Qazi v. Mazs Mart Corp.
raw: In re Sandy Steele Unlimited Inc.
In re Sandy Steele Unlimited Inc., No. 1:20-cv-11092 (June 18, 2020)
Exhibit of Gomes et al.;
summary
The SEC suspended trading of Sandy Steele Unlimited Inc. securities from April 6 to April 20, 2020, due to misleading COVID-19 mask production claims and suspicious offshore selling.
paragraph
The SEC issued an order to suspend trading in Sandy Steele Unlimited Inc. (SSTU) due to concerns regarding inaccurate market information and suspicious trading activity. The Commission identified misleading email promotions claiming the company could produce high-demand COVID-19 masks, despite financial statements showing limited operations and inventory. The order also highlighted substantial concentrated selling of the stock by offshore accounts.
narrative
The Securities and Exchange Commission (SEC) ordered a trading suspension for Sandy Steele Unlimited Inc. from April 6, 2020, through April 20, 2020. The action was prompted by concerns regarding the accuracy of information in the marketplace, specifically involving deceptive email stock promotions. These promotions falsely claimed the Minnesota-based company was an operational garment manufacturer capable of producing high-demand COVID-19 protective masks. However, the company's publicly reported financial statements indicated very limited operations, sales, or available inventory. Furthermore, the SEC identified suspicious trading activity characterized by substantial, concentrated selling of the stock by offshore accounts. The suspension was implemented under Section 12(k) of the Securities Exchange Act of 1934 to protect the public interest and investors.
Classified pump-and-dump(confidence 95%). EDGAR detection: forms S-8/S-1/424B/8-K· recall 69% / precision 12%. detection rule →
Statutes
Section 12(k) of the Securities Exchange Act
Parties
QaziMazs Mart Corp.
Keywords
sandy steelesandysteelesecuritiessteele unlimitedsecurities exchangeexchange commissionsuspension tradingtrading securitiesinccommissiontradingcompanyunlimitedexchange
Extracted insights
Entities 9
- company minnesota corporation
- person offshore accounts
- person otc link
- company sandy steele unlimited inc.
- agency Securities and Exchange Commission
- company securities of sandy steele unlimited inc.
- company suspension of trading in securities of sandy steele unlimited inc.
- company trading in securities
- person unknown sources
Triples 40
- Securities and Exchange Commission suspended trading securities of Sandy Steele Unlimited Inc.
- Sandy Steele Unlimited Inc. is Minnesota corporation
- Sandy Steele Unlimited Inc. lists principal place of business St. Louis Park, Minnesota
- Sandy Steele Unlimited Inc. is quoted on OTC Link
- Sandy Steele Unlimited Inc. has eight market makers
- trading in securities suspended from April 6, 2020, through April 20, 2020
- Vanessa A. Countryman is Secretary
- Securities and Exchange Commission requires suspension of trading in securities of Sandy Steele Unlimited Inc.
- Sandy Steele Unlimited Inc. is Minnesota corporation
- Sandy Steele Unlimited Inc. lists principal place of business in St. Louis Park, Minnesota
- Sandy Steele Unlimited Inc. is quoted on OTC Link under symbol SSTU
- Sandy Steele Unlimited Inc. has eight market makers as of April 1, 2020
- Sandy Steele Unlimited Inc. has limited operations, sales, or inventory
- Sandy Steele Unlimited Inc. is alleged to have promotional activity via e-mail from unknown sources
- Sandy Steele Unlimited Inc. is alleged to have ability to produce protective masks due to COVID-19 crisis
- offshore accounts engaged in substantial concentrated selling of Sandy Steele’s stock
- Commission orders suspension of trading from April 6, 2020, to April 20, 2020
- Sandy Steele Unlimited Inc. is subject to suspension of trading under Section 12(k) of the Securities Exchange Act of 1934
- Sandy Steele Unlimited Inc. is suspended trading in its securities from 9:30 a.m. EDT on April 6, 2020, through 11:59 p.m. EDT on April 20, 2020
- Sandy Steele Unlimited Inc. reports very limited operations, sales, or inventory available to sell
- unknown sources send e-mail stock promotions claiming Sandy Steele produces clothing and protective masks
- offshore accounts sell substantial amounts of Sandy Steele’s stock
- Securities and Exchange Commission orders suspension of trading in Sandy Steele Unlimited Inc.'s securities due to public interest and investor protection
- Securities and Exchange Commission suspended trading in the securities of Sandy Steele Unlimited Inc.
