OTCPK:GNOLF - Post by User
Comment by
hohuminvestoron Feb 01, 2022 3:13pm
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Post# 34386496
RE:RE:RE:RE:How apropos. Tomorrow is Groundhog Day.
RE:RE:RE:RE:How apropos. Tomorrow is Groundhog Day. The stock is being revoked. Trading will cease at some point. I don't know how long it takes. Might be an appeals process. But if you read the SEC ruling that Verne posted an appeal seems unlikely. In the ruling the SEC at one point accuses Lifschultz of lying basically, as well as directly accusing him of a flippant attitude and attempted an end-run around. They have had it with him. The SEC does not revoke securities easily, and rarely if ever describes people in these derogatory of terms. This is above and beyond the pale.
The SEC may revoke the registration of stocks. In some circumstances, the SEC may revoke the registration of a defunct company's stock. Section 12(j) of the Exchange Act authorizes the SEC to revoke the registration of a security if the issuer fails to comply with the federal securities laws. Broker-dealers may not execute any trades in stocks whose registration has been revoked pursuant to Section 12(j).