Obocon Inc. (OBCN)

[samsamsamiam]

Necoechea/SEC Bar


here's a little explanation on what that includes:

https://www.securitieslawyer101.com/2014/penny-stock-bar/


The Securities & Exchange Commission has the authorization to bar an individual from certain conduct (“SEC Bar”) under the Securities Enforcement Remedies and Penny Stock Reform Act of 1990 (the “Remedies Act”). SEC Bars are injunctions that must be granted by a court. Upon court order, SEC Bars prohibit a variety of conduct. Bars may enjoin individuals from serving as officers or directors of a public company, from involvement with penny stock issuers, and from practicing before the SEC as an attorney or accountant.
Many penny stock market participants are unclear about the wide range of activities prohibited by a penny stock bar. [color=red] The bar prohibits owning a penny stock even for one’s own account as well as any activity related to an offering of a penny stock, including drafting disclosures. The impact of a Penny Stock Bar is that he individual is barred from acting as a promoter, finder, consultant or agent or otherwise engaging in activities with a broker, dealer, or issuer for the purpose of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock.
Section 15(b)(6)(A)(iii) of the Exchange Act authorizes the SEC to prohibit persons from participating in an offering of penny stock also known as the “Penny Stock Bar”. Section 15(b)(6)(C) defines “person participating in an offering of penny stock” to include, among other things, any person “who engages in activities with a[n] issuer for purposes of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock.”
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https://www.securitieslawyer101.com/2014/penny-stock-bar/