From today's SEC Digest:
ADMINISTRATIVE PROCEEDINGS SETTLED TO REVOKE REGISTRATION OF COUNTRYLAND
WELLNESS RESORTS, INC.
On January 3, the Commission settled a public administrative proceeding, pursuant to Section 12(j) of the Securities Exchange Act of 1934 (Exchange Act) to determine whether to revoke the registration with the Commission of the common stock of Countryland Wellness Resorts, Inc. (Countryland).
Countryland, a Delaware corporation, maintains its offices in Las Vegas, Nevada. Countryland's common stock was registered with the Commission pursuant to Section 12(j) of the Exchange Act. Countryland, as found in the order revoking its registration, materially misrepresented its financial position in each of its annual reports and quarterly reports filed with the Commission in 1996 through the present and in a registration statement. (Rel. 34-43788; File No. 3-10314)
sec.gov
Section 12(j) of the Exchange Act reads as follows:
Section 12 -- Registration Requirements for Securities
... j. The Commission is authorized, by order, as it deems necessary or appropriate for the protection of investors to deny, to suspend the effective date of, to suspend for a period not exceeding twelve months, or to revoke the registration of a security, if the Commission finds, on the record after notice and opportunity for hearing, that the issuer of such security has failed to comply with any provision of this title or the rules and regulations thereunder. No member of a national securities exchange, broker, or dealer shall make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, any security the registration of which has been and is suspended or revoked pursuant to the preceding sentence. ...
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