SEC Suspends Trading of 5 Companies
The U.S. Securities and Exchange Commission has temporarily suspended the trading in the securities of four issuers.
The suspension covers the trading in Aduddell Industries, Inc. (ADDL), Capital Markets Technologies, Inc. (CMKT), Challenger Powerboats, Inc. (CPBXQ), CLX Medical, Inc. (CLXM), and China North East Petroleum Holdings Limited (NEP).
The Commission temporarily suspended trading in the securities of the first four companies due to a lack of current and accurate information about the companies because they have not filed certain periodic reports with the Commission.
Meanwhile, Qqestions have arisen regarding the accuracy and completeness of information contained in NEP’s public filings with the Commission concerning, among other things, certain transfers of cash from the company’s bank accounts to the personal bank accounts of related parties.
NEP is a Nevada corporation with principal executive offices in New York and all of its oil drilling operations in the People’s Republic of China, and is traded on NYSE Amex.