cool with watching from the sidelines.
That said, appreciate your and vulken17’s efforts to illuminate and connect dots. Let’s see how legible the constellation becomes over KSA in the next few years.
From Bloomberg/Quint
“ NEOM, as I wrote here, represents another triumph of rhetoric over pragmatism. Talk of selling shares in it at some point -- "it might be after 2030" -- compounds the air of fantasy (old-fashioned muni bonds just aren't shiny enough, I guess). So does the prince's expectation that NEOM can be run like a business without the usual concerns other cities grapple with because, along with companies, they tend to be inhabited by that frequently irrational species known as human beings….
To believe in Saudi Arabia's future, and thereby Aramco's value, there needs to be credibility about reform plans and the ability to pull them off. The broad outlines of what the prince hopes to do, in terms of diversifying the economy and getting more of his people into productive private-sector jobs rather than the state bureaucracy, are encouraging.
But NEOM, which somehow combines futuristic fantasy with the all-too familiar blueprint of a grand, top-down infrastructure boondoggle, undercuts all this. Musk and Thiel may set outlandish goals, but they have already done enough to convince a critical mass of investors and lenders to back them. Saudi Arabia isn't there yet.“
I do not think MBS has speculated on valuation of NEOM yet. Based on the 2021 Saudi FII Conference segment hosted by the NEOM Investment fund manager, featuring the CEO of Nasdaq and CEO of London Stock exchange, I surmise NEOM is being positioned as an ESG investing opportunity. ESG investing, I imagine, I set to grow exponentially. How much is all the following worth? I do not know. I like to reference APD (a big hydrogen company that has a JV with NEOM (Saudi), APD market cap is 64 Billion. ASSUMING, a RM into Neomedia is correct, even with a reverse split or ADR conversion of say 100 to 1 (effectively reducing OS to ~50 million), your 1 million shares would become 10,000 of a company that may be poised for diamond level SP. This is all speculation, and the comparison to APD is not a mathematical tautology of course. But some analysts (Goldman Sachs to name one) speculate the hydrogen market can grow to 50 TRILLION by 2050…
“production of 650 tons per day of hydrogen by electrolysis using thyssenkrupp technology; production of nitrogen by air separation using Air Products technology; and production of 1.2 million tons per year of green ammonia using Haldor Topsoe technology. The project is scheduled to be onstream in 2025.”
https://www.airproducts.com/news-center/2020/07/0707-air-products-agreement-for-green-ammonia-production-facility-for-export-to-hydrogen-market#/
“assembly facility at NEOM with annual capacity of up to 10,000 vehicles” (which sell between $150,000 to $240,000 each)
https://hyzonmotors.com/neom-and-modern-group-plan-to-collaborate-on-hydrogen-powered-vehicle-value-chain/
What is the value of the extensive Neomedia Patent portfolio that covers convergence of the physical world and the internet?
https://whalewisdom.com/filer/neomedia-technologies-inc
Saudi NEOM Company’s new U.S. Trademark “TONOMOUS” seems aligned very well with the Neomedia Tech patent portfolio.
https://uspto.report/TM/90813625
Take a look at all these patents that reference Neomedia Technologies - you can research patent referencing to understand why - but basically, it could be that these companies (such as Google, to name just one) have improved upon Neomedia Tech’s patents and the reference is merely that - a reference. OR, it could be that the Neomedia Tech patent is an essential part of the design (in which case, whomever owns that patent could be owed massive royalties). YA Global was willing to lend a LOT of money to Neomedia Tech, perhaps they understand just how valuable these patents will be in the future…
https://uspto.report/patent/search/NeoMedia%20Technologies
There is even more than this I’ve been uncovering individuals who own NEOM LLC’s moving into huge corporations such as Roche, and even Canadian government positions. It’s speculative at this time, but the positions they’re in align with NEOM Company (Saudi) stated goals.
Typo: should read RS. RM on the forefront of thoughts here.
