Yes Eric I saw where SSSI was doing a deal with Renaissance...did you see these?
Trading Suspension:
Sedona Software Solutions, Inc.
U.S. Securities and Exchange Commission
Securities Exchange Act of 1934
Release No. 47283
January 29, 2003
The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 ("Exchange Act"), of trading of the securities of Sedona Software Solutions, Inc. (stock symbol SSSI) of Vancouver, Canada, at 3:00 p.m. EST on January 29, 2003 and terminating at 11:59 p.m. EST on February 11, 2003.
The Commission temporarily suspended trading in the securities of Sedona Software Solutions, Inc. because of questions concerning the accuracy and completeness of information about Sedona on Internet websites, in press releases, and in other sources publicly available to investors concerning, among other things, Sedona's planned merger with Renaissance Mining Corp. ("Renaissance"), a privately-held company; the assets and business operations of Renaissance; and trading in Sedona common stock in connection with the announced merger.
The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not it has complied with the rule, it should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, it should refrain from entering quotations relating to Sedona Software Solutions, Inc. securities until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation that is in violation of the rule, the Commission will consider the need for prompt enforcement action.
Any broker-dealer or other person with information relating to this matter is invited to call Ivonia Slade, Senior Counsel, in the Washington, D.C. office of the Securities and Exchange Commission, at (202) 942-4757.
sec.gov
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UPDATE - SEC suspends trading in Sedona Software stock
Wednesday January 29, 4:28 pm ET
WASHINGTON, Jan 29 (Reuters) - U.S. regulators on Wednesday suspended the trading of Sedona Software Solutions Inc. (OTC BB:SSSI.OB - News) stock through Feb. 11 due to concerns about the accuracy and completeness of information made public by the Vancouver, Canada-based company.
The Securities and Exchange Commission said it had concerns with the accuracy and completeness of information about Sedona on Internet Web sites, in press releases and in other information, including its planned merger with Renaissance Mining Corp., a privately-held company.
"I don't know why Sedona has been halted," Sedona Chairman Anthony Wile said, who added the company was waiting from the SEC as to why the company's stock was halted.
In a Jan. 21 press release, Sedona Software, which the SEC said was a shell company, announced it signed a letter of intent to acquire all of the issued and outstanding common shares of Renaissance Mining, which had no assets or liabilities.
It added that Bermuda-based LOM Capital Ltd agreed to assist Renaissance by serving as its investment banker with a private equity financing of $6 million at a price of $3 per share.
Renaissance Mining had 4.3 million shares outstanding, and under the terms of the letter of intent, it planned to issue another 8 million shares, according to the press release.
Wile said in the statement that Renaissance signed a letter of intent to acquire gold producing properties in Central America, which would help Sedona Software to become "one of the premier intermediate gold producers in the world."
Sedona shares were down 18.52 percent, or $1.50, to $6.60 in afternoon trade on the Bulletin Board.
"The commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities" of Sedona Software, the SEC said in a statement. |
