SEC Suspends trading in Onelife Technologies Corp (OLMM) as stock is promoted for second time this year

This morning prior to the market open the SEC supsended trading in Onelife Technologies (OLMM). Back in June I blogged about the boiler room promotion of OLMM at the beginning of the year. The stock was slapped with a caveat emptor warning by OTCMarkets on March 8, 2018 and after that appears to have been abandoned by the promoters.

The caveat emptor designation was removed on August 14th 2018 and two weeks later that was followed by another round of promotion that saw the stock start trading increased volume and the share price spike from $0.15 to $0.60.

 

SEC trading suspension release (PDF)
SEC trading suspension order (PDF)

The reason given for the trading suspension:

The Commission temporarily suspended trading in the securities of OLMM because of questions regarding the accuracy and adequacy of publicly available information in the marketplace and potential market manipulation in OneLife Technologies Corp.’s common stock.

OLMM will resume trading on the grey market (no market makers) at the open on October 23rd.

Disclaimer. No position in any stocks mentioned and I have no relationship with anyone mentioned in this post. 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.

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