The Commission issued an Order finding that each of the companies subject to today’s trading suspension — NeoTactix Corporation (NTCX), Graystone Park Enterprises, Inc. (GPKE), and Younger America, Inc. (YNGR) — has inadequately disclosed its assets, business operations, and current financial condition.
The SEC’s Anti-Spam Initiative, launched in March 2007, has been credited with a significant reduction in financial spam, and spam-related complaints to the SEC’s Online Complaint Center have decreased by more than two-thirds in the past year.
“The SEC’s anti-spam efforts have been remarkably successful to date, but we will not be complacent in our pursuit of unscrupulous stock promoters,” said Linda Chatman Thomsen, Director of the SEC’s Division of Enforcement. “The SEC will continue to take aggressive action against stock promoters and spammers, including those who are exploiting investors through YouTube.”
Through its Anti-Spam Initiative, the SEC has suspended trading in the securities of 50 companies and has brought several enforcement actions against spammers, promoters, and insiders. These latest three suspensions are the result of a coordinated effort between the SEC’s New York, Denver, and Washington D.C. offices. The SEC’s Anti-Spam Initiative is now part of the microcap fraud working group recently formed within the Division of Enforcement.