10:16:32 EST Wed 01 Feb 2023
Enter Symbol
or Name

Login ID:

ASC halts purported sanitizer producer Softlab9

2020-06-29 17:01 ET - Street Wire

Also Street Wire (C-SOFT) Softlab9 Software Solutions Inc (2)

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

The Alberta Securities Commission has halted Rahim Mohamed's Softlab9 Software Solutions Inc., a supposed producer of hand sanitizer that has gone to $1.39 from 13 cents. The ASC cites "unexplained and unusual fluctuations" in the company's trading, among other things. A 15-day halt is in the public interest, the ASC says.

The halt is contained in a brief order that the ASC issued on Monday, June 29. The sole target of the order is Softlab9, a Canadian Securities Exchange listing that has been touting a disinfectant "fog" that can supposedly defend against viruses and bacteria. Softlab9 claims to be setting up a facility in Calgary that will be able to produce 24,000 bottles of disinfectant per day.

The ASC has provided little explanation for the halt, mostly citing Softlab9's trading. Prior to April 3, 2020, the stock was inactive, trading at 13 cents or lower on almost no volume. The company has steadily increased since then, reaching $1.39 on volume exceeding 100,000 shares on many days.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2023 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.

Comments for this item are closed