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IF CYPE HAD NOTHING TO HIDE, THEN THE SEC WOULD NOT HAVE SUSPENDED IT! END OF STORY
Hate the game not the player....
And I'm enjoying every minute of it! Turnabout is fair play
Oh, ok...since I made money on it then I should remain quite as the scam continues? What type of logic is this?
Your question in regards to why "they" would hurt investors is addressed below..
https://www.investor.gov/additional-resources/news-alerts/alerts-bulletins/investor-bulletin-trading-suspensions#.VC6-GN479tI
Why would the SEC suspend trading in a stock?
The SEC may suspend trading in a stock when the Commission is of the opinion that a suspension is required to protect investors and the public interest. Circumstances that might lead the Commission to suspend trading include:
A lack of current, accurate, or adequate information about the company, for example, when a company is not current in its filings of periodic reports;
Questions about the accuracy of publicly available information, including in company press releases and reports, about the company’s current operational status, financial condition, or business transactions;
Questions about trading in the stock, including trading by insiders, potential market manipulation, and the ability to clear and settle transactions in the stock.
Why couldn’t the SEC forewarn investors that it was about to suspend trading in a stock?
The SEC cannot announce that it's working on a suspension. We conduct this work confidentially to maintain the effectiveness of any related investigation we may be conducting. Confidentiality also protects a company and its shareholders if the SEC ultimately decides not to issue a trading suspension. The SEC is mindful of the seriousness of suspensions, and carefully considers whether it is in the public interest and for the protection of investors to order a trading suspension.
What happens when the ten business day suspension period ends?
The SEC will not comment publicly on the status of a company when the ten-day suspension period ends because the company may still have serious legal problems. For instance, the SEC may continue to investigate a company to determine whether it has defrauded investors. The public would not know if the SEC is continuing its investigation unless the SEC publicly announces an enforcement action against the company.
Furthermore, when an SEC trading suspension ends, a broker-dealer generally may not solicit investors to buy or sell the previously-suspended over-the-counter (“OTC”) stock until certain requirements are met. Before soliciting quotations or resuming quotations in an OTC stock that has been subject to a trading suspension, a broker-dealer must file a Form 211 with the Financial Industry Regulatory Authority (“FINRA”) representing that it has satisfied all applicable requirements, including those of Rule 15c2-11 and FINRA Rule 6432.
Among other things, Rule 15c2-11 requires broker-dealers to review and maintain certain documents and information about the company, including in certain cases:
the company’s state of organization, business line, and names of certain control affiliates;
the title and class of the securities outstanding; and
the company’s most recent balance sheet and its profit and loss and retained earnings statement.
No broker-dealer may solicit or recommend that an investor buy an OTC stock that has been subject to a trading suspension unless and until FINRA has approved a Form 211 relating to the stock. If there are continuing regulatory concerns about the company, its disclosures, or other factors, such as a pending regulatory investigation, a Form 211 application may not be approved.
However, limited or “unsolicited” trading can occur in an OTC stock that has been subject to a trading suspension after the suspension ends but before a Form 211 is approved. This may allow investors to trade the stock when a broker or adviser has not solicited or recommended such a transaction. Even though such trading is allowed, it can be very risky for investors without current and reliable information about the company.
Will trading automatically resume after ten days?
It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that quote in the OTC market (which includes stocks quoted on the Bulletin Board and OTC Link (f/k/a Pink Sheets)), quoting does not automatically resume when a ten-day suspension ends. Before OTC stock quoting can resume after a suspension period, SEC regulations require a broker-dealer to review specific information about the company in accordance with Exchange Act Rule 15c2-11 and FINRA Rule 6432. If a broker-dealer does not have confidence that a company's financial statements are reasonably current and accurate in all material respects, especially in light of the questions that may have been raised by the SEC suspension action, then a broker-dealer may not publish a quote for the company's stock. The OTC markets function through dealer systems where only broker-dealers may quote and facilitate trading in OTC stocks.
In contrast to stocks that trade in the OTC market, stocks that trade on an exchange resume trading as soon as an SEC suspension ends.
If the suspended stock resumes trading, why is it trading at a much lower price?
