North Dakota Issued Stop Order for Investment Firm

The state insurance commissioner moved to halt unlicensed investment solicitations by WoundScribe AI Corp.

Updated on Sept. 28, 2026 in Healthcare

Bold flat-color editorial illustration depicting a stylized, geometric capitol dome against a flat background, representing institutional state regulatory authority. — The North Dakota Insurance Commissioner issued a stop order against WoundScribe AI Corp. and affiliated entities for allegedly soliciting unlicensed investments. AI Illustration. Upload story photo >

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The North Dakota Insurance Commissioner issued a stop order against Shayan Mashatian, Silverberry Group, and WoundScribe AI Corp. Officials allege the entities solicited investments within the state without proper registration.

Why it matters

The order was issued by the North Dakota Insurance & Securities Department to ensure investor protection and mandate regulatory compliance. State officials are working to enforce legal standards for business entities operating within North Dakota.

The firm now has a 15-day window to request a formal hearing before the insurance commissioner. This order impacts the operations of Silverberry Group, which was founded in 2022 before transitioning into a Delaware corporation in 2025.

The players

Shayan Mashatian

He is the individual named in the stop order issued by the North Dakota Insurance Commissioner.

North Dakota Insurance & Securities Department

This is the state agency responsible for overseeing market integrity and protecting investors within North Dakota.

Silverberry Group, LLC

This entity was initially registered in Grand Forks in 2022 and is subject to the recent regulatory action.

WoundScribe AI Corp.

This Delaware corporation is the successor to Silverberry Group and is named in the state stop order.

The details

Regulators claim the entities violated the North Dakota Century Code by failing to register their offerings properly. The companies identified in the investigation include Silverberry Group, originally based in Grand Forks, and its successor entity, WoundScribe AI Corp.

Silverberry Group was registered in Grand Forks in 2022.
The entity converted to WoundScribe AI in 2025.
The North Dakota Insurance Commissioner announced the stop order on September 25, 2026.

Market Landscape

This enforcement action aligns with state efforts to oversee private entities operating under the North Dakota Century Code. The move underscores the competitive landscape and regulatory scrutiny applied to healthcare-focused AI firms seeking capital in the region.

Investors who have been solicited by these entities should be aware of the state's intervention regarding registration status. The stop order serves as a reminder to verify the licensing of any firm offering investment opportunities in North Dakota.

The takeaway

Potential investors are urged to perform due diligence by checking the registration status of any company through state portals. Compliance with financial laws is mandatory for all businesses operating within the jurisdiction of North Dakota.