Deregulate!

[stpioc]

Yes, we don't need all that regulation..

The US Securities and Exchange Commission said on Monday that it has halted the trading of a firm called Neuromama. The company has a market cap of around $35 billion with shares valued at $56.25 a share before the halt. As Bloomberg News noted, the market cap of the company would make it more valuable on paper than Tesla and Delta Air Lines. The only issue, according to the SEC, is, well, pretty much everything about the company.

From the SEC announcement: "The Commission temporarily suspended trading in the securities of NERO because of concerns regarding the accuracy and adequacy of information in the marketplace about, among other things, the identity of the persons in control of the company's operations and management, false statements to company shareholders and/or potential investors that the company has an application pending for listing on the NASDAQ Stock Market, and potentially manipulative transactions in the company's stock."

So quick recap: The people running the firm may be impostors, the company is lying about possibly being listed on the Nasdaq, and the stock may have been manipulated. Dive into the company's businesses, and things look even weirder. Neuromama invested in everything from TV networks to "a clone of Amazon" to atomic fusion. Here's a brief rundown of what the firm claims to own:

The company lists offices in seven locations from Las Vegas to Sydney, Australia. The company has not filed any financial information with the SEC since its quarterly results in January 2014 for the quarter ending in October 2013. In that statement, Neuromama listed $1,081 in cash on hand and $18.26 million in "intangible assets" as it's only assets. It listed no revenue and a loss in the previous nine months of $500,811. Since then, the firm has received numerous alerts from the SEC and notices of its inability to file financial documents.

Neuromama, a clone of Amazon, and atomic-fusion stock are halted - Business Insider