United States Oil and Gas Corp (fka USOG)

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For all USOG investors with questions about this halt, please go to the SEC site below that explains what is going on.

http://www.sec.gov/investor/alerts/tradingsuspensions.pdf

(Here is just one small part that explains what will happen after the ten day suspension.)

Will trading automatically resume after ten days?

It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that trade in the over-the-counter market (also commonly called the “OTC market”, which includes the Bulletin Board and OTC Markets (f/k/a Pink Sheets)), trading does not automatically resume when a suspension ends. Before OTC stock quoting can resume after a suspension period, SEC regulations require a broker-dealer to review specific information about the company. If a broker-dealer does not have confidence that a company’s financial statements are reasonably current and accurate in all material respects, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a quote for the company’s stock. The OTC markets function through dealer systems where only broker-dealers may quote and facilitate trading in securities.

In contrast to stocks that trade on the OTC market, stocks that trade on an exchange or Nasdaq resume trading as soon as an SEC suspension ends.

If the suspended stock resumes trading, why is it trading at a much lower price?

The trading suspension may raise serious questions and cast doubts about the company in the minds of investors. While some investors may be willing to buy the company’s stock, they will do so only at significantly lower prices.