Indocan Resources Inc. (IDCN)

[Cassandra]

SEC suspends trading of 7 non-compliant companies

--SEC has been ramping up efforts to crack down on companies that are dormant or delinquent in their public disclosures.

(Updated to include suspension of Indocan Resources Inc.)

The U.S. Securities and Exchange Commission temporarily suspended trading of Indocan Resources Inc. /quotes/zigman/159807/quotes/nls/idcn IDCN -50.00% because of questions concerning the adequacy of the company's publicly available information.

The Morehead City, N.C., company trades in the over-the-counter markets and the suspension ends June 7.

The SEC also suspended trading of six other stocks through June 6, as the regulator continues to crack down on companies that haven't filed periodic reports.

The suspended companies are Quintek Technologies Inc. /quotes/zigman/177008/quotes/nls/qtek QTEK -11.76% ; Saint James Co. /quotes/zigman/247855/quotes/nls/stjc STJC 0.00% ; Urigen Pharmaceuticals Inc. /quotes/zigman/1375838/quotes/nls/urgp URGP -22.50% ; Valor Energy Corp. /quotes/zigman/571260/quotes/nls/vlen VLEN 0.00% ; Wherify Wireless Inc. /quotes/zigman/386680/quotes/nls/wfyw WFYW 0.00% ; and WinWin Gaming Inc. /quotes/zigman/318053/quotes/nls/wnwn WNWN +300.00% .

The SEC has halted trading of several noncompliant companies over the past year as it ramps up efforts to crack down on fraud, such as pump-and-dump schemes, involving microcap companies that are dormant or delinquent in their public disclosures. Microcap firms typically have limited assets and low-priced stock that trades in low volumes.

http://www.marketwatch.com/story/sec-suspends-trading-of-7-non-compliant-companies-2012-05-24