Endonovo Therapeutics Inc. has engaged a company to monitor trading of its shares, the company announced Thursday.
Woodland Hills-based Endonovo is a biotech that develops non-implantable bioelectrical devices to treat central nervous system disorders. The company said it is working with Shareholder Intelligence Services to protect shareholders and maximize shareholder value by monitoring broker-dealer, clearing firm and shareholder position movement.
“We have noticed certain irregularities involving both market makers and clearing firms,” Endonovo Chief Executive Alan Collier said in a statement. “Utilizing ShareIntel’s patented processes and proprietary analytics will enable the company to investigate these matters in addition to tracking equity flows and identify any suspicious, aberrant and or unusual trading activity.”
David Wenger, chief executive of ShareIntel, said his company will help Endonovo identify parties to suspicious trade settlement imbalances.
Shares of Endonovo closed Thursday at nearly 6 cents on the over-the-counter market.