In the Matter of MIT Holding, Inc.; Order of Suspension of Trading, 39738 [2016-14477]

Download as PDF 39738 Federal Register / Vol. 81, No. 117 / Friday, June 17, 2016 / Notices in expected revenue by eliminating the fees. B. Self-Regulatory Organization’s Statement on Burden on Competition The proposed rule change will not impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The market for listing services is extremely competitive and listed companies may easily list on competing venues if they deem fee levels at a particular exchange to be excessive. In such an environment, the Exchange must continually adjust its fees to remain competitive with other exchanges. This rule proposal does not burden competition with other listing venues, which are similarly free to set their fees, but rather reflects the competition between listing venues and will further enhance such competition. For these reasons, Nasdaq does not believe that the proposed rule change will result in any burden on competition for listings. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. sradovich on DSK3TPTVN1PROD with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act.11 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: • Send an email to rule-comments@ sec.gov. Please include File Number SR– NASDAQ–2016–077 on the subject line. [File No. 500–1] Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NASDAQ–2016–077.This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR– NASDAQ–2016–077 and should be submitted on or before July 8, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–14310 Filed 6–16–16; 8:45 am] BILLING CODE 8011–01–P U.S.C. 78s(b)(3)(A)(ii). VerDate Sep<11>2014 16:48 Jun 16, 2016 June 15, 2016 It appears to the Securities and Exchange Commission (‘‘Commission’’) that there is a lack of current and accurate information concerning the securities of MIT Holding, Inc. (‘‘MITD 1’’) (CIK No. 1367416), a delinquent Delaware corporation located in Los Angeles, California with a class of securities registered with the Commission pursuant to Securities Exchange Act of 1934 (‘‘Exchange Act’’) Section 12(g) because it is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10–Q for the period ended September 30, 2015. Moreover, MITD’s Form 10–K for the period ended December 31, 2014 failed to comply with Exchange Act and regulations thereunder because it did not include audited financial statements. Also, the financial statements accompanying MITD’s Forms 10–Q for the periods ending March 31, June 30, and September 30, 2015 were not reviewed by an auditor as required by Commission rules. On January 19, 2016, the Commission’s Division of Corporation Finance (‘‘Corporation Finance’’) sent a delinquency letter to MITD requesting compliance with its periodic filing requirements which was delivered. As of June 8, 2016, the common stock of MITD was quoted on OTC Link operated by OTC Markets Group Inc. (formerly ‘‘Pink Sheets’’), had eight market makers, and was eligible for the ‘‘piggyback’’ exception of Exchange Act Rule 15c2–11(f)(3). The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the abovelisted company is suspended for the period from 9:30 a.m. EDT on June 15, 2016, through 11:59 p.m. EDT on June 28, 2016. [FR Doc. 2016–14477 Filed 6–15–16; 4:15 pm] BILLING CODE 8011–01–P 12 17 Jkt 238001 In the Matter of MIT Holding, Inc.; Order of Suspension of Trading By the Commission. Jill M. Peterson, Assistant Secretary. Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or 11 15 SECURITIES AND EXCHANGE COMMISSION PO 00000 CFR 200.30–3(a)(12). Frm 00115 Fmt 4703 Sfmt 9990 1 The short form of the issuer’s name is also its stock symbol. E:\FR\FM\17JNN1.SGM 17JNN1

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[Federal Register Volume 81, Number 117 (Friday, June 17, 2016)]
[Notices]
[Page 39738]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-14477]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of MIT Holding, Inc.; Order of Suspension of 
Trading

June 15, 2016
    It appears to the Securities and Exchange Commission 
(``Commission'') that there is a lack of current and accurate 
information concerning the securities of MIT Holding, Inc. (``MITD 
\1\'') (CIK No. 1367416), a delinquent Delaware corporation located in 
Los Angeles, California with a class of securities registered with the 
Commission pursuant to Securities Exchange Act of 1934 (``Exchange 
Act'') Section 12(g) because it is delinquent in its periodic filings 
with the Commission, having not filed any periodic reports since it 
filed a Form 10-Q for the period ended September 30, 2015. Moreover, 
MITD's Form 10-K for the period ended December 31, 2014 failed to 
comply with Exchange Act and regulations thereunder because it did not 
include audited financial statements. Also, the financial statements 
accompanying MITD's Forms 10-Q for the periods ending March 31, June 
30, and September 30, 2015 were not reviewed by an auditor as required 
by Commission rules. On January 19, 2016, the Commission's Division of 
Corporation Finance (``Corporation Finance'') sent a delinquency letter 
to MITD requesting compliance with its periodic filing requirements 
which was delivered. As of June 8, 2016, the common stock of MITD was 
quoted on OTC Link operated by OTC Markets Group Inc. (formerly ``Pink 
Sheets''), had eight market makers, and was eligible for the 
``piggyback'' exception of Exchange Act Rule 15c2-11(f)(3).
---------------------------------------------------------------------------

    \1\ The short form of the issuer's name is also its stock 
symbol.
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    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in the 
securities of the above-listed company. Therefore, it is ordered, 
pursuant to Section 12(k) of the Securities Exchange Act of 1934, that 
trading in the securities of the above-listed company is suspended for 
the period from 9:30 a.m. EDT on June 15, 2016, through 11:59 p.m. EDT 
on June 28, 2016.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2016-14477 Filed 6-15-16; 4:15 pm]
 BILLING CODE 8011-01-P
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