The United States Securities and Exchange Commission (SEC) is looking into revoking the registration of securities of ParagonCoin Limited for the protection of investors.
ParagonCoin is a stricken Gibraltar corporation with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). ParagonCoin is delinquent in its periodic filings with the SEC, having not filed any periodic reports since it filed a Form 10-12G on March 29, 2019, which reported a net loss of $10,159,787 for the twelve months ended December 31, 2018.
ParagonCoin never filed any periodic reports. As of February 1, 2022, the PRG digital tokens of ParagonCoin were not publicly traded or quoted.
ParagonCoin is delinquent in its periodic filings with the Commission, has repeatedly failed to meet its obligation to file timely periodic reports, and failed to heed a delinquency letter sent to it by the Division of Corporation Finance requesting compliance with its periodic filing obligations or, through its failure to maintain a valid address on file with the Commission as required by Commission rules, did not receive such letter.
Exchange Act Section 13(a) and the rules promulgated thereunder require issuers of securities registered pursuant to Exchange Act Section 12 to file with the Commission current and accurate information in periodic reports, even if the registration is voluntary under Section 12(g). Specifically, Rule 13a-1 requires issuers to file annual reports.
ParagonCoin has failed to comply with Exchange Act Section 13(a) and Rule 13a-1 thereunder.