JAWS;A P/E of 2 with 150%/yr Erngs Growth!! Message Board

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Microcap & Penny Stocks : JAWS;A P/E of 2 with 150%/yr Erngs Growth!!

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To: Arcane Lore who wrote (4151)	6/20/2000 3:46:00 PM
From: Arcane Lore	Read Replies (2) of 4230

From the SEC Digest: ORDER ENTERED TO REVOKE THE REGISTRATION OF GREAT WHITE MARINE & RECREATION, INC.'S COMMON STOCK On June 16, the Commission settled public administrative proceedings against Great White Marine & Recreation, Inc. (Great White). The Commission's Order found that Great White made false and misleading statements in press releases, promotional brochures and postings to its Internet web site regarding its financial condition and business prospects. Specifically, Great White misstated the number of issued and outstanding shares of common stock, including facts relating to an undisclosed public distribution of nearly 14 million shares. Additionally, Great White failed to fully disclose its use of approximately $11 million from the sale of its common stock, including the fact that its principal had misappropriated nearly $3.5 million for his personal purposes. Great White's registration statement filed with the Commission falsely claimed that its financial statements were prepared in accordance with generally accepted accounting principles and audited in accordance with generally accepted auditing standards by qualified independent accountants; that it had raised only $1.2 million from the sale of 1.5 million shares when it had actually raised at least $11 million from the sale of 14 million shares; and that its president had received compensation of $150,000, when he had actually received over $3.5 million. Finally, Great White's registration statement failed to adequately disclose that Great White was essentially a start-up company and that its president had filed for bankruptcy protection just prior to Great White's merger with a public shell. Without admitting or denying the Commission's findings, Great White has agreed to the entry of an Order revoking the registration of its common stock. (Rel. 34-42953; File No. 3-9942) sec.gov

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