This is the reason given by the SEC for hundreds of suspended OTC stocks...
because of questions regarding the accuracy of assertions by MXXXx, and by others, in press releases and other public statements to investors, and in promotional emails, concerning, among other things: (i) the company’s operations; and (ii) the company’s outstanding shares. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company.
It can take a year or more for the SEC to act. Seen it many times over.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.