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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: ayeyou who wrote (247937)	8/25/2017 11:22:03 AM
From: teevee	Read Replies (1) \| Respond to of 312867

SEC halts First Bitcoin Capital that would never happen on a wild west exchange like the TSX-V;-) Just as there are hundreds of marijauna companies now, there will be 100's of crypto's listed on the VSE.

To: ayeyou who wrote (247937)	8/26/2017 7:20:56 AM
From: kidl	Read Replies (2) \| Respond to of 312867

And another one ... SEC halts American Security Resources U S Securities and Exchange Commission (U:*SEC) Friday August 25 2017 - Street Wire Also American Security Resources Corp (U:ARCS) Street Wire by Mike Caswell For the second time in two days, the U.S. Securities and Exchange Commission has halted a Canadian digital coin company, with the regulator moving against American Security Resources Corp. on Friday morning. The SEC says that there are questions about the company's transition to a crypto currency issuer. In particular, the regulator cites a news release about the acquisition of a Toronto payment company. The halt comes with American Security having gone to 70.5 cents from three cents in a month. (All figures are in U.S. dollars.) It did so after being inactive for nearly two years. The company had previously touted itself as a hydrogen fuel developer, a medical leasing firm and a property manager in the Dominican Republic. More recently it said that it was entering the crypto currency business. The halt also comes a day after the SEC halted First Bitcoin Capital Corp., a Vancouver OTC Link listing that had gone to $3.15 from 41 cents in just four days. In that halt, the SEC said that there were questions about the accuracy and adequacy of First Bitcoin's disclosure. The company had a market capitalization of $960.7-million with assets of $673,593. First Bitcoin had also planned to pay an unusual dividend, with the payment being in digital coins. The SEC has said little about its reason for halting American Security. It simply says that it has concerns about the company's change of business to crypto currency. The only specifics the regulator has provided are references to news releases the company issued on Aug. 1 and Aug. 8, 2017. In those releases, American Security said that it was entering the "booming Crypto currency markets." To that end, it was acquiring a Toronto entity named Kachingpay.com Inc. The company would purportedly operate a payment and money transfer system. Consumers would buy tokens for a digital wallet and then use those tokens to buy items at merchants. The company also said that it planned to develop something called the BitcoinMWallet. After that news, the stock quickly climbed, reaching 70.5 cents before the SEC's halt. That price gave the company a market capitalization of $103-million. The figure, however, is difficult to justify based on the company's most recent financial results. As of June 30, 2017, American Security had current assets of just $223 and total assets of $1.2-million. (Most of those assets fell under something only labelled "Industrial Materials.") Against this, it reported $3.9-million in liabilities. While American Security's balance sheet is fairly straightforward to interpret, it is far from clear why the SEC labelled the company as being from Canada. In halt notices, the SEC usually uses a company's corporate jurisdiction or address in providing a location. With American Security, however, neither one is in Canada. Its corporate jurisdiction is Nevada and it has had an address in Houston, Tex., for years. American Security's management also appears to have no Canadian members. (Its chairman, Frank Neukomm, is in the Houston area. The same is true for its president, Robert Farr.) The company's only Canadian connection looks to be its intention to acquire Kachingpay.com. It is possible that the company has an undisclosed Canadian link, but if it does the SEC has not stated what that link could be. The SEC's halt will last for 10 business days, or until Sept. 8, 2017. Unlike halts in Canada, those issued by the SEC place an onerous burden on brokers wishing to trade the stock even after it resumes. They must keep up-to-date information on the company's financial status and on its insiders. They must also have copies of the company's prospectus, its most recent annual report and any subsequent quarterly reports. In addition, brokers must maintain current information on the company's name, address, state of incorporation, number of shares outstanding, the name of its transfer agent and the nature of its products. Brokers must also know if a price quotation is from another broker or from an insider. They must provide this information to anyone interested in trading the company. © 2017 Canjex Publishing Ltd.