This morning prior to market open the trading in AXM Pharma (AXMP) was suspended by the SEC.
SEC Suspension Release (pdf)
SEC Suspension Order (pdf)
The reason for the SEC trading suspension (from the release):
because of questions about the adequacy and accuracy of information concerning AXMP’s leadership and operations contained in a Quarterly Report issued by AXMP on May 14, 2018, AXMP’s press releases issued between July 2, 2018 and July 6, 2018, and a Supplemental Information Report issued by AXMP on July 5, 2018. AXMP is a Nevada corporation based in Las Vegas, NV. AXMP’s stock is quoted on OTC Link (previously “Pink Sheets”) operated by OTC Markets Group Inc. under the symbol AXMP.
Here is the quarterly report mentioned above. The supplemental information report referred to above includes the CEO’s resignation. Below are the links to the press releases issued between July 2 and July 6:
AXM Pharma Announces A Proposed Reverse Merger with A Cameroon Billionaire Businessman – GlobeNewswire | 07/02/2018
AXM Pharma Announces the Appointment of a New Chief Executive Officer – GlobeNewswire | 07/03/2018
AXM Pharma Issues Correction – GlobeNewswire | 07/07/2018
This trading suspension is related to the suspension earlier this month of WSML, CYPE, and BTHI. AXM Pharma shares many connections with those other three companies including a connection with Mandla J. Gwadiso.
Disclaimer: I have no position in any stock mentioned above. I have no relationship with any parties mentioned above. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.