Securities Commissioner John Morgan on Sept. 19 entered an Agreed Cease and Desist Order that requires Strata Medical Innovations Inc. of Lubbock to stop offering its stock to the public until certain conditions are met.
The order also names Mark Aldana, the president of Strata, a medical device company.
Aldana and Strata sold shares of stock to investors in and from Texas. Aldana solicited prospective investors and the company advertised its shares on the internet.
Strata must stop selling its shares until the investment is registered with the Securities Commissioner or is qualified to be sold under an exemption from registration under the Texas Securities Act.