Qazi v. Mazs Mart Corp.
raw: In re WOD Retail Solutions Inc.
In re WOD Retail Solutions Inc., No. 1:20-cv-11092 (June 18, 2020)
The SEC suspended trading of WOD Retail Solutions Inc. securities from May 21 to June 4, 2020, due to misleading claims regarding revenue and kiosk expansion.
The SEC issued a trading suspension for WOD Retail Solutions Inc. following concerns over inaccurate information regarding the company's revenue and business operations. Misleading promotions claimed the company would see a 300% increase in security value through contactless kiosks, despite the company earning no revenue in 2018 or 2019. The order was issued under Section 12(k) of the Securities Exchange Act of 1934 to protect investors.
The Securities and Exchange Commission (SEC) ordered a suspension of trading in WOD Retail Solutions Inc. securities from May 21, 2020, through June 4, 2020. The action was prompted by questions regarding the accuracy of information on the company's website and third-party promotional messages. These communications falsely claimed that the company would generate additional revenue via automated kiosks during the COVID-19 pandemic. In reality, WOD Retail had earned no revenue during 2018 or 2019. Furthermore, unknown sources sent text and email promotions claiming an imminent 300% increase in the value of WODI securities. The SEC implemented the suspension under Section 12(k) of the Securities Exchange Act of 1934 to protect the public interest and investors.
Extracted insights
- company florida corporation
- person no revenue
- person otc link
- person promotional messages
- agency Securities and Exchange Commission
- company securities of wod retail solutions inc.
- company suspension of trading in securities of wod retail solutions inc.
- person symbol wodi
- person text promotion
- person trading suspension
- person unknown source
- company wod retail solutions inc.
- unknown trading
- Securities and Exchange Commission suspended trading securities of WOD Retail Solutions Inc.
- WOD Retail Solutions Inc. earned no revenue
- WOD Retail Solutions Inc. is a Florida corporation
- WOD Retail Solutions Inc. is located in Parker, Colorado
- WOD Retail Solutions Inc. is quoted on OTC Link
- WOD Retail Solutions Inc. is quoted under symbol WODI
- WOD Retail Solutions Inc. had nine market makers
- unknown source sent promotional messages
- text promotion claimed increase 300%
- trading is suspended from May 21, 2020 through June 4, 2020
- Securities and Exchange Commission ordered suspension of trading in securities of WOD Retail Solutions Inc.
- WOD Retail Solutions Inc. earned no revenue in 2018 or 2019
- WOD Retail Solutions Inc. uses automated kiosks to sell retail items in fitness centers
- third-party promotions claimed imminent increase in value of WOD Retail securities by up to 300%
- WOD Retail Solutions Inc. has common stock quoted on OTC Link under symbol WODI
- Commission determined public interest and protection of investors require suspension of trading
- WOD Retail Solutions Inc. is Florida corporation with principal place of business in Parker, Colorado
- trading suspension applies to securities of WOD Retail Solutions Inc. from May 21, 2020, 9:30 a.m. EDT to June 4, 2020, 11:59 p.m. EDT
- WOD Retail Solutions Inc. earned no revenue in 2018 or 2019
- unknown source claimed WOD Retail would expand its business to take advantage of the need for its contactless kiosks during the COVID-19 pandemic
- third-party promotions claim an imminent increase in the value of WOD Retail securities by as much as 300%
- Securities and Exchange Commission suspended trading in the securities of WOD Retail Solutions Inc. from May 21, 2020, to June 4, 2020
- Securities and Exchange Commission ordered suspension of trading in securities of WOD Retail Solutions Inc.
