***SHMN now fully qualifies for SEC suspension per suspension guidelines. To make matters worse, OTC recently downgraded SHMN from delinquent to defunct, meaning Grey Market or delisting might be right the corner for this pathetic shell company operated out of a rented mailbox.
Federal law authorizes the SEC, as the federal oversight and investor protection agency, to issue a precautionary 10 day suspension to ANY stock traded on a US market, like SHMN.
OTC Markets automatically removes any company that receives an SEC suspension from quoted trading, or “Grey Market” commonly referred to as the OTC geaveyard. Less than .01% of OTC companies that receive an SEC suspension return to quoted trading (99.9% are scams like SHMN and this make no effort to apply for reinstatement).
From SEC.gov
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;
(OTC declared SHMN dark and defunct in August)
• Questions about the accuracy of publicly available information, including in company press releases
(Do I even need to explain this one?)
* Questions about trading in the stock, including trading by insiders, potential market manipulation, and the ability to clear and settle transactions in the stock
(2500% climb on a fictitious “binding LOI” with an unnamed company press campaign, ran concurrently with a silent dilution of 108 million shares, I mean this has to just be a coincidence, right???)
