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SEC seeks to revoke United Mortgage Trust's securities

Alleging that United Mortgage Trust has not filed periodic reports since Sept. 15, 2015, the U.S. SEC is seeking to revoke the registration of the company's securities.

The company does not intend to contest the allegations and is negotiating with the SEC. After the company's financial statements for the fiscal years ended Dec. 31, 2015, and 2016, are audited by an independent auditor, it plans to file a registration statement on Form 10 to satisfy the SEC's requirements.