DM-didn’t MBS tout a market cap of over a trillion $ for publicly traded NEOM (as he did for Saudi Aramco)?
A RM of uber proportions would be needed to address shares currently held. For many long-held shareholders, it’s been dead money immemorially. Now worth the price of admission to be in the tent.
Thank you DeusMunus.
Your DD is splendid, and accurate.
It is very much appreciated.
Don’t fuss too much over those who don’t see what you see.
I’m guessing they want to see the writing on the wall before they believe.
Each to his own, I guess
We that still hope are super thankful for what you bring to the table.
Cheers
Junior
Per opencorporates .com - there are three Neomedia Technologies companies that are NOT inactive. The two U.S. companies use the registered agent CSC (Corporation Service Company). Upon perusing the SEC database, we can find a LOT of very recent additions for “PIF Onshore” (Public Investment Fund of Saudi?) - guess who the registered agent is for PIF Onshore - you guessed it - CSC Corporation Service Company. This only scratches the surface of the TREMENDOUS amount of speculative DD that connects Neomedia Technologies to Saudi.
https://opencorporates.com/companies?q=NeoMedia+Technologies&utf8=?
Prince Mohammad bin Salman himself, he stated the intention to float NEOM on the public markets. Ask yourself, would he consider using any ticker other than NEOM? Did I mention NEOM Company (Saudi) is working with Shearman and Sterling? Look at what they specialize in… Interesting that the NEOM Facebook page changed its name from “Discover Neom” to *Discover NEOM* on the exact date the Shearman and Sterling Saudi Arabia Microsite published an article about M&A Rules in Saudi Arabia.
I’m just getting started…
1. Your comment is a logical fallacy known as a straw man argument, because it assumes YA Global do not know the value of branding, and that they would “allow” the ticker to die and be taken over by somebody else, rather than forging a beneficial partnership.
2. According to investopedia, reverse mergers are less costly and time consuming than a new IPO and many companies prefer the reverse merger route due to this fact.
Lets see, which is cheaper? Let the defunct NEOM ticker die and then revive it as a totally clean new symbol or buy the existing steaming pile of crap and deal with all the troubles associated with it.
Yeah, this current stock is junk and all the dreaming of Saudi NEOM picking it up out of the toilet is just pure fantasy created to unload shares that the Twitter team soaked up at .0001
Lots of great DD on StockTwits. We should understand that YA Global seized all patents and assets. Should also understand YA Global’s SEC Reg D offerings may be related to Neomedia Tech securities (date of first sale on SEC filings matches amended debenture closing agreement between YA and Neomedia - as shown in Neomedia 8-k filing). Anybody who tells you NM LLC and Neomedia are not related, should probably understand the nature of the intellectual property auction as shown in the following link. Oh, and did I mention that Saudi has Trademarked (standard character mark) NEOM *for brokerage of stocks* in the U.S. - legal precedence suggest that ONLY Saudi will be able to use the NEOM ticker based on that trademark. Cheers!
https://insight.rpxcorp.com/news/7612-large-investor-takes-possession-of-neomedia-patents-and-continues-qr-code-campaign
The only reason that this DEAD POS hasn't gone back to .0001 is people holding the bags from the last pump and dump, holding and hoping someone runs it again. The Saudi hoax took a lot of peoples money.
And you never will. It was part of the Saudi merger hoax and now that all the perpetrators of that hoax have left, the ibox has been wiped of all that bogus information.
Does anyone know who posted the email that is shown in the introduction above? investor.relations@NEOM.com
I've sent several inquiries to the same email address, but got no response yet.
Neom is dead, no believers. Imo
No action. No news
I' m waiting at your sign.
Just got an alert here. What’s going on with neom now. I made $48k here 10 years ago maybe longer. It’s been a long time. Let’s do it again. This time when I say get out just get out. Neom missed its opportunity at .72 I sold at .68. Remember me? Lol JP you still here?
this thing running again? anything new or just went low enough?
