The United States Securities and Exchange Commission (SEC) has announced the temporary suspension of trading in the securities of That Marketing Solution, Inc. (TSTS). The suspension starts at 9:30 a.m. EDT on March 15, 2021, and terminates at 11:59 p.m. EDT on March 26, 2021.
The Commission notes that there are questions regarding the accuracy and adequacy of information about the company and its securities in the marketplace and the company’s operating status. The regulator also says that there is unusual and unexplained trading activity affecting the market for the company’s securities.
In particular, TSTS has not publicly provided information about its business or financials for several years. The company’s telephone number and website, listed on its profile page on OTC Markets, are non-working.
Moreover, since at least early February 2021, certain social media accounts may have engaged in an attempt artificially to influence TSTS’s share price. In addition, during the first part of February 2021, TSTS’s share price and volume greatly increased in the absence of any publicly available news from the company.
The SEC cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Last week, the SEC suspended trading in the securities of five firms over similar concerns. Let’s recall that, in February 2021, the regulator suspended trading in the securities of 15 companies due to questionable trading and social media activity. The regulator said back then that it continues to review market and trading data to identify other securities where the public interest and the protection of investors require trading suspensions.