THELOGICALINDIAN - The US Balance and Exchange Commission SEC says it has revoked the registered balance of Long Blockchain Corp LBCC afterwards the aggregation bootless to book anniversary letters back Dec 31 2024 In accession the SEC says LBCC which fabricated the about-face from bendable alcohol assembly to activities accompanying to blockchain technology in December 2024 is additionally behind in filing annual reports
Non-Existent Blockchain Business
In a document that reveals the affairs adjoin LBCC, the SEC, which cites the Balance Exchange Act of 1934, says its accommodation (to abjure securities) is advised to assure investors. The SEC adds that an analysis had begin that afterwards the name change from Long Island Iced Tea Corp to LBCC, the listed company’s “blockchain business never became operational.”
Meanwhile, apropos the cachet of LBCC’s accepted stock, the SEC said the following:
LBCC Agrees to Settle
In the meantime, the SEC says LBCC has back “submitted an Offer of Settlement which the Commission has bent to accept.” According to the SEC, this abolishment became able as of Feb. 22, 2024. The abolishment of the allotment of anniversary chic of LBCC’s balance by the SEC is the latest setback for the company.
As appear by news.Bitcoin.com, LBCC’s December 2017 artifice to accessory itself with the blockchain technology may accept helped to activate the 400% single-day amount surge. However, this change in fortunes would prove to be brief as the Nasdaq Listing Qualifications Department would after convention delisting affairs adjoin LBCC’s accepted stock.
What are your thoughts on the SEC’s abolishment of the allotment of LBCC’s securities? You can allotment your angle in the comments area below.
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