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Wow, that was fast. SEC has already started litigation for revocation of SGGM. They just halted it today. At least they waited to after halt to do that to CMKX.
SECURITIES AND EXCHANGE COMMISSION Securities Exchange Act of 1934 Release No. 51961 / July 1, 2005 Administrative Proceeding File No. 3-11971 In the Matter of St. George Metals, Inc. ADMINISTRATIVE PROCEEDING INSTITUTED AGAINST ST. GEORGE METALS, INC. FOR FAILING TO MAKE REQUIRED PERIODIC FILINGS The Commission today instituted a public administrative proceeding pursuant to Section 12(j) of the Securities Exchange Act of 1934 against St. George Metals, Inc. (Pink Sheets Symbol: SGGM) to determine whether the registration of its securities should be revoked or suspended for failing to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder, which require the filing of periodic reports with the Commission. The Division of Enforcement alleges in the Order Instituting Administrative Proceeding that St. George Metals had common stock registered pursuant to Section 12(g) of the Exchange Act. The Division of Enforcement further alleges that St. George Metals has failed to file periodic reports since November 2002. A hearing will be scheduled before an administrative law judge to determine whether the allegations of the Division of Enforcement contained in the Order Instituting Administrative Proceeding are true, to provide St. George Metals an opportunity to dispute the allegations, and to determine whether it is necessary and appropriate for the protection of investors to suspend or revoke the registration of St. George Metals’ securities. Pursuant to the Commission's Rules of Practice, an initial decision shall be issued by the administrative law judge within 120 days from service of the Order Instituting Administrative Proceeding upon St. George Metals. If any person has any information that may relate to this matter, please contact the St. George Metals Investor Line of the Pacific Regional Office of the Securities and Exchange Commission at (323) 965-4519 or by email at stgeorgemetals@sec.gov.
Ric
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Here was the halt order:
UNITED STATES OF AMERICA Before The SECURITIES AND EXCHANGE COMMISSION July 1, 2005 ________________________ In the Matter of St. George : Metals, Inc., : : ORDER OF SUSPENSION : OF TRADING : File No. 500-1 : ________________________: It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of St. George Metals, Inc. (Pink Sheets symbol: “SGGM”), a Nevada corporation. Questions have been raised about the adequacy of publicly available information concerning, among other things, St. George Metals’ assets and liabilities, mining and other business activities, stock issuances, and corporate management. Since the fiscal year ending January 31, 2003, St. George Metals has been delinquent in its periodic filing obligations under Section 13(a) of the Securities Exchange Act of 1934. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the above listed company is suspended for the period from 9:30 a.m. EDT, July 1, 2005, through 11:59 p.m. EDT, on July 15, 2005. By the Commission. Jonathan G. Katz Secretary
Dustoff101
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Another Nevada corp in the sights of the SEC....Man, Nevada is runing out of P.O Box's for these things [ company headquarters ]......Hmmmmmmm mail fraud is next for these bozo's....What the heck are we gonna trade when they're all in jail?
I got it!!!!! Private Prison companys!!!!
Got Pinks ???????
grandpa
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So does this mean that i have lost all the money that i had invested in sggm ?
Dustoff101
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grandpa, check the archives on the CMKX thread..
You may find out something that pertains to your situation....
There are some very knowledgable people in there...
Wallace is a power house when it comes to how these companys structure themselves so as to suck investors in....And then fix the deck so you can't get out..
Watch out for a situation where on-line stock brokerage house's let people sell but not buy this stock..If it is allowed to trade again..
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