BOCA RATON, Fla., April 30, 2019… X
BOCA RATON, Fla., April 30, 2019 (Newswire.com) - Ominto, Inc. (OTC.PK: OMNT), a growth company with global operations in the e-commerce industry, announced today that it has submitted an offer of settlement to the Securities and Exchange Commission proposing to agree to a Commission order revoking the registration of its securities pursuant to Section 12 of the Securities Exchange Act. Upon the entry of such an order, trading in the company’s securities will cease. The company is not able to predict when the order will be entered. Once entered, shares can only be sold in private transactions as there will not be any recognized trading on a public exchange marketplace.
Michael Hansen, Founder and CEO of Ominto stated, “This solution satisfies our intent and priority to become current with our audits as soon as possible. By revoking our registration with the SEC, it provides us the necessary time and resources to become current with our audits much faster and in a cost-effective manner. Once our audits are complete, we intend to apply for listing on Nasdaq.”
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