SEC revokes registration of CellCyte Genetics
2017-10-12 10:50 ET - Street Wire
Also Street Wire (U-CCYG) CellCyte Genetics Corp
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by Mike Caswell
The U.S. Securities and Exchange Commission has revoked the registration of CellCyte Genetics Corp., a purported biotech listing linked to Vancouver's Brent Pierce that was once worth nearly $450-million. (All figures are in U.S. dollars.) The SEC says that the company is delinquent in its filings. CellCyte has also failed to respond to a letter from the SEC about its status.
The order, handed down on Tuesday, Oct. 10, comes over eight years after the SEC filed civil charges against CellCyte's former chief executive officer, Gary Reys. The regulator said that Mr. Reys repeatedly misled the public about the company's product, a stem cell compound that purportedly had the potential to heal organs. The stock went to $7.50 before it collapsed, causing massive investor losses, the SEC said.
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"CellCyte also failed to disclose that several mice had died during testing."
These guys might have come up with a better way to kill vermin.
It could have been huge!
Posted by Just me at 2017-10-13 09:48
Gotta love the Pierce promo machine! Sounds like people who were not greedy made a nice return. When you buy pre-revenue OTC stocks, always take money off the table so you have low average cost shares.
Posted by Ray at 2017-10-13 18:23