SEC Continues Trading Suspensions to Prevent Custodianship Fraud

On March 21, 2014, the Securities and Exchange Commission (the “SEC”) announced the trading suspension of trading of the following issuers, commencing at 9:30 a.m. EDT on March 20, 2014 and terminating at 11:59 p.m. EDT on April 2, 2014:

· IVI Communications, Inc. (IVII)

· Omnicity Corp. (OMCY)

· Precision Petroleum Corporation (PPTO)

· PSB Group, Inc. (PSBG)

· Sustainable Power Corp. (SSTP)

· Whitehall Jewelers Holdings, Inc. (n/k/a WJ Holdings Liquidating Company) (WHJH)

· Network Dealer Services Holding Corp. (NTDR)

· NextFit, Inc. (NXTZ)

· Rocky Mountain Minerals, Inc. (RMMI)

· Titan Technologies, Inc. (TITT)

· Trudy Corporation (TRDY)

· UAGH, Inc. (UAGI)

· Uranium 308 Corp. (URCO)

The SEC issued the trading suspensions to prevent custodianship and other forms of corporate hijackings of dormant issuers.  The SEC announcement reflects the foregoing companies had a lack of current and accurate information and had not filed certain periodic reports with the SEC. This SEC’s trading suspension order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).

 The SEC 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 provisions 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. If Any broker, dealer or other person has any information which may relate to this matter, they should immediately communicate it to the Delinquent Filings Branch of the Division of Enforcement at (202) 551- 5466, or at [email protected].

For further information about this securities law blog post, please contact Brenda Hamilton, Securities Attorney at 101 Plaza Real S, Suite 202 N, Boca Raton, Florida, (561) 416-8956, by email at [email protected] or visit  www.securitieslawyer101.com.   This securities law blog post is provided as a general informational service to clients and friends of Hamilton & Associates Law Group and should not be construed as, and does not constitute, legal and compliance advice on any specific matter, nor does this message create an attorney-client relationship. Please note that the prior results discussed herein do not guarantee similar outcomes.

Hamilton & Associates | Securities Lawyers
Brenda Hamilton, Securities Attorney
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Boca Raton, Florida 33432
Telephone: (561) 416-8956
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www.SecuritiesLawyer101.com