Norstra Energy, Inc. (OTCBB:NORX) Suspended by the SEC

Yesterday no shares of Norstra Energy, Inc. (OTCBB:NORX) changed hands. The reason for this was the fact that the SEC halted the company’s stock from trading as it decided this was in the best interest of the public.

The suspension order for NORX states plainly that there were questions related to the accuracy and adequacy of the press releases issued by NORX and the stock was halted for the protection of future investors. It seems NORX dubbing its virtual lack of real results as “operational success” in its recent press announcements was a little too much, especially combined with the huge $3.6 million pump effort targeting the stock.

We have been monitoring NORX for over a month now, starting with a piece of video coverage near the time when the big money was poured into pumping the stock through landing pages, after an email tout campaign failed to do very much with the stock price. Last week news came out that there was also a hard paper mailer in circulation, advertising NORX as well. A brief look at the previous articles on NORX can give readers a better idea of the pump avenues used and the claims made by promoters. It seems our efforts were worth it, as we hopefully saved a few investors from a sticky situation.

For those who, despite all the facts, still believe NORX has got a bright future ahead of it, the statistical probability of the company going anywhere but on the grey market once it’s out of suspension is next to none. One example of another suspended company resuming trading that is fresh out of the oven is Polar Petroleum Corp. (OTCMKTS:POLR) – a pump that we also covered and one that shared many similarities with that of NORX, including the landing pages, the seven-digit compensation and the ludicrous promises of billions of barrels of oil. POLR is currently not quoted on Google Finance because it’s in the ‘Gray market’ tier of OTC stocks. The stock crashed from $5.75 – the price it was suspended at, to $0.70, or about 90% in three sessions once suspension was lifted.

The SEC suspension on NORX will be lifted on July 11.

Among the more fortunate companies that were not suspended in yesterday’s session, Xumanii, Inc. (OTCMKTS:XUII) clawed another 1.4% up on heavy dollar volume. There were also significant percentile slips, with pump-turned-disaster African Copper Corp. (OTCBB:ACCS) dropping another 50% to a close of $0.01, or a total of about 75% down from its Friday close and over 90% from its price ten days ago.