NEOM boom .003+
NEOM on watch .0018
No sellers,no buyers, no trades
A lot of people got suckered in and refusing to sell in hopes of another pump and dump, IMO. We all know the Saudi NEOM hoax is over.
why do you think its still holding strong if its orphaned ticker?
Website now gone along with the NEOM trademark. This POS has less value than ever before. Nothing but a orphaned ticker that the penny scam MMs use to bait people into buying so they can dump their $.000001 bought shares on.
IF this has anything to do with the Saudi family's NEOM Project... run away... they are running out of money and Everybody knows this, that's why they are such SELL OUTS to the forever-crashing American dollar. Trust me on this one... Watch the economy decline and all their investors will be backing out as seen with Dubai's World and Palm Islands projects... there are so many better OTC companies in this price range and slightly higher.
If this company has nothing to do with that NEOM project, then... forgive my intrusion, i almost made the mistake of buying this in .0050s a few months ago... i changed my mind, and the next day it began to tank
ADT$M
TGG!i
AP$YP
Etc...
Jr.571-most brokers have shuttered purchase of caveat emptor stocks as of 5/25/21. One can close out their position but no openings. So yes, how are buyers jumping in?
ridiculous, NEOM the stock ticker, NeoMedia Technologies, Inc. has nothing of value and nothing to offer. @vulken17
Yes I know that the domain was bought & well aware $NEOM will IPO on the OTCQX in due time!
The Saudi claimed connection is a total farce. @vulken17
@vulken17 The Saudi company bought the NEOM.COM domain when NeoMedia Technologies, Inc went out of business and it's assets foreclosed. There is no relationship between the Saudi company and this stock ticker. ...but you know this already.
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Moderators WarMachine |
The Demand states that if the Amounts Due are not immediately paid in full, the Lender may commence all appropriate action to collect the outstanding indebtedness without further notice, including without limitation, conducting a secured party sale under the Uniform Commercial Code of all collateral pledged by the Company pursuant to the Financing Documents, including the Company’s assets, as provided in the applicable security documents entered into by the parties.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 7, 2016 | NEOMEDIA TECHNOLOGIES, INC. | |
By: | /s/ Barry S Baer | |
Name: | Barry S Baer | |
Its: | Chief Financial Officer |
The 8K posted above is the last filing for NEOM at this point in time.
Since then YA Global Investments has seized ALL ASSETS.
In no uncertain terms this means that NeoMedia has NOTHING.
The rumor of a company called NM, LLC being part of NeoMedia is false.
The rumor that NeoMedia still has rights to barcode/QR code patents is false.
The following emails were received on 10/25/2016 and 10/26/2016
from none other than NEOM CFO Barry Baer himself.
They are clear and self evident as to the status of NeoMedia
1) In response to your questions, our debt holder issued a demand notice and on July 8, 2016 took all assets of the company to include the company's intellectual property. I am not aware company stock has been trading.
2) I am surprised to still see trading as indicated previously the company has no assets.
Asset
In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).
The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business. One can classify assets into two major asset classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment.
Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace. Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.
OK folks, It has now come to the point where there seems to be some misdirection, going on.
Just to be perfectly CLEAR, NeoMedia Inc, this company, and the NEOM ticker have lost everything. See above from a company officers comment.
The financier, Yorkville, grabbed everything when they forced NeoMedia Inc to pay their debt.
Yorkville took ALL ASSETS PRIVATE under the name NM, LLC and can still use the name NeoMedia that was on the assets.
Be fully aware that NM, LLC IS NOT the "NM" that is being referred to. If you aren't sure when you see just "NM" being thrown around, ASK!
Do not let this confusion fool you into thinking NeoMedia Inc/NEOM has any income/benefit from NM, LLC. THEY DO NOT.
NM, LLC is a PRIVATE company, a subsidiary of YA GLOBAL who took ALL ASSETS as stated above by the CFO of NEOM
ABOUT QR CODES:
DENSO WAVE the inventor of the QR Code allows anyone to use QR Codes license free.
