CALGARY, Feb. 14, 2013 /CNW/ - The Alberta Securities Commission (ASC) has issued a cease trade order against Calgary-based Poseidon Concepts Corp. The cease trade order was issued on the basis that Poseidon Concepts' first, second and third quarter interim financial reports for the periods ended March 31, 2012, June 30, 2012 and September 30, 2012, were not prepared in accordance with Alberta securities laws.
The cease trade order prohibits all trading or purchasing in Poseidon Concepts Corp. securities until the cease trade order has been revoked or varied.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
SOURCE Alberta Securities Commission