An investigation was announced for investors in OTCMKTS:BLTO shares over potential securities laws violations by Bingo Nation Inc in connection certain financial statements.
The investigation by a law firm focuses on whether certain statements by Bingo Nation Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Las Vegas, NV based Bingo Nation Inc., formerly Nexgen Applied Solutions Inc., is engaged in the business of leasing land and buildings to licensed cannabis producers in the state of Washington, which do not have the financial resources to purchase land and build their own greenhouses.
Shares of Bingo Nation Inc (OTCMKTS:BLTO) grew from $0.15 per share in late 2016 to $3.10 per share on April 11, 2017.
On April 11, 2017, Bingo Nation Inc received a notice from OTC Markets announcing that the stock would be delisted following discovery of “ongoing promotional activities having the effect of encouraging trading of the issuer’s securities in the OTC market.” Then on April 12, 2017, the Securities and Exchange Commission issued an Order to suspend trading through April 27, 2017 citing “concerns regarding (i) the accuracy and adequacy of publicly available information in the marketplace… and (ii) potentially manipulative transactions in Bingo Nation’s common stock.”
Those who purchased OTCMKTS:BLTO shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
The post OTCMKTS:BLTO Investor Alert: Investigation concerning potential Violations of Securities Laws by Bingo Nation Inc appeared first on GroundReport.
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