- WOD Retail Solutions Inc. earned no revenue in 2018 or 2019
- WOD Retail Solutions Inc. uses automated kiosks to sell retail items in fitness centers
- WOD Retail Solutions Inc. generated additional revenue due to COVID-19 pandemic
- unknown source sent text message and email promotional messages to investors since May 4, 2020
- third-party promotions claimed imminent increase in value of WOD Retail securities
- third-party promotions claimed 300% increase in value of WOD Retail securities
- WOD Retail Solutions Inc. has common stock quoted on OTC Link under symbol WODI
- WOD Retail Solutions Inc. has nine market makers as of May 19, 2020
- WOD Retail Solutions Inc. is eligible for piggyback exception of Rule 15c2-11(f)(3)
- Securities and Exchange Commission determined public interest and protection of investors require suspension
- trading suspended from 9:30 a.m. EDT on May 21, 2020, through 11:59 p.m. EDT on June 4, 2020
- Securities and Exchange Commission ordered suspension of trading in WOD Retail securities
- Securities and Exchange Commission requires protection of investors
- WOD Retail earned no revenue in 2018 or 2019
- WOD Retail claimed use of automated kiosks to sell retail items in fitness centers
- Unknown source sent text message and email promotional messages to investors
- Unknown source claimed imminent increase in WOD Retail securities value
- WOD Retail has nine market makers
- WOD Retail is eligible for piggyback exception of Rule 15c2-11(f)(3)
- Securities and Exchange Commission suspended trading in WOD Retail securities from May 21, 2020 to June 4, 2020
- Vanessa A. Countryman acted as Secretary of the Commission
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
May 20, 2020
In the Matter of
WOD Retail Solutions 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 WOD Retail Solutions Inc. (“WOD Retail” or “the Company”) (CIK No. 0000704366)
because of questions regarding the accuracy and adequacy of information in the marketplace
about the Company and its securities.
Those questions relate, in part, to (a) information on the WOD Retail web sites since at
least May 13, 2020, including claims that the Company uses automated kiosks to sell retail items
in fitness centers and would generate additional revenue as a result of the COVID-19 pandemic,
when in fact the Company earned no revenue at all in 2018 or 2019; and (b) text message and
email promotional messages, since at least May 4, 2020, from an unknown source directed to
investors, claiming that WOD Retail would expand its business to take advantage of the need for
its contactless kiosks during the COVID-19 pandemic. The third-party promotions claim an
imminent increase in the value of WOD Retail securities, in the case of one text promotion by as
much as 300%, despite WOD Retail’s apparent lack of business activity and revenue.
WOD Retail is a Florida corporation with its purported principal place of business
located in Parker, Colorado. The Company’s common stock is quoted on OTC Link (previously
2
“Pink Sheets”), operated by OTC Markets Group Inc., under the symbol WODI. As of May 19,
2020, WOD Retail’s common stock had nine market makers, and was eligible for the
“piggyback” exception of Rule 15c2-11(f)(3) under the Securities Exchange Act of 1934.
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 May 21, 2020, through 11:59 p.m. EDT on June 4, 2020.
By the Commission.
Vanessa A. Countryman
Secretary
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
May 20, 2020
In the Matter of
WOD Retail Solutions 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 WOD Retail Solutions Inc. (“WOD Retail” or “the Company”) (CIK No. 0000704366)
because of questions regarding the accuracy and adequacy of information in the marketplace
about the Company and its securities.
Those questions relate, in part, to (a) information on the WOD Retail web sites since at
least May 13, 2020, including claims that the Company uses automated kiosks to sell retail items
in fitness centers and would generate additional revenue as a result of the COVID-19 pandemic,
when in fact the Company earned no revenue at all in 2018 or 2019; and (b) text message and
email promotional messages, since at least May 4, 2020, from an unknown source directed to
investors, claiming that WOD Retail would expand its business to take advantage of the need for
its contactless kiosks during the COVID-19 pandemic. The third-party promotions claim an
imminent increase in the value of WOD Retail securities, in the case of one text promotion by as
much as 300%, despite WOD Retail’s apparent lack of business activity and revenue.
WOD Retail is a Florida corporation with its purported principal place of business
located in Parker, Colorado. The Company’s common stock is quoted on OTC Link (previously
2
“Pink Sheets”), operated by OTC Markets Group Inc., under the symbol WODI. As of May 19,
2020, WOD Retail’s common stock had nine market makers, and was eligible for the
“piggyback” exception of Rule 15c2-11(f)(3) under the Securities Exchange Act of 1934.
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 May 21, 2020, through 11:59 p.m. EDT on June 4, 2020.
By the Commission.
Vanessa A. Countryman
Secretary