Zoomlemon, The 'CE' ('Caveat Emptor') designati
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Posted On: 12/11/2020 6:54:23 PM
Zoomlemon,
The 'CE' ('Caveat Emptor') designation was set by OTC Markets website back in 2011 when there was a DTCC global lock put on the ticker and also an SEC regulatory litigation against the CEO back then based upon a conspiracy to commit fraud charge by the SEC. All of these events took place in mid-2011 and the stock has remained as flagged by the OTC Markets group with the 'CE' designation.
The current management which took over the Nevada corporation known as SFIO recently addressed this designation on social media ...
Link
"It's come to our attention that some investors aren't able to buy our stock because of the "Caveat Emptor" symbol. Please know that this is there because of mistakes made by prior management. The company is taking the necessary steps to go current and have this symbol removed"
So it appears that the new management team with Epiphany Cafe and ServeBank which has taken over the ticker have taken the necessary steps to provide filings and disclosure to OTC Markets and we are all now just awaiting approval and status change for the SFIO ticker. It seems once OTC Markets updates the status the 'CE' flag should no longer be there and the ticker should show as 'current' reporting status, but we will all have to just wait and see if that happens. At this point, only real audited financials, filings and disclosure will likely get this ticker back to a legitimate status. While the 'CE' flag is there most brokerages are not allowing clients to buy stock they only allow the selling of SFIO shares but once the status is changed, it's likely that brokerages will allow purchasing of the stock as well. Also the company will likely put out a 'PR' once OTC Markets is updated. All we can do now is wait and watch for actual real SEC filings to bring the company to current reporting status. At least the DTCC 'global lock' has been lifted since the events of 2011 'troubled waters'.
OTC Markets definition of the 'CE' designation :
GLTA
$SFIO
The 'CE' ('Caveat Emptor') designation was set by OTC Markets website back in 2011 when there was a DTCC global lock put on the ticker and also an SEC regulatory litigation against the CEO back then based upon a conspiracy to commit fraud charge by the SEC. All of these events took place in mid-2011 and the stock has remained as flagged by the OTC Markets group with the 'CE' designation.
The current management which took over the Nevada corporation known as SFIO recently addressed this designation on social media ...
Link
"It's come to our attention that some investors aren't able to buy our stock because of the "Caveat Emptor" symbol. Please know that this is there because of mistakes made by prior management. The company is taking the necessary steps to go current and have this symbol removed"
So it appears that the new management team with Epiphany Cafe and ServeBank which has taken over the ticker have taken the necessary steps to provide filings and disclosure to OTC Markets and we are all now just awaiting approval and status change for the SFIO ticker. It seems once OTC Markets updates the status the 'CE' flag should no longer be there and the ticker should show as 'current' reporting status, but we will all have to just wait and see if that happens. At this point, only real audited financials, filings and disclosure will likely get this ticker back to a legitimate status. While the 'CE' flag is there most brokerages are not allowing clients to buy stock they only allow the selling of SFIO shares but once the status is changed, it's likely that brokerages will allow purchasing of the stock as well. Also the company will likely put out a 'PR' once OTC Markets is updated. All we can do now is wait and watch for actual real SEC filings to bring the company to current reporting status. At least the DTCC 'global lock' has been lifted since the events of 2011 'troubled waters'.
OTC Markets definition of the 'CE' designation :
Quote:
"Buyer Beware. OTC Markets Group has determined that there is a public interest concern associated with the company, which may include a spam campaign, questionable stock promotion, known investigation of fraudulent activity committed by the company or insiders, regulatory suspensions, or disruptive corporate actions.
GLTA
$SFIO
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