SEC suspends trading in securities of blockchain tech firm NXChain
The suspension is due to a lack of current and accurate information about the company because it has not filed certain periodic reports with the Commission.
The United States Securities and Exchange Commission (SEC) has announced the temporary suspension of trading in the securities of NXChain, Inc. f/k/a AgriVest Americas, Inc. (NXCN). The company claims to be a digital payments platform, operating in the crypto currency area.
In a related announcement, the SEC explains that there is a lack of current and accurate information concerning the securities of NXChain, Inc. f/k/a AgriVest Americas, Inc. (CIK No. 1039757), a void Delaware corporation located in Irvine, California with a class of securities registered with the Commission pursuant to Securities Exchange Act of 1934 Section 12(g) because it is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-Q for the period ended February 28, 2017.
On April 30, 2019, the SEC’s Division of Corporation Finance sent a delinquency letter to NXCN requesting compliance with its periodic filing requirements, which was delivered. As of August 16, 2019, the common stock of NXCN was quoted on OTC Link operated by OTC Markets Group Inc., had seven market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
The Commission says it is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of NXChain. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the company is suspended for the period from 9:30 a.m. EDT on September 10, 2019, through 11:59 p.m. EDT on September 23, 2019.