The SEC suspended trading in the securities of three penny stock companies (Cherubim Interests, Inc., PDX Partners, Inc., and Victura Construction Group, Inc.) due to concerns about the accuracy of statements they provided regarding acquisitions of cryptocurrency and blockchain technology.
Each company released press statements in or around January 2018, stating that it had acquired AAA-rated cryptocurrency and blockchain assets. Their similar statements prompted the SEC to examine the business operations and the value of their assets.
In accordance with Exchange Act Section 12(k), the suspensions are effective from February 16, 2018 through March 2, 2018. The issuers cannot solicit investments until certain reporting requirements are met.
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