SEC Suspends Trading of Issuers

Jack Humphrey, Regulatory journalist
January 31, 2012 /

The U.S. Securities and Exchange Commission has temporarily suspended the trading in the securities of several issuers, commencing at 9:30 a.m. EST on January 25, 2012 and terminating at 11:59 p.m. EST on February 7, 2012.

The issuers include Tornado Gold International Corp. (TOGI), Twin Faces East Entertainment Corp. (TFAC), Universal Ice Blast, Inc. (UIBT), US Farms, Inc. (USFM), US Microbics, Inc. (BUGS), Visitel Network, Inc. (a/k/a PRG Group, Inc.) (PRGJ).

The Commission temporarily suspended trading in the securities of the foregoing companies due to a lack of current and accurate information about the companies because they have not filed certain periodic reports with the Commission. This order was entered pursuant to Section 12(k)
of the Securities Exchange Act of 1934 (Exchange Act).

The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by these companies.

Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies unless and until the broker or dealer has strictly complied with all of the rovisions of the rule.

If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of these companies that have been subject to trading suspensions until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met.

Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

 

Share your opinion