Recycle Tech (RCYT) of Miami Trading Suspended by SEC
Securities trading is suspended in Recycle Tech, a Miami container home manufacturer.
The U.S. Securities and Exchange Commission (SEC) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the Exchange Act), of trading in the securities of Recycle Tech, Inc. (Recycle Tech), a Colorado corporation headquartered in Miami, Florida, at 9:30 a.m. EDT on May 2, 2012, and terminating at 11:59 p.m. EDT on May 15, 2012.
The SEC temporarily suspended trading in the securities of Recycle Tech because of questions that have been raised about the lack of current and accurate information concerning the securities of Recycle Tech because it has not filed a periodic report since its Form 10-Q for the quarterly period ending November 30, 2009, filed on January 13, 2010.
According to the firm’s website, “RCYT manufactures and delivers premium eco-friendly Container Homes, as well as LEED Certified Green Homes, Communities, Buildings, and City Structures across the world. These structures and developments, combined with a very affordable pricing structure, will decrease pollution, reduce waste materials, and increase the overall quality of life for millions of homeless and/or those in a low-income housing bracket. Green Building and Engineering Contractors (RCYT) is the only builder of container homes in South Florida.”
The SEC cautions brokers, 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.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule.
Florida Securities Litigation and FINRA Arbitration
Contact Fort Lauderdale securities litigation attorney Howard N. Kahn, Esq. if you or someone you know has a securities dispute. In addition to being an experienced securities litigation attorney, Mr. Kahn also serves as a FINRA arbitrator for individual investors, brokers, and brokerage firms. You can reach him at 954-321-0176 or online.