SEC halts trade in mysterious $35 billion OTC stock

NeuroMama.com Search Engine Based on Neural Technology has Entered the Stock Market. (PRNewsFoto/NeuroMama, LTD.)

NeuroMama.com Search Engine Based on Neural Technology

http://www.reuters.com/article/us-neuromama-sec-idUSKCN10Q22T?il=0

The U.S. Securities and Exchange Commission on Monday temporarily halted trade in Neuromama Ltd, whose shares have quadrupled to about $56 in over the counter trading this year, citing concerns including “potentially manipulative” transactions.

The company, whose website and filings say it runs a search engine based on neural technology, is in talks to license “heavy ion fusion” and sells a line of computing devices, had a market value of about $35 billion as of the stock’s last trade on Aug. 5.

That puts the Baja California, Mexico-based company ahead of Twitter Inc, American Airlines Group Inc and Sprint Corp.

Neuromama was valued at $4.73 billion on Jan. 15, 2014, when it had 630.1 million shares outstanding, according to a regulatory filing.

The company has not filed quarterly results since then.

The SEC on Monday also cited the accuracy and adequacy of information on “the identity of the people in charge of the company” as reasons for the halt.

Steven Schwartzbard, chairman of the company’s advisory board, said the suspension was in response to pressure from short-sellers.

“We’re suffering from a negative side effect caused by our success. That’s the only way I can put it,” Schwartzbard said in an email to Reuters.

“We went public, as virtually all small public companies do, on the over-the-counter market. And everything was fine while the stock sold for $5 or $7.50 a share.”

The spike in Neuromama’s market value is redolent of the story of Cynk Technology Corp, a company with no assets or revenue whose market cap rose on paper to almost $6 billion in the span of 16 trading days in mid-2014.

http://www.everipedia.com/neuromama-ltd/

http://www.neuromama.com/

http://www.otcmarkets.com/stock/NERO/profile

———

so who are these people and what has sent their stock flying?..very suspicious movement and even more suspicious is the lack of information in regards to this company..

“The company, whose website and filings say it runs a search engine based on neural technology, is in talks to license “heavy ion fusion” and sells a line of computing devices, had a market value of about $35 billion as of the stock’s last trade on Aug. 5.”

401

~ by seeker401 on August 17, 2016.

2 Responses to “SEC halts trade in mysterious $35 billion OTC stock”

  1. hmm very odd Can’t tell if it’s real or like an ‘onion’ site

    NERO NeuroMama

    at the bottom it states
    Steven Schwartzbard, Chairman of NeuroMama, Ltd. Advisory Board.
    http://investor.neuromama.com/

    STEVEN SCHWARTZBARD – Global Financial Trust, Ltd., General Design and Marketing
    Steven (aka Vyacheslav) Schwartzbard has over 20 years of experience in former USSR countries specifically in industries of natural resources, finance and capital markets, entertainment and media and public relations.

    In 1998 Schwartzbard, via the Kremlin-based Fund “ALMAZ” advised acting prime minister Russian Sergei Kiriyenko’s cabinet and the Central Bank of Russia to cease efforts to prop up the Russian currency and cease the flight of $22.6 billion infusion by International Monetary Fund and World Bank financial package designed to support reforms and stabilize the Russian financial markets. Central Bank had been using IMF funds to artificially support price of the Russian currency, which was shorted by currency speculators. Initial suspension has led to severe erosion in investor confidence and negative chain reactions.

    The termination of supporting price of currency has been instrumental to Russia’s bouncing back from the August 1998 financial crash with surprising speed and growth in domestic industries benefiting from the devaluation, which caused a steep increase in the prices of imported goods. Russia’s economy had been helped by an infusion of cash generated by Russian enterprises, which were able to pay off debts in back wages and taxes.

    Steven Schwartzbard
    http://www.eurasialasvegas.com/steven-schwartzbard.html#.V7PAiPkrK00

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