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That could happen. I don't know anything about the story, but it seems to be similar to VIICQ's. Both are delinquent filers--FEECQ most recent financial report is for the period ended 30 September 2014--and both have filed for Chapter 7, rather than Chapter 11, bankruptcy.
So will FEECQ get suspended too?
Someone is always "there" at the resident agent's office. One of their duties is to accept service of process. And if they served the company directly, it's in the middle of a bankruptcy proceeding, and so hasn't gone anywhere.
We'll find out whether it intends to try to fight revocation of registration shorty after 19 July.
but my point is, someone was there and they may comply.
Of course they're "real people". Who have filed for bankruptcy. But probably the SEC served the company's resident agent. That's what they usually do.
ok, so the respondents were served meaning there are real people that they reached. so, thats good.
An update from the SEC, filed on 22 June:
On June 15, 2016, the Securities and Exchange Commission issued an order instituting proceedings (OIP) against Respondents pursuant to Section 12(j) of the Securities Exchange Act of 1934. The hearing is scheduled to commence on July 11, 2016.
Today the Division of Enforcement filed a declaration of service establishing that Respondents were served with the OIP by June 20, 2016, by U.S. Postal Service express mail in accordance with Rule of Practice 141(a)(2)(ii), 17 C.F.R. § 201.141(a)(ii). Respondents’ answers are due by July 5, 2016. OIP at 3; 17 C.F.R. §§ 201.160(a)-(b), .220(b).
I ORDER that the hearing scheduled for July 11, 2016, is POSTPONED and a telephonic prehearing conference shall be held on July 19, 2016, at 2:30 p.m. EDT. Any Respondent that fails to timely file an answer, appear at the prehearing conference, or otherwise defend the proceeding will be deemed in default and the registration of its securities will be revoked. OIP at 3; 17 C.F.R. §§ 201.155(a), .220(f), .221(f).
https://www.sec.gov/alj/aljorders/2016/ap-3937.pdf
You must be the bagholder that bought the 9 Million the other day. OUCH! It's the OTC it happens a lot to everyone shake it off.
You ought to be wondering what "revocation of registration" means.
who will invest in a company that pulled out of bankruptcy? ME
I plan on making some serious cash with VIICQ. If you want waiting tables a way of life go figure out what tips are. Dah. I wonder what that means?
VIICQ will be eligible for a piggyback ride, knowing that six MMs are involved with selling and buying this security.
VIICQ has lost compliance with Rule 15c2-11. NO MMs are allowed to publish quotes. In order to return to the Pinks--but why would a bankrupt company care to do that?--it would need to find a sponsoring MM willing to file a Form 211 with FINRA.
That will not be happening, because the SEC intends to revoke VIICQ's registration. So there'd be no point at all.
All quoted stocks have a sponsoring Market Maker. All other Market Makers piggy-back on the sponsoring Market Maker.
In ALL SEC Suspensions the SEC directs that "Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies unless and until the broker or dealer has strictly complied with all of the provisions of the rule."
That means the sponsoring Market Maker and all piggy-back Market Makers are forbidden to make any quotations for the suspended stock when trading resumes. Because there are no Market Makers and consequently no quotations ALL suspended stocks go to the Grey Market.
VIICQ's stock registration will thereafter be revoked.
"They" did not report anything in April. John Fife of Typenex--a toxic funder--filed a Schedule 13 disclosing his holdings.
VIICQ is two years behind with its SEC filings. And that is why the SEC intends to revoke registration:
https://www.sec.gov/litigation/admin/2016/34-78070.pdf
The administrative process will take a couple of months. When it's complete, the ticker will be deleted and VIICQ will never trade again.
VIICQ will be eligible for a piggyback ride, knowing that six MMs are involved with selling and buying this security. I'm not discussing at this time what piggyback ride means taking that everyone knows the meaning of the term. bur will make reference to: exchange act rule 15c2-11(f)(3).
