Business
SEC Suspension of Trading
SEC Suspension of Trading.
About this update from Nano Magic Inc.
[{"type":"text","content":"UNITED STATES OF AMERICABefore theSECURITIES AND EXCHANGE COMMISSIONSECURITIES EXCHANGE ACT OF 1934Release No. 88789 / April 30, 2020The U.S. Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934, of trading of the securities of Nano Magic Inc. (NMGX) (CIK No. 0000891417), of Bloomfield Hills, Michigan at 9:30 a.m. EDT on May 1, 2020, and terminating at 11:59 p.m. EDT on May 14, 2020.The Commission temporarily suspended trading in the securities of NMGX because of questions regarding the accuracy and adequacy of information in the marketplace since at least February 24, 2020. Those questions relate to publicly available information concerning NMGX including: (a) information in the marketplace claiming that the Company has a patent for a disinfectant that kills \"coronavirus\"; and (b) a statement made by NMGX on April 7, 2020 regarding the Company’s involvement in the fight against COVID-19.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 the company.Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not it has complied with the rule, it should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5777. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, it should refrain from entering quotations relating to NMGX's securities until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation that 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 that may relate to this matter, they should immediately contact Kelly L. Gibson, Regional Director, at (215) 597-3258, or Kingdo...