UPDATE ON GAYLE ESSARY'S ONE TIME BIFS STOCK PROMOTION
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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 52143 / July 28, 2005
ADMINISTRATIVE PROCEEDING
File No. 3-11913
In the Matter of
Affinity International Travel Systems, Inc., BIFS Technologies Corp.,
Brandmakers, Inc.,
Consolidated General Corp.,
E-Rex, Inc., and
IEMI,
Respondents.
ORDER MAKING FINDINGS AND REVOKING REGISTRATION OF SECURITIES PURSUANT TO SECTION 12(j) OF THE SECURITIES EXCHANGE ACT OF 1934 AS TO BIFS TