UBIQUITY, INC. (OTCMKTS:UBIQ) Files An 8-K Other Events
Item 8.01 Other Events.
Suspension of Trading and Pending Administrative
Hearing.
As disclosed on March 20, 2017 in the Form 8-K filed by Ubiquity,
Inc., a Nevada corporation (the Company
or Ubiquity) (OTC Link: UBIQ), on March
20, 2017, the Securities and Exchange Commission
(SEC) announced the temporary
suspension of trading in the securities of the Company to Section
12(k) of the Securities Exchange Act of 1934 (Exchange
Act). As stated in its release, the SEC temporarily
suspended trading in the securities of Ubiquity due to a lack of
current and accurate information about the Company.
The Company also disclosed that it was named as a respondent in
an Order Instituting Administrative Proceedings (the
OIP) and Notice of Hearing to Section 12(j) of
the Exchange Act, File No. 3-17884 (the
Hearing). The purpose of the Hearing before an
Administrative Law Judge is to determine whether it is necessary
and appropriate for the protection of investors to suspend for a
period not exceeding twelve months or revoke the registration, of
each class of securities of the Company registered to Section 12
of the Exchange Act. The Hearing was originally scheduled for
April 17, 2017.
On April 7, 2017, the Company, which has been delinquent in its
periodic filings following its report for the quarter ended
September 30, 2015, filed its Answer to the OIP and advised the
SEC and the Administrative Law Judge that it plans to become
current by June 30, 2017. On April 11, 2017, the Administrative
Law Judge vacated the April 17, 2017 hearing date and issued a
scheduling order for the SECs intended motion for summary
disposition, to 17 C.F.R. 201.250(b). The SEC must file its
motion by June 15, 2017. The Companys opposition to the SECs
motion and the SECs reply will be due on July 3, 2017, and July
10, 2017, respectively.
About UBIQUITY, INC. (OTCMKTS:UBIQ)
Ubiquity, Inc. is focused on providing a platform, which enables anyone to connect to Internet-based content on any type of device. The Company’s signature product is the Sprocket. The Sprocket can be downloaded onto any type of device (such as mobile phone, tablet, laptop) and then customized to provide the user with access to all Web-based content, social media outlets, video-based content, private networks, social networks, personalized files, intelligent search, and virtually all other media. The Sprocket also provides detailed analytics and data on the end users, delivering value as a marketing tool to the content providers and advertisers. The Company has various products that function on the Sprocket platform, such as GiftSender (a mobile wallet); Monkeybars (a social mobility distribution platform), and its video search engine. The Company also has video intelligence software, which it proposes to sell to government customers. UBIQUITY, INC. (OTCMKTS:UBIQ) Recent Trading Information
UBIQUITY, INC. (OTCMKTS:UBIQ) closed its last trading session down -0.1100 at 0.0900 with shares trading hands.