The Securities Commission has banned the investment statement of Ira NRG NZ Ltd (INNL), a company which says it has plans to generate electricity and sell it to the national grid.Earlier this month the commission banned the company's website and warned in
The Securities Commission has banned the investment statement of Ira NRG NZ Ltd (INNL), a company which says it has plans to generate electricity and sell it to the national grid.
Earlier this month the commission banned the company's website and warned investors against a public offer of shares by INNL, saying it was illegal as there was no registered prospectus for the offer.
Today the commission banned the company's investment statement and repeated that there was no registered prospectus for the offer.
INNL's sole director is Simon Romana.
Mr Romana has had media coverage in the past in the United States for a machine which converts rubbish to electricity.
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