See the section under, QR Code's intellectual property right, the first 3 FAQs at, https://www.qrcode.com/en/faq.html
See also, https://www.qrcode.com/en/patent.html
There seems to be this endless banter about a patent but lets just see the TRUTH.
Apparently there is confusion about what a assignor and a asignee is. Maybe this will clear that up.
YEP! Pretty clear that this former company signed over the patent to NM, LLC and we all know that NM, LLC is a subsidiary
of Yorkville, who TOOK ALL ASSETS in the settlement, and this former company IS NOT part of Yorkville.
No Information
Indicates companies do not provide disclosure. Publicly traded companies that do not provide information to investors should be carefully researched before making any investment decision.
NEOM has NO ASSETS.
No assets means NO PATENTS.
No patents means NO CONTRACTS.
No contracts means NO REVENUE.
No revenue means THE USELESS BULLSHIT that continues to appear here will NEVER benefit NEOM shareholders.
Demand a connection folks! If you see this kind of hogwash,
DEMAND ANSWERS as to how it relates to NEOM and the future of this
DEFUNCT COMPANY.
Defunct Company, Stock Continues to Trade
https://www.sec.gov/fast-answers/answersdfnctcohtm.html
Even when a company is no longer in business, there may still be active trading in its stock. This is because companies that are no longer operating may still have outstanding registered stock, which can be traded until the company has the shares deregistered or the stock's registration is revoked. The SEC does not have a rule that prohibits the trading of stock once a company becomes defunct because it does not want to forbid transactions between willing buyers and sellers, including those holding shares in defunct companies
Information on bankruptcy is available here. Other issues that might arise with defunct companies include the following:
Trading stocks v. publishing quotations in stocks. Rule 15c2-11 of the Securities Exchange Act of 1934 prohibits broker-dealers from publishing a quotation for a security (an offer to buy or sell) unless they have reviewed certain information about the company. The rule regulates when broker-dealers may publish a quotation in, the Over-the-Counter Bulletin Board, the Pink Sheets or other quotation mediums, but does not, address when a stock can be traded between two broker-dealers. As a result, there may be trading in a stock even though the company is no longer in business and quotations in the stock are not actively published.
An exception to the rule permits a broker-dealer to publish quotations for a stock without reviewing information about the company if there are regular and continuous quotations published for a specified period of time by broker-dealers that did have the appropriate information. Although a company has become defunct, its stock may still be quoted under this "piggy-back" exception. In addition, if a company becomes defunct after quotations in the stock are published for the specified time period, the broker-dealer is not obligated to acquire current information on the company.
The SEC may invoke a trading suspension. In some cases, the SEC or an exchange may halt trading in the stock of a defunct company if the stock price appears to be manipulated or if it believes that public information about the issuer is false or misleading. When the trading suspension ends, a broker-dealer wishing to publish quotations must comply with Rule 15c2-11, which may be impossible to do in the case of a defunct company.
The SEC may revoke the registration of stocks. In some circumstances, the SEC may revoke the registration of a defunct company's stock. Section 12(j) of the Exchange Act authorizes the SEC to revoke the registration of a security if the issuer fails to comply with the federal securities laws. Broker-dealers may not execute any trades in stocks whose registration has been revoked pursuant to Section 12(j).
A defunct company may not have a transfer agent. In some situations, the defunct company does not have a transfer agent. Although the federal securities laws do not require a company to have a transfer agent, if a company does not have a transfer agent, investors are unable to receive or transfer their stock certificates. Sometimes the SEC has considered a company's lack of a transfer agent as a factor in determining whether to revoke the registration of stock pursuant to Section 12(j) for the protection of investors.
Ya see folks, just because a stock still trades it doesn't mean that the company even exists anymore.
R F I D HOAX!
NEOM has never been involved with RFID, not when it was actually in business
definitely not now being it is OUT OF BUSINESS, CLOSED, DEFUNCT
6 BILLION SHARES AUTHORIZED!
BEWARE PUMP AND DUMPS
End of Warmachine's section
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