16 July – LAWFUEL – The Law News Network – The Securities and Exchange Commission temporarily suspended trading in the common stock (ticker symbol NCIS) and Series A 8.5% convertible preferred stock (ticker symbol NCISP) of NetCurrents Information Services, Inc., a Delaware corporation formerly based in Beverly Hills, California, for ten days based upon the lack of current and accurate information concerning these securities because NetCurrents is delinquent in its periodic filing obligations under Section 13(a) of the Securities Exchange Act of 1934 (“Exchange Act”). These orders were entered pursuant to Section 12(k) of the Exchange Act. The trading suspension commences at 9:30 a.m. EDT on July 15, 2005, and terminates at 11:59 p.m. EDT on July 28, 2005.
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not they have complied with the rule, they should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, they should refrain from entering quotations relating to NetCurrents’ securities until such time as they have familiarized themselves with the rule and are certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
If any broker, dealer, or other person has any information which may relate to this matter, they should immediately provide the information to Kelly Bowers, Assistant Regional Director, at the Commission’s Pacific Regional Office, (323) 965-3924.