The Investor’s Watchdog

The Investor's Watchdog

SEC Institutes Administrative Proceedings against Software Solutions Company US VR for Delinquency in Periodic Filings

Tuesday, September 15, 2020

On September 1, 2020, the Securities Exchange Commission (SEC) released an Order Instituting Administrative Proceedings against US VR Inc. with accusations that the company repeatedly defaulted in its periodic filings with the SEC and failed to heed delinquency letters sent to them by the Division of Corporation Finance.

US VR Inc. (stock symbol “USVR”) is a Delaware corporation located in Kuala Lumpur, Malaysia that develops application software solutions, providing virtual reality, web, mobile and augmented reality platform solutions to real estate, hospitality, education, health care, and other industries globally. The SEC claims US VR Inc. is delinquent in its periodic reporting, having not filed since it filed a Form 10-Q for the period that ended on September 30, 2018. This filing reported a net loss of over $2.7 million for the prior nine months.

As a result of the foregoing, US VR Inc. failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and/or 13a-13. The order requests an investigation into the allegations to determine whether these allegations are true and, if deemed necessary, to instill a sanction on the companies to protect future investors.

If you invested and lost money in USVR due to bad investment advice from your broker, you may be able to recover your losses. Contact us today at 1-877-410-8172 for a free consultation.

Author: Jason T. Albin

Jason Albin is an Attorney and Partner at ChapmanAlbin, the investor rights law firm. He has represented hundreds of investors who have lost money due to broker misconduct, unsuitable investment advice and fraud.​ Jason also represents individuals in “whistleblower” suits filed against unscrupulous companies that try to defraud the US federal and state governments.

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