The suspension period is used to investigate the claims, and basically the SEC is saying that MGLG stock was brought to life by hijacking a shell or inactive company. Basically what happens is... someone representing MGLG would say they are an officer that has permission to use the CUSIP # of the unsuspecting shell. They then take over that shell by issuing shares. The investigation process is underway, and the SEC is usually right once they actually DO decide to take SOME action.
This certainly may explain why Scottrade has run from trading MGLG and no longer allows buys on the stock. This doesn't look good at all, and I wouldn't be shocked if it never trades again.
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