Business
SEC Suspension of Trading
SEC Suspension of Trading.
About this update from Victura Construction Group Inc
[{"type":"text","content":"UNITED STATES OF AMERICABefore theSECURITIES AND EXCHANGE COMMISSIONSECURITIES EXCHANGE ACT OF 1934Release Nos. 82724; 82725; 82726 / February 15, 2018The Securities and Exchange Commission today suspended trading in three companies amid questions surrounding similar statements they made about the acquisition of cryptocurrency and blockchain technology-related assets. The temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the \"Exchange Act\"), of trading in the securities of Cherubim Interests, Inc. (\"CHIT\"), PDX Partners, Inc. (\"PDXP\"), and Victura Construction Group, Inc. (\"VICT\"), begins at 9:30 a.m. EST on February 16, 2018, and terminates at 11:59 p.m. EST on March 2, 2018.The SEC's trading suspension orders state that recent press releases issued by CHIT, PDXP and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things. According to the SEC order regarding CHIT, it also announced the execution of a financing commitment to launch an initial coin offering.The SEC's orders also say there are questions regarding the nature of the companies' business operations and the value of their assets, including in press releases issued beginning in early January 2018. Additionally, the Commission suspended trading in the securities of CHIT because of its delinquency in filing annual and quarterly reports.In August 2017, the SEC warned investors to be on alert for companies that may publicly announce ICO or coin/token related events to affect the price of the company’s common stock.The Commission cautions broker-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 he has complied with the rule, he should not enter any quotation but immediately contact the staff in the Division of Trading and M...