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Breaking News: What The Heck Is Going On With SVEN? (Updated)

December 11, 2012 (Updated): It appears that FINRA may be ready to let SVEN start trading again tomorrow, as the daily list now reflects a change in status again, albeit no much of a change.  Still the notation seems to be enough to confirm the "under review" position that FINRA quoted us and we relayed to you in this morning's posting.

It is worth noting that Awesome Penny Stocks and its affiliate newsletters has removed the "Today's Pick Is: SVEN" banner from their websites and when they resume touting this scam remains to be seen.  At any rate, we expect the current holders of this intrinsically worthless stock to breath a sigh of relief, take the hint (and reprieve), and get out of Dodge as fast as they can. We'd be surprised if this doesn't gap down in the morning.

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December 11, 2012: The emails keep pouring in this morning with the question on everyone's lips: "What is going on with SVEN?".  According to our contact at FINRA, the "T" designation assigned by OTC Markets, a privately owned website, should be disregarded.  FINRA states there has been no "T" or "B" assigned to the end of the symbol.

FINRA does acknowledge that a "contemplated" CUSIP change is in the works for SVEN for reasons they wouldn't disclose because (according to them) SVEN, "is under review".  We could not get FINRA to elaborate on the circumstances of the "review". The current state of confusion has nothing to do with a split, past or pending, nor a company initiated process. FINRA expects to make a statement in the coming hours or days and will then update the status of SVEN.  FINRA recommends accessing OTCBB.com  and tracking the Daily List for updates to SVEN's status.

It is PumpAndDump.com's opinion that this is just the latest in a series of regulatory events scrutinizing the activities of Awesome Penny Stocks, its affiliated newsletters, and it's partners, such as market maker Wilson Davis & Co and the law firm of Carrillo Huettel, LLP.  As we reported two weeks ago, Carrillo Huettel has shut its doors and Managing Partner, Luis Carrillo has reportedly fled the country.  Latest reports have him hiding in Switzerland while he is seeking Mexican citizenship.