SEC suspends trading in penny stocks of a Colorado Corp., and 8 others

The U.S. Securities and Exchange Commission on Thursday suspended trading in the penny stock of All Grade Mining, a Colorado corporation based in New Jersey but with a principal mailing address in Denver.

Trading in the stock of eight other companies also was halted.

The SEC said questions had arisen about the adequacy and accuracy of press releases about All Grade Mining’s revenues.

All Grade Mining is quoted on OTC Link operated by OTC Markets Group, Inc., under the ticker symbol HYII. All Grade Mining describes itself as a development-stage company focused on iron ore mining in Chile.

According to Colorado Secretary of State’ filings, the company

formed in 1987 and is listed as in good standing.

The SEC said the trading suspensions are part of an ongoing enforcement initiative to combat microcap fraud. The federal regulators last year created a Microcap Fraud Task Force to target abusive trading and fraudulent conduct in securities issued by microcap companies.

Under federal securities laws, the SEC can suspend trading in a stock for 10 days and generally prohibit a broker-dealer from soliciting investors to buy or sell the stock again until certain reporting requirements are met.

The other suspended stocks are: Bluforest, Inc., a Nevada corporation based in Ecuador; DHS Holding Co., a Nevada corporation based in Tennessee; Essential Innovations Technology Corp., a Nevada Corp. based in Washington state; Global Green Inc., a Florida corporation based in Florida; Inova Technology Inc., a Nevada corporation based in Nevada; mLightTech Inc., a Florida corporation based in California; Solar Thin Films, a New York corporation based in New York; and Xumanii, Nevada corporation based in Nevada.

Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz