SEC opens Section 12(j) cases against seven companies

Seven companies are now facing SEC administrative proceedings for delinquent periodic filings under Section 12(j) of the Securities Exchange Act of 1934, with the agency opening all of them on September 21. The primary SEC order names Reelcause, Inc. and lays out the statutory basis for the action.

Of the seven respondents, three names appear in the available orders: Reelcause, Santa Fe Gold Corp., and Zerify, Inc. That’s 42.9% of the pool. The other four aren’t identified in the supplied materials.

Section 13(a) of the Exchange Act, along with its accompanying rules, requires Section 12 registrants to keep periodic reports current.

It filed an initial registration statement on January 18, 2024, followed by an amended version on February 29, 2024, and then filed nothing else — not one periodic report. Unsolicited quotations for its common stock, ticker RCIT, are submitted on OTC Link ATS.

Santa Fe Gold is a Delaware corporation based in Albuquerque, New Mexico. Its last periodic filing was a Form 10-Q covering the period ending March 31, 2023, per the separate SEC proceeding. Its common stock isn’t publicly quoted or traded at all, which puts it in a different category from Reelcause and Zerify on the OTC quotation question.

Zerify is a Wyoming corporation located in Edison, New Jersey. It stopped filing after its Form 10-Q for the period ending September 30, 2023. Unsolicited quotations for its common stock, symbol ZRFY, are submitted on OTC Link ATS, according to the SEC order.

Rule 13a-1 requires annual reports. Rule 13a-13 requires domestic issuers to file quarterly. For Reelcause and Zerify, those filings simply don’t exist in the record the proceedings cite — at all, or since late 2023. Santa Fe Gold’s last identified quarterly is now more than three years old. Securities registrations are on the line for all seven companies, and nothing in the supplied documents specifies an outcome or a resolution date for any of them.