An Administrative Law Judge has issued an Order Making Findings and Revoking Registrations by Default of MidgardXXI Inc. The Order Instituting Proceeding alleged that the company repeatedly failed to file required annual and quarterly reports while its securities were registered with the Securities and Exchange Commission (SEC). The Default Order finds these allegations to be true and revokes the registration of each class of registered securities of the company pursuant to Section 12(j) of the Securities Exchange Act of 1934 (Exchange Act).

In conjunction with trading suspension, Securities and Exchange Commission (SEC) also instituted separate public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of MidgardXXI Inc. for failure to make required periodic filings with the Commission. In the Order, the Division of Enforcement (Division) alleges that the company is delinquent in their required periodic filings with the Commission. In these proceedings, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceedings will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in the proceedings issue an initial decision not later than 120 days from the date of service of the order instituting proceedings.