Thursday, October 18, 2018 11:53:44 AM
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 graveyard. Less than 0.1% 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 following a 3-year period of delinquency and complete lack of accounting for mismanaged funds and unexplained dilution)
• Questions about the accuracy of publicly available information, including in company press releases
(Do I even need to explain this one? SHMN recklessly and negligently allowed their unnamed “PR agency” to publish fictitious and fraudulent information in official PRs with ZERO oversight whatsoever)
* 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 announcement of a non-existent “binding LOI” with an unnamed company, ran concurrently with a silent dilution and sale of 108 million shares for an unexplained 2014 convertible note with an unnamed company, I mean this has to just be a coincidence, right???)
Recent SHMN News
- Shares of this BioPharma on a Tear as it Successfully Engineered a T-Cell From a Healthy Human Donor • AllPennyStocks.com • 06/10/2024 06:30:00 PM
- Gene Editing Company Joins Forces to Advance Gene Therapy • AllPennyStocks.com • 04/01/2024 03:46:00 PM
Transforming Alzheimer's Treatment: Innovative Combinations to Boost Cognition • PFE • Oct 2, 2024 9:00 AM
Unitronix Corp Unveils Cryptocurrency Investment Portfolio Strategy • UTRX • Oct 2, 2024 8:40 AM
Integrated Ventures, Inc Reports Total 2024 Revenues Of $5,863,935 vs $3,862,849 for 2023. • INTV • Oct 1, 2024 9:00 AM
Nightfood Signs Letter of Intent to Acquire Los Angeles Cooking School, Integrating Automation and Robotics with World-Class Culinary Training • NGTF • Oct 1, 2024 8:30 AM
ZenaTech, Inc. (NASDAQ: ZENA) To Commence Trading Today • COOP • Oct 1, 2024 7:00 AM
Element79 Gold Corp secures loi for launching tailings reprocessing business in Arequipa, Peru • ELMGF • Oct 1, 2024 6:38 AM