Advanced Cannabis Solutions is back…on the stock market, that is.
Trading of the Denver-based company’s stock was halted by the U.S. Securities and Exchange Commission a little over a year ago after officials became concerned about potential illegal share distribution, and it was then automatically delisted from the main over-the-counter markets.
That led Advanced Cannabis Solutions to sue one of its key shareholders over questionable dealings with the stock. The company’s shares spent the past year in limbo trading on the so-called “gray sheets,” which are not overseen by the SEC.
But now, Advanced Cannabis Solutions has been reinstated to public trading on the over-the-counter markets by the SEC. The company again trades under its previous symbol, CANN.
“It’s been a big battle for the management and really fighting very hard for our shareholders,” CEO Robert Frichtel told the Denver Post.
In the interim, the company moved its headquarters, acquired the security firm Iron Protection Group and continued doing business as usual.