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Friday January 7, 1:57 pm Eastern Time
Company Press Release
SOURCE: Ammonia Hold, Inc.
Ammonia Hold, Inc. Announces Settlement With Securities and Exchange Commission
LONOKE, Ark., Jan. 7 /PRNewswire/ -- Ammonia Hold, Inc. (OTC Bulletin Board: AMHD - news) announced today that the Company and its President and Chief Executive Officer, Michael Parnell have settled the civil case brought against them by the United States Securities and Exchange Commission in the United States District Court for the Middle District of Florida in September of 1999, entitled United States Securities and Exchange Commission v. Corporate Relations Group, Inc. et. al, C.A. No. 99-1222-CV-22-A. In general, the Complaint alleged that Ammonia Hold and Mr. Parnell committed securities law violations by not complying with certain registration requirements and by fraudulently reporting certain stock sales. In settling this matter, neither Ammonia Hold nor Mr. Parnell admitted or denied the allegations contained in the Complaint. On December 28, 1999, United States District Judge Anne Conway entered Final Judgment in the case against Ammonia Hold and Mr. Parnell. The court entered the order based on Consents and Undertakings of Mr. Parnell and Ammonia Hold, which Ammonia Hold and Mr. Parnell entered into with the SEC, and ordered that Ammonia Hold and Mr. Parnell be permanently restrained and enjoined from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934. Mr. Parnell also agreed to pay a civil penalty of $25,000. No civil penalty was imposed with respect to Ammonia Hold.
Ammonia Hold, Inc. manufactures and distributes patented products to reduce odor and ammonia emissions from animal waste, landfills and municipal biosolids.
SOURCE: Ammonia Hold, Inc. |
