The SEC shoots first, then after a company bleeds to death.... starts answering questions about 'why' to said company? No, seldom if ever!
It happens all the time and continues.... thus another strong reason, and why fewer each year are willing to hold anything more than a few hours [one trading session].
Unfortunately, most of the time you never hear why from the SEC as to the reason for the halt, they use 'generalizations'.
* Promotion/Spam without Adequate Current Information — The security is being promoted to the public, but adequate current information about the issuer has not been made available to the public. OTC Markets believes adequate current information must be publicly available during any period when a security is the subject of ongoing promotional activities having the effect of encouraging trading of the issuer's securities. At such instances, as a matter of policy, when adequate current information is not made available, OTC Markets will label the security as "Caveat Emptor." Promotional activities may include spam email, unsolicited faxes or news releases, whether they are published by the issuer or a third party.
* Investigation of Fraud or Other Criminal Activities — There is an investigation of fraudulent or other criminal activity involving the company, its securities or insiders. When OTC Markets becomes aware of such investigation, the companies’ securities may be subject to Caveat Emptor.
* Suspension/Halt — A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
* Undisclosed Corporate Actions — The security or issuer is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
* Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the issuer has not made adequate current information available to the public.
* Other Public Interest Concern — OTC Markets has determined that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.
The SEC gets busy with the next one and never looks back and rarely if ever [even if proven innocent] will a company come out of suspension.
They should just shut down everything below OTCQB thus eliminating their precious time and millions of taxpayer dollars!
But like upper management within large bureaucratic organizations, especially the ever-sicking government... they'd have nothing else to do.
If news or trading activity catches my attention one of the first things I do after checking who's posting at ihub is go to otcmarkets.com and check a company's reporting status on the symbol's "company info" page. Here's REER's
Note that it says: "US Reporting: SEC filer" Under that it show's the last 10q or 10k filed. In REER's case it was back in 2007. Then I go to the Secretary of State page for the state the company is incorporated in. In REER's case that's Nevada, where they've not filed since 2008 and are "revoked." Both of those situations are huge red flags for me. I rarely play them except for a daytrade.
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