DOVER, Del., Aug. 18, 2017 (GLOBE NEWSWIRE) -- Strategic Global Investments, Inc., a Delaware Corporation, (Counterparty DEX:STBV) which had been temporarily suspended from trading on the OTC Market until 11:59 pm EDT on August 17, 2017, has so far seen an expiration of that suspension and no additional suspension has been imposed at this time.
Garland E. Harris says, “We submitted our 8-K https://www.sec.gov/Archives/edgar/data/823187/000117184317005145/0001171843-17-005145-index.htm which included current information and a discussion about the future plans for ICO’s. STBV has not participated in any ICO’s at this time.
"I spoke with officials from the SEC at 1 pm EDT yesterday and was impressed (and surprised) by the desire and determination of the regulators to make sure that the markets are safe and transparent for the investing public. Yes, they are just doing their jobs, and very difficult jobs at that, in the midst of perhaps the fastest paradigm shift in SEC history - decentralized blockchain trading and ICO’s.
"A very timely and well written article on this subject can be found at: http://oracledispatch.com/2017/08/17/strategic-global-investments-inc-otcmktsstbv-sec-targeting-public-companies-ties-icos/
"The author of the article writes, 'After the SEC Investor Bulletin regarding ICO’s on July 25, 2017 two publically traded OTC stocks were temporarily suspended and thrust into the spotlight. In their bulletin they made the argument that if tokens are offered for sale and then can be resold on another virtual currency exchange or platform they may in fact be a security and subject to federal security laws. It’s pretty clear from this point forward that the SEC is intent on regulating ICO’s.'
"We are pleased that, so far, the SEC has imposed no further trading suspension and will make sure that we comply with any and all securities laws.”
Mr. Harris states further, “FINRA reached out to the Company regarding the 100 for 1 stock split that went effective today. Unfortunately, we delayed our reply to make sure that we responded in a timely fashion to the SEC. We plan to fully address FINRA information requests by Monday. Every shareholder holding shares as of 08/17/2017 11:59 pm will be positively impacted by the split.
"There is no guarantee that we will ever trade again on the OTC Markets. I am confident that there may be robust trading again, once market makers are properly informed and instructed by FINRA regarding the post split pricing. We have, however, increased staffing to provide instruction and clarity as to trading on the Decentralized Exchange Markets - DEX. Such trading on the Bitcoin blockchain is available 24/7/365 and we believe is the future of all securities markets.”
Mr. Harris finally mentions, “The price of the last trade on the DEX prior to the 100 for 1 split was $0.20, it is up to market makers to determine the post split trading price on the OTC, but on the DEX the new price should start at $0.002. All shareholders will receive the 100 for 1 shares, but those with shares on the DEX have started receiving them as of 08/18/2017. Here is the best link to use to check current prices (valued in XCP) so a little math is required. https://xchain.io/asset/STBV
"Once you have a wallet with your shares in it, the math is done for you, which see a post split example: https://xchain.io/address/1G1dF2bH62xmEUg78HrH3oPzh6XtBphZLm
"The greatest news is that no short selling is allowed on the DEX.”
Shareholders, traders and investors can garner information on acquiring a Counterparty cryptocurrency wallet to trade on the DEX from the following sources:
https://counterparty.io/
https://indiesquare.me/
https://wallet.counterwallet.io/
https://coindaddy.io/