SEC Suspends Trading of Sixty-One Companies Over Concerns About the Accuracy and Adequacy of Publicly Disseminated Information Pursuant to § 12(k)

On June 3, 2013, the Securities and Exchange Commission (“SEC”), pursuant to Section 12(k) of the Securities Exchange Act of 1934, temporarily suspended trading in the securities of a number of OTC issues “because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning the companies’ operating status, if any.” Operation “Shell Expel” has been an ongoing project of the SEC which included the suspension of 379 companies in 2012.  In the press release, the SEC stated that

In this latest review of microcap stocks nationwide using enhanced intelligence technology in the Enforcement Division’s Office of Market Intelligence, the SEC identified these clearly dormant shell companies in at least 17 states and one foreign country. By suspending trading in these companies, they’re obligated to provide updated financial information to prove they’re still operational, essentially rendering them useless to scam artists now that they are no longer flying under the radar.
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Pump-and-dump schemes are among the most common types of fraud involving empty shell companies. Perpetrators will tout a thinly-traded microcap stock through false and misleading statements about the company to the marketplace. They purchase the stock at a low price before pumping the stock price higher by creating the appearance of market activity and drawing investor interest. They dump the stock for significant profit by selling it into the market at the higher price once investors have bought in.

(Emphasis added).

The companies identified in the SEC’s release were as follows:

Company Ticker
1. 3CI Complete Compliance Corp. TCCC
2. AHPC Holdings, Inc. GLOV
3. American Utilicraft Corp. AMUC
4. Austin Farms Inc. AUFR
5. BancPro, Inc. BCPO
6. Baxley Federal Savings Bank BAXF
7. CBR Brewing Co., Inc. CBRAF
8. Centerpoint Bank (Bedford, NH) CPOB
9. China Renyuan International, Inc. CRNY
10. Compass Plastics & Technologies, Inc. CPTI
11. Devonshire Consolidated, Inc. DVNO
12. Edge Business Services Corp. EGBS
13. Egghead.com, Inc. EGHDQ
14. Environmental Corp. of America ECAM
15. Environmental Fiber Technologies, Inc. EVFB
16. Extreme Motorsports of California, Inc. EMOC
17. Fidelity First Financial Corp. FFIRD
18. Fortune Market Media, Inc. FTMK
19. Franklin Ophthalmic Instruments Co., Inc. FKLN
20. Futurebiotics, Inc. VITK
21. Geneva Financial Corp. GNVN
22. Globalnet Systems Ltd. ISDN
23. Icy Splash Food & Beverage, Inc. IFBV
24. Imaging Center Inc. (The) TIGC
25. InAmerica, Inc. INAX
26. IndieMV Media Group, Inc. IDMV
27. Integrated Bio Energy Resources, Inc. IBIE
28. Interactive Brand Development, Inc. IBDI
29. ISI Technology Corp. ISYI
30. Isomet Corp. IOMT
31. Matinee Media Corp. MNEM
32. MediaBay, Inc. MBAY
33. Metricom, Inc. MCOMQ
34. Midnight Holdings Group, Inc. MHGI
35. Municipal Insurance Co. of America MPAL
36. Myriad Entertainment & Resorts, Inc. MYRA
37. Oxford Capital Corp. OXFO
38. PanAmerican BanCorp PABN
39. Pennsylvania Warehousing & Safe Deposit Co. PAWH
40. Pipejoin Technologies, Inc. PPJN
41. Pogo! Products, Ltd. PGOI
42. PopMail.com, Inc. POPM
43. Premium Energy Corp. PPTL
44. Relax Investments, Ltd. RLXI
45. Riptide Worldwide, Inc. RTWW
46. Rocket City Enterprises, Inc. RCTY
47. Rocketinfo, Inc. RKTI
48. Ronco Corp. RNCP
49. Silver Star Energy, Inc. SVSE
50. Sound Health Solutions, Inc. SHSO
51. Sovereign Exploration Associates International, Inc. SVXA
52. Sports Concepts, Inc. SCPT
53. Sports Media, Inc. SPTS
54. TMT Capital Corp. TMTP
55. UniMark Group, Inc. (The) UNMG
56. Verdant Brands, Inc. VERD
57. Viking Power Services, Inc. VKPW
58. Vinings Investment Properties Trust VIPPS
59. Washington Life Insurance Co. of America WLIA
60. Wi-Tron, Inc. WTRO
61. Zone Mining Ltd. ZMNL

See SEC Release No. 69678 (June 3, 2013) and the Order of Suspension of Trading.