SEC Suspensions & Revocations

[TenKay]

CHIT, PDXP, VICT SEC Suspension

https://www.sec.gov/litigation/suspensions/2018/34-82726.pdf

Orders:

https://www.sec.gov/litigation/suspensions/2018/34-82724-o.pdf

https://www.sec.gov/litigation/suspensions/2018/34-82725-o.pdf

https://www.sec.gov/litigation/suspensions/2018/34-82726-o.pdf

"The SEC’s trading suspension orders state that recent press releases issued by CHIT, PDXP and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things. According to the SEC order regarding CHIT, it also announced the execution of a financing commitment to launch an initial coin offering.

The SEC’s orders also say there are questions regarding the nature of the companies’ business operations and the value of their assets, including in press releases issued beginning in early January 2018.

Additionally, the Commission suspended trading in the securities of CHIT because of its delinquency in filing annual and quarterly reports. In August 2017, the SEC warned investors to be on alert for companies that may publicly announce ICO or coin/token related events to affect the price of the company’s common stock."