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SEC halts trade in mysterious $35 billion OTC stock

A sign for the Securities and Exchange Commission (SEC) is pictured in the foyer of the Fort Worth Regional Office in Fort Worth, Texas June 28, 2012.

The U.S. Securities and Exchange Commission on Monday temporarily halted trade in Neuromama Ltd (NERO.PK), whose shares have quadrupled to about $56 in over the counter trading this year, citing concerns including "potentially manipulative" transactions.

The company, whose website and filings say it runs a search engine based on neural technology, is in talks to license "heavy ion fusion" and sells a line of computing devices, had a market value of about $35 billion as of the stock's last trade on Aug. 5.

That puts the Baja California, Mexico-based company ahead of Twitter Inc (TWTR.N), American Airlines Group Inc (AAL.O) and Sprint Corp (S.N).

Neuromama was valued at $4.73 billion on Jan. 15, 2014, when it had 630.1 million shares outstanding, according to a regulatory filing.

The company has not filed quarterly results since then.

The SEC on Monday also cited the accuracy and...


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