The trading suspension may raise serious questions and cast doubts about the company in the minds of investors. While some investors may be willing to buy the company's stock, they will do so only at significantly lower prices.
Take precautions following an SEC trading suspension: check for reliable information.
Investors should be very cautious in considering an investment in a stock following a trading suspension. At the very least, investors should assure themselves that they have current and reliable information about a company before investing.
Research the Company: Always research a company before buying its stock, especially following a trading suspension. Consider the company’s finances, organization, and business prospects. This type of information often is included in filings that a company makes with the SEC.
Review the Company’s SEC Filings: This information is free and can be found on the Commission’s EDGAR filing system. Some companies are not required to file reports with the SEC. These are known as “non-reporting” companies. Investors should be aware of the risks of trading the stock of such companies, as there may not be current and accurate information that would allow investors to make an informed investment decision.
Be Skeptical: Investors should always ask why someone provides them a “hot” tip. Investors should also do their own research and be aware that information from online blogs, social networking sites, and even a company’s own website may be inaccurate and sometimes intentionally misleading:
If current, reliable information about a company and its stock is not available, investors should consider seriously whether this may be a good investment.
Why would the SEC suspend trading of a stock when it knows that such action will hurt current shareholders?
The SEC suspends trading in a security when it is of the opinion that the suspension is required in the public interest and to protect investors. Because a suspension often causes a dramatic decline in the price of the security, the SEC suspends trading only when it believes that the public may be making investment decisions based on a lack of information, or false or misleading information. A suspension may prevent potential investors from being victimized by a fraud.
How can investors find out if the stock will trade again after a suspension?
Investors can contact the broker-dealer who sold you the stock or a broker-dealer who quoted the stock before the suspension. Ask the broker-dealer if it intends to resume publishing a quote in the company's stock.
If there is no market to sell my security, what can investors do with their shares?
If there is no market to trade the shares, they may be worthless. Investors may want to contact their financial or tax advisers to determine how to treat such a loss on their tax returns.
What can investors do if the company acted wrongfully and they have lost money?
If investors want to get their money back, they will need to consider taking legal action on their own. The SEC cannot act as their lawyer. Investors must pursue all of their legal remedies themselves or with the assistance of legal counsel they engage themselves. For more information about how to protect your legal rights, including finding a lawyer who specializes in securities law, read our flyer, How the SEC Handles Your Complaint or Inquiry.
To learn how to file an arbitration action against a broker-dealer, investors can contact the Director of Arbitration at FINRA. FINRA also offers mediation as an option before going to arbitration.
Where can investors get information about trading suspensions?
Investors can find a list of companies whose stocks have been suspended by the SEC since October 1995 on our website.
How can investors learn more?
We offer educational materials so that investors can develop an understanding of the securities industry and learn how to avoid costly mistakes and fraud. Our educational materials also provide tips on how investors can invest wisely. Investors can order our free publications by calling (800) SEC-0330, or access them on the Internet through the SEC’s Investor.gov website. For additional educational information for investors, see the SEC’s Investor.gov website or the Office of Investor Education and Advocacy’s homepage. For additional information relating to (i) trading suspensions and (ii) the risks of investing in low-priced stocks, see:
Our publication, Microcap Stock: A Guide for Investors
SEC Trading Suspensions: http://www.sec.gov/litigation/suspensions.shtml
Company filings with the SEC
Section 12(k) of the Exchange Act
Exchange Act Rule 15c2-11; FINRA Rule 6432
Form 211
LOL.. This stock has gone from valuations of $18, $36, and $54 to coming back from the Greys after an SEC suspension. You do realize the SEC suspended not 1 but 3 plays linked to the same players, right?
Yup! That's why I reported :)
This was one of my favorites. Mandla J. Gwadiso https://mobile.twitter.com/mj_gwadiso/status/1012823063702982656
@mj_gwadiso
Whatever you do, never get in the ring with me for you will lose everything you got. If I did you no harm, keep the hell away from me, or you will die like a homeless dog. This ain't no joke, you will get knocked by a car and die. I serve a God who destroys haters for good.
6:20 PM · Jun 29, 2018
Mandla J. Gwadiso
@mj_gwadiso
Next time ya'll hear the name Palewater behind a ticker, ya'll better know that ticker means business, that ticker means transparency, that ticker means a merger, that ticker means cash generating assets. We don't mess around development stage opportunities. $CYPE, $WSML, $BTHI.