- Sandy Steele Unlimited Inc. is a Minnesota corporation
- Sandy Steele Unlimited Inc. lists principal place of business in St. Louis Park, Minnesota
- Sandy Steele Unlimited Inc. is quoted on OTC Link under the symbol SSTU
- Sandy Steele Unlimited Inc. has eight market makers
- Sandy Steele Unlimited Inc. claims it is an operational garment manufacturer
- Sandy Steele Unlimited Inc. has very limited operations, sales or inventory
- unknown sources directed e-mail stock promotions to investors
- offshore accounts sold Sandy Steele’s stock
- Securities and Exchange Commission suspends trading Sandy Steele Unlimited Inc. securities
- Sandy Steele Unlimited Inc. has limited operations very limited sales or inventory
- Sandy Steele Unlimited Inc. is quoted on OTC Link operated by OTC Markets Group Inc.
- Sandy Steele Unlimited Inc. has stock symbol SSTU
- Sandy Steele Unlimited Inc. is located in St. Louis Park, Minnesota
- Trading in Sandy Steele securities is suspended from April 6, 2020 to April 20, 2020
- Commission ordered suspension pursuant to Section 12(k) of the Securities Exchange Act of 1934
- Vanessa A. Countryman is Secretary of the Commission
Text layers
Extracted body text (2,258c)
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
April 3, 2020
In the Matter of
Sandy Steele Unlimited Inc.
File No. 500-1
ORDER OF SUSPENSION OF
TRADING
It appears to the Securities and Exchange Commission (the “Commission”) that the
public interest and the protection of investors require a suspension in the trading of the securities
of Sandy Steele Unlimited Inc. (“Sandy Steele” or “the Company”) (CUSIP No. 800366106)
because of questions regarding the accuracy and adequacy of information in the marketplace
since at least March, 2020.
Those questions relate to apparent promotional activity, including e-mail stock
promotions from unknown sources directed to investors, which claim that Sandy Steele is an
operational garment manufacturer producing various clothing items and that it has the ability to
produce protective masks that are in high demand due to the COVID-19 crisis. Sandy Steele’s
publicly reported financial statements indicate that the company has very limited operations,
sales or inventory available to sell. There are also questions about recent trading activity in the
securities of Sandy Steele including substantial concentrated selling of Sandy Steele’s stock by
offshore accounts.
Sandy Steele is a Minnesota corporation. In state corporate information documents it
lists its principal place of business as located in St. Louis Park, Minnesota. The Company’s
common stock is quoted on OTC Link (previously Pink Sheets), operated by OTC Markets
2
Group Inc., under the symbol SSTU. As of April 1, 2020, Sandy Steele’s stock had eight market
makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
The Commission is of the opinion that the public interest and the protection of investors
require a suspension of trading in the securities of the above-listed company.
THEREFORE, IT IS ORDERED, pursuant to Section 12(k) of the Securities Exchange
Act of 1934, that trading in the securities of the above-listed company is suspended for the
period from 9:30 a.m. EDT on April 6, 2020, through 11:59 p.m. EDT on April 20, 2020.
By the Commission.
Vanessa A. Countryman
Secretary
OCR text (2,304c · tika · 95% conf)
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
April 3, 2020
In the Matter of
Sandy Steele Unlimited Inc.
File No. 500-1
ORDER OF SUSPENSION OF
TRADING
It appears to the Securities and Exchange Commission (the “Commission”) that the
public interest and the protection of investors require a suspension in the trading of the securities
of Sandy Steele Unlimited Inc. (“Sandy Steele” or “the Company”) (CUSIP No. 800366106)
because of questions regarding the accuracy and adequacy of information in the marketplace
since at least March, 2020.
Those questions relate to apparent promotional activity, including e-mail stock
promotions from unknown sources directed to investors, which claim that Sandy Steele is an
operational garment manufacturer producing various clothing items and that it has the ability to
produce protective masks that are in high demand due to the COVID-19 crisis. Sandy Steele’s
publicly reported financial statements indicate that the company has very limited operations,
sales or inventory available to sell. There are also questions about recent trading activity in the
securities of Sandy Steele including substantial concentrated selling of Sandy Steele’s stock by
offshore accounts.
Sandy Steele is a Minnesota corporation. In state corporate information documents it
lists its principal place of business as located in St. Louis Park, Minnesota. The Company’s
common stock is quoted on OTC Link (previously Pink Sheets), operated by OTC Markets
2
Group Inc., under the symbol SSTU. As of April 1, 2020, Sandy Steele’s stock had eight market
makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
The Commission is of the opinion that the public interest and the protection of investors
require a suspension of trading in the securities of the above-listed company.
THEREFORE, IT IS ORDERED, pursuant to Section 12(k) of the Securities Exchange
Act of 1934, that trading in the securities of the above-listed company is suspended for the
period from 9:30 a.m. EDT on April 6, 2020, through 11:59 p.m. EDT on April 20, 2020.
By the Commission.
Vanessa A. Countryman
Secretary