By Oregon Firm: Caffe Diva Group, Ltd. For Immediate Release: April 26, 2000
Commission Halts Unregistered Activity
By Oregon Firm: Caffe Diva Group, Ltd.
Harrisburg, PA, April 26, 2000 - - The Pennsylvania Securities Commission issued a Summary Order to Cease and Desist (Order) against Caffe Diva Group, Ltd. (Caffe Diva), Caffe Diva President Ronald A. Davis, Patricia L. Metcalf, Secretary of Caffe Diva, and Jay Eric Chanin, an agent of Caffe Diva, to halt the offer and sale of unregistered securities by an unregistered agent in Pennsylvania. Located in Portland, OR, Caffe Diva was purportedly in the business of developing retail specialty drive-through coffee kiosks.
In August, 1999, Chanin sold a nine-month promissory note issued by Caffe Diva in the amount of $20,000 to at least one Pennsylvania resident. In April 2000 Chanin solicited the PA residents to purchase a rollover note issued by Caffe Diva (collectively, the notes and rollover notes are "Notes").
In its Order, the Commission directed the respondents and affiliates to make no further offers or sales of the Notes in Pennsylvania. The Notes issued by Caffe Diva are securities which are not registered with the Commission under Section 201 of the 1972 Act, and no exemptions from registration are available. Chanin represented Caffe Diva for compensation in the offer and sale of its securities but was not registered as an agent in Pennsylvania.
Any further solicitations or sales made by these respondents in Pennsylvania will constitute further violations of the 1972 Act. Any person who is solicited by or has information about these companies and individuals is asked to immediately notify the Pennsylvania Securities Commission by calling 800-600-0007, or, in the Harrisburg area: (717) 787-8062, in Pittsburgh: (412) 565-5083 or in Philadelphia: (215) 560-2088.
Contacts:
Kathleen Mueller, Counsel
Division of Enforcement & Litigation
412/565-5083
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