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Wednesday, February 05, 2020 8:12:19 AM
Looking forward to April 1st. Hahaha
https://otcmarketresearch.com/sec-gives-delinquent-filers-a-wake-up-call/
https://sciencebasedmedicine.org/igg-food-intolerance-tests-continue-to-mislead-consumers-into-unnecessary-dietary-restrictions/
https://www.vice.com/en_us/article/43778n/food-intolerance-tests-are-shoddy-science-and-traps-for-disordered-eating
https://www.buzzfeednews.com/article/stephaniemlee/pinnertest-food-intolerance
A Form 15 is a filing done by an SEC Registrant to voluntarily deregister its stock with the SEC. By deregistering, the Issuer moves to the pink sheets and is no longer required to do periodic reports (10Qs and 10Ks) with the SEC.
It is obvious that some delinquent filers took notice of the suspension risk and decided it was better to lower the respectability and value of the public vehicle by going dark rather than risk a future SEC suspension.
Delinquent Filers that have done Form 15 filings since July 24, 2019 include:
Capstone Systems Inc (CPSN)
TransAtlantic Capital Inc (TACI)
EastGate Biotech Corp (ETBI)
China Solar & Clean Energy Solutions Inc (CSOL)
HPIL Holding (HPIL)
Chinawe.com Inc (CHWE)
China Travel Resort Holdings Inc (CTVZ)
PaperFree Medical Solutions Inc (PFMS)
Achaogen Inc (AKAOQ)
Arrayit Corporation (ARYC)
Clenergen Corp (CRGE)
Infinite Networks Corp (INNX)
CannLabs Inc (CANL)
Probably the most notable of that group is Arrayit Corporation (ARYC) which has been promising investors audited financials going back more than a year. The stock has been pumped through social media and press releases with the company unwilling to back up any of its claims through SEC filings all while Jason Nielsen (who runs some of the pump sites involved in touting ARYC) has sold tens of millions of shares into the market. Nielsen originally acquired those shares for at an average price of well under $.01/share.
Now, with the filing of the Form 15, ARYC shareholders will never see audited financials or any legitimate filings to back up the claims made by the company. Though ARYC is no longer a suspension risk as a delinquent filer, investors should still be cautioned that ARYC can still be suspended by the SEC if the SEC deems the security to be a risk to the public because of some kind of fraudulent activity.
Traders Should be on Notice too
SEC registered stocks that have fallen behind with their SEC reporting obligations are not the only ones that should be using this latest round of suspensions as a warning. Traders should take notice as well.
Delinquent Filers run the risk of being suspended at any time without warning.
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