98-12060. Solucorp Industries, Ltd.; Order of Suspension of Trading

[Federal Register Volume 63, Number 87 (Wednesday, May 6, 1998)]
[Notices]
[Page 25129]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-12060]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


Solucorp Industries, Ltd.; Order of Suspension of Trading

April 30, 1998
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Solucorp Industries Ltd. (``Solucorp'') because of questions regarding 
the accuracy of assertions by Solucorp in documents sent to and 
statements made to market makers of the stock of Solucorp, other broker 
dealers, and to investors concerning, among other things: (1) the 
negotiation, existence and terms of contracts entered into by Solucorp 
during the period July 1, 1995 through the present; (2) revenues 
purportedly accrued under a license agreement with Smart International 
Ltd. and reported in financial statements for the quarter ended 
September 30, 1997 and the six-month period ended December 31, 1997, 
which were included in a registration statement and transition report 
filed with the Commission in December 1997 and April 1998, 
respectively; and (3) revenues projected in press releases on August 
27, 1997, October 24, 1997 and April 16, 1998.
    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. EST, May 1, 1998 
through 11:59 p.m. EST, on May 14, 1998.

    By the Commission.
Jonathan G. Katz,
Secretary.
[FR Doc. 98-12060 Filed 5-1-98; 3:53 pm]
BILLING CODE 8010-01-M