I suggest that everyone of interest read this SEC rule for further reference.
i wonder why they got suspended when they reported in april.
From the ADMIN Proceeding that was filed with the SEC Suspension:
Vision Industries Corp. (“VIICQ”) (CIK No. 1405424) is a dissolved Florida corporation located in Long Beach, California with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). VIICQ is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-Q for the period ended June 30, 2014, which reported a net loss of $1,254,150 for the prior six months. On September 24, 2014, VIICQ filed a Chapter 11 petition in the U.S. Bankruptcy Court for the Central District of California, which was converted to a Chapter 7 proceeding on December 3,2014, and was still pending as of May 3, 2016.
https://www.sec.gov/litigation/admin/2016/34-78070.pdf
Read the entire Admin Proceeding to see that the SEC will move to revoke VIICQ's stock registration.
janice, what is your opinion of VIICQ?
I like that the company continue to report to the SEC:
http://www.otcmarkets.com/stock/VIICQ/filings
THANKS
It means that after four sessions without published quotes, VIICQ has been kicked to the Grey Market. It will resume trading--as a Grey--on Wednesday 29 June.
it can trade after the suspension but you wont see a bid or ask... a grey sheet is tradable, but the buyer's price needs to match the sellers.
like, lets say you got in at .0004... and your sell order was .0006 (you may have it set now (gtc) or you can set it on the 29th)... so, if i came to buy, but no one had any below .0006, i kind of have to go "fishing" to find that you have some at .0006 and my buy will fill (or part fill then depending on how much you have to sell and how many i want filled).
i hope that makes sense.
the doom and gloomers will only say "its dead" but it wont be dead, its just a step below pink sheets tier, called grey sheets.
hope this helps.
what does that mean? will VIICQ begin trading again today?
You really just dont want to come to grips with the fact this is done.
VIICQ moved to the Greys today:
http://www.otcmarkets.com/stock/VIICQ/profile
you can do that.
can someone email or call the CEO of VIICQ and find out what he is doing? Or contact a Market Maker and find out what they know about this temporary suspension?
lets see what june 29th brings when she is trading again.
they all dump.
And that's a reason to buy them? VIICQ will not run. It's done like dinner.
janice, look around ihub, and see all the stuff that ran some today and crashed right back down. and that includes some big boy big named stocks.
they all dump.
I'm never wrong about scams. The scammiest can run the hardest, but in the end they crash and burn, leaving many most who jumped in holding a bag.
VIICQ is in Chapter 7 bankruptcy. There is NO chance the commons won't be cancelled. In addition, the SEC will revoke registration. So one way or another, common shares are worthless.
you do NOT know what the....
..
outcome will be. and you are often wrong
i have been in stocks that you hated and they ran like hell.
Here's the problem. Two problems, really. When the SEC suspends, MMs are not interested in sponsoring the company. Filing a Form 211 involves potential liability for them. So when there's been an SEC enforcement action, they're unwilling to step up to the plate.
Second, VIICQ has been suspended because it's a delinquent filer. The SEC has also begun an administrative proceeding to revoke registration:
http://www.sec.gov/litigation/admin/2016/34-78070.pdf
Within a few months, the action will be finalized by the administrative judge. Registration will be revoked, and the ticker will be deleted.
hey, this ran to .04's and then .01's back in 2014 to 2015. i hear ya!
I see VIICQ will challenge .01 when it opens up again. MMs play a big part on selling a companies stock. financial information filed with the SEC or FINRA must be current or resonibly current.
OMG THAT WOULD BE FANTASTIC! and that would explain why someone snarfed up a ton of 4's on the very day it was about to get suspended.
i bet someone timed that buy. i dont care what the other "nay sayers" think.
check out this Q&A on rule 15c2-11.
http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=1675&print=1
and this link for SEC rule 15c2-11.
https://www.sec.gov/news/extra/micro15c.txt
lets wait and see what goes on after the 28th before conclusions are issued. I'm hearing talk at the bar that VIICQ is pulling out of chapter 7 which is very good news.
so what makes one ticker suspension different than the next?
