SEC Subpoenas MicroCap Public Company Following Claimed Blockchain Pivot
Since uplisting, the company pivoted away from iced tea and into blockchain, was de-listed from the Nasdaq, and is currently listed on the OTC Pink “No Information.” Because LBCC is currently delinquent with its SEC filings, the company now has a “Stop Sign” on OTCMarkets.com.
Matters only seem to be getting worse for Long Blockchain. In an 8-K filed last week the company states that “The Company has received a subpoena from the staff of the Securities and Exchange Commission (the “SEC”), dated July 10, 2018, seeking the production of certain documents. The Company is fully cooperating with the SEC’s investigation. The Company cannot predict or determine whether any proceeding may be instituted by the SEC in connection with the subpoena or the outcome of any proceeding that may be instituted.”
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