Business
Nano Magic Inc. Responds to Securities Trading Suspension
Nano Magic Inc. Responds to Securities Trading Suspension.
About this update from Nano Magic Inc.
[{"type":"text","content":"\n DETROIT, Michigan, May 06, 2020 (GLOBE NEWSWIRE) -- Nano Magic Inc. (OTCMKT: NMGX), , announced today, in connection with an Order of Suspension of Trading issued on April 30, 2020 by the Securities and Exchange Commission (“SEC”), that neither the Company, nor its officers or directors were the source of “information in the marketplace claiming that the Company has a patent for a disinfectant that kills ‘coronavirus’” referenced in the Order instituting a 10-day suspension in the trading of the Company’s securities that the SEC described as in the public interest and the protection of investors. The Company believes that the “information” to which the SEC refers is information that may have been posted by third parties on internet message boards. The Company cautions investors to rely only on information released by the Company in its current and periodic reports filed with the SEC, and in press releases that the Company, from time to time, may issue. The Company has a strict policy of not communicating on internet message boards and a policy of not communicating with persons seeking to obtain information from the Company outside of the Company’s public filings and official statements. The SEC, in 2013, published a warning for investors that the internet enables individuals and companies “to communicate with a large audience … by … posting a message on an online bulletin board, entering a discussion in a live ‘chat’ room, or sending mass e-mails….But it’s nearly impossible for investors to tell the difference between fact and fiction.” Accordingly, persons interested in accurate and current information about the Company only should consult the Company’s public SEC filings and official statements. The Company stands fully behind the accuracy of its public SEC filings and official statements. The Company at no time and in no medium has communicated or published information claiming that “the Company has a patent for a disinfectant that kills ‘coronavirus.’” The Company has no knowledge of the source of such information entering the marketplace. The Company’s practice is to cooperate with non-public inquiries conducted by regulators. The Company does have four issued patents – two...