All SEC suspensions are the same. But don't forget that VIICQ's registration will also be revoked.
VIICQ's suspension had nothing to do with piggybacked MMs. Had what you describe happened, there'd have been a notice issued by FINRA that the stock was no longer in compliance with Rule 15c2-11.
As it is, it's no longer in compliance with Rule 15c2-11, but that's a consequence of the suspension.
Lets take over company and use as huge P an D.
someone who buys that much stock at one time knows something
actually, it's the other way around. someone who buys that much stock knows nothing.
If you read my linked post that comprises years of research it can be seen that the SEC Admin Law Judge will revoke VIICQ's registration soon after the 10 SEC Suspension ends.
1456 stocks suspended for Financials / Filings delinquencies. 1456 registrations revoked. There are NO exceptions.
so what makes one ticker suspension different than the next? who chooses what the MMs can do? I'm sure something positive will surface that will be of use, to the shareholder's of VIICQ. who will buy 14 million shares only for a suspension? someone who buys that much stock at one time knows something you don't. go figure. I'm holding my 5 million shares.
Market Makers are forbidden to make a market for ALL SEC suspended stocks when the 10 day Suspension ends. Thereafter the SEC Admin Law Judge will move to revoke VIICQ's stock registration.
Readers should acquaint themselves with the outcomes for SEC Registrant Filer stocks that are suspended for Financials delinquencies.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=119863767
I've seen this happen before with another company ticker TAEC and the SEC issued a PIGGYBACK ride after discovering 10 MMs existed. So depending on the number, of MMs VIICQ who holds shares depends, on what the SEC will do next, and seal the fate of VIICQ future. Lets keep our finger's crossed that VIICQ has MMs holding shares.
true. there are not many ladies here, but there are some. (like me)
lol, that's true…
I gather this company was pushed to the brink by John Fife of Typenex. I wonder how much of his money he managed to get back. An interesting case in which even a toxic funder didn't really come out a winner.
http://www.sec.gov/Archives/edgar/data/1405424/000114036116061649/doc1.htm
On a side note why does it have to be a "he"?? Very well could have been a she!!!! Just saying
Gail, is there something about this you don't understand?
http://www.sec.gov/litigation/admin/2016/34-78070.pdf
VIICQ is a DISSOLVED COMPANY. That is, it's no company at all. It does not exist. In addition, the SEC is going to revoke registration. When that happens, it will never trade again.
i dont know janice, cause i gave you a link where you can see the volume bars for the last 2 years, and yesterday was sudden and out of the blue.
so, my HOPE is, when it gets to trade again june 29, that some good news comes along with it.
for a stock to be nearly dead, someone buys a bunch just hours before this? i feel like its more than some dumb trader with bad timing.
when i saw that, the ask was .0005 so i bid for a little, and got filled at 4. didnt get much but some q stocks do take off. lets see what happens on the 29th
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VIICQ CHAPTER 7 RULING 12/3/14
Vision Industries Corp., is a California-based manufacturer of zero-emission hydrogen fuel cell electric hybrid powered Class 8 trucks and terminal tractors. Vision operates in the short-haul, drayage trucking category (the movement of containerized cargo over a short distance, typically less than 50 miles, from a port to an intermodal facility, such as a rail yard). The Company?s products include the Tyrano?, a short-haul Class 8 tractor, and the Zero-TT, a single axle terminal tractor co-developed with Cargotec USA, the world?s largest maker of terminal tractors.
Corporate Office
2230 E. Artesia Blvd.
Long Beach, CA 90805
Phone: 310.454.5658
Fax: 310.450.0202
Island Stock Transfer
100 2nd Avenue South, Suite 705S
Saint Petersburg, FL 33701
Phone: 727- 289-0010
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