SEC Suspends Trading in ACLH

SEC Suspends Trading in ACT Clean Technologies, Inc.

Last Updated: May 25, 2010 - 9:45am EST
(New York)--The US Securities and Exchange Commission (SEC) has halted trading in ACT Clean Technologies (OTC:ACLH), a producer of environmentally friendly and cost-effective oil waste clean-up technology, until June 8th, 2010 on verification of information released to the public.
According to the SEC statement, there is a lack of current and accurate information concerning the securities of ACT Clean Technologies, Inc. (“ACT”) because of questions regarding the accuracy of assertions by ACT concerning, among other things: (1) British Petroleum’s purported expression of interest in using a so-called oil fluidizer technology purportedly licensed to ACT’s wholly-owned subsidiary, American Petroleum Solutions, Inc., for use in cleanup operations in the Gulf of Mexico, and its purported request that field tests be conducted on the oil fluidizer technology; and (2) the purported results of field tests finding that the oil fluidizers are effective for use in clean up efforts in the Gulf of Mexico.
Repeated attempts to contact the company over the past week through emails and phone calls went without any response or comment. Due to this lack of follow-up, and now developments with the SEC, investors should be highly cautioned about investing into this security until additional information can be provided to the regulators, and public market. Investors are highly encouraged to consult with a financial advisor before making any investment decision with this security.
A copy of the SEC order can be found at - http://www.sec.gov/litigation/suspensions/2010/34-62166.pdf

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