Maybe there is something wrong with me, but I find joy in reading the SEC litigation updates. I subscribe via RSS. This is how I learned about Terax Oil & Gas (OTC BB: TEXG.ob). The company as well as its executives have been sued by the SEC, and the company’s assets have been frozen.
Trading in the shares of Terax Oil and Gas has been suspended by the SEC from September 12 until September 25.
Of course, this is small consolation for “investors” who bought shares of the stock at $20 a year ago. They last traded at $2.65 and they are probably worth absolutely nothing now. It just goes to show that caveat emptor definitely still applies when investing in unlisted over-the-counter stocks.
Disclosure: I have no pecuniary interest in Terax. My disclosure policy makes for good reading and is best accompanied by a glass of Muscat.