4:25 PM · Jun 27, 2018
Comedy?
I'm SO eager to slap the ask tomorrow based on previous valuations. Oh, wait.
Oh my... I just spit out my vodka and tonic!!! Whew...
I was in a serious meeting today between 2 and 4 but just couldn't keep myself from checking in on the posts here.... The people in the meeting thought I had lost it when I kept chuckling when reading your posts. Thanks for the laughs!
Your statement is very true! I lost a ton of money off of a Pinky Play years ago when others had warned me that it was a total scam, but I just didn't listen.
This talk about returning to trading and getting your money back may be therapeutic to those that havent realized the gravity of the situation...but sadly...it's DONE!
It will become a $3k yearly write off for those that had that much and more in the play!
BTW, where's CROOKSTEIN!?
On a flight to no mans land
I'm truly enjoying how when the SHI* hits the fan that the discussion gets real! :)
CYPE has been drawing attention since the first part of May. This is SO trivial. The outcome of the SEC investigation will expose the truth of All the plays and players behind them!
Because CYPE draw too much attention that was being cheered about just a few days ago.
Totally opposite
Then pose your questions to FINRA rather than other everyday people here for cryin out loud!
Still missing the point. No one was informing the SEC until 5/28/2018! Get it?
Thank you!!
How would the majority shareholders approve a name change without all current shareholders being accounted for and notified by Proxy of the vote!!??
NEW YORK, June 28, 2018 (GLOBE NEWSWIRE) -- Century Petroleum Corp. (OTC:CYPE) (“CYPE” or the “Company”) today announced that the Company’s Board of Directors and majority shareholders have voted to officially change the Company’s name to Ibeto Cement International Corporation, reflecting the Company’s new business direction. Century Petroleum has filed its plans for this proposed name change with the Financial Industry and Regulatory Authority (FINRA) and has requested a new ticker symbol that better suits the new name of the Company.
Too funny indeed!
How is your question relevant to the suspensions of MILOST, Palewater, Primewater, And Brooklyn Throne tickers that are associated with Mandla Gwadiso, Brian Kislter, Joe Arcaro, and Baumann?!
It's NOT just CYPE were talking about here.
They may have approved WSML, but that's before people started informing the SEC about suspect activity.
All the plays are now TOAST! And that's regardless of what was approved prior to today's SEC PR.
LRDR wasn't suspended today... but that's because they haven't been related to MILOST and the gang... Yet!
It's very very simple.... (And I've said this numerous times) Go to MILOST website and review each of MILOST past portfolio dealings. If you dig deep enough they have ALL been a bunch of HYPE that turned out to be NOTHING.
Bottom line here... Some made money and some will and have lost money speculating on Pinkies! You play with fire and sometimes you get burned. Tough lesson for some?! Yup! I've experienced my own over the past 15 years. It's a hard pill to swallow indeed, but even IF these go back to trading, they will be on the GREYS! Who in their right mind is gonna want to buy a Grey Pinky that was just suspended?!
I've had a great day knowing that our justice system acutally works for a change!
Because WSM/ was the first RM play these guys have done this year and no one had reported the suspected fraud going on.
Malone Bailey IS legit, but have they truly been hired to do what has been released in the PR's? Hmm
For sure...not to mention that there is a very dark cloud over anything he touches from now on. Would like to see if JA and BK get roped into this ( that's if they are even different people). Strange he's not posting like normal on his Twitter feed! :)
I'm done posting here for the moment as it's just becoming a bunch of repeat noise.
Go CYPE... WEEEEE
Yup. Between that, and a MM filing to trade this again is HIGHLY UNLIKEY.
I would not be surprised in the least if Ibeto is completely unaware of this, or at least will now distance themselves from all of this.
For now, the discussion is pointless until the SEC makes another move on their investigation.
And yet another 1...., NOW go and research the past plays on the MILOST portfolio website that I mentioned a week ago.... https://seekingalpha.com/symbol/EEVR/splits
Yup.. And made very good money, but then got OUT once the details of the merger and players behind it were revealed. Anything else?