This morning in premarket the SEC suspended trading in Advanced Cannabis Solutions (CANN). CANN joins CDFT, PTOG, and AVNE on the list of marijuana stocks that have been suspended by the SEC over the last month. PTOG reopens for trading tomorrow at the open.
Unlike the other marijuana stocks that were suspended for questions over adequacy of disclosures, the SEC suspended trading in CANN because of alleged illegal sales of restricted shares. From the press release:
There are questions regarding whether certain undisclosed affiliates and shareholders of Advanced
Cannabis common stock engaged in an unlawful public distribution of securities. Advanced
Cannabis common stock is dually-quoted on the OTC Bulletin Board and OTC Link.
Trading in CANN will resume at the market open on April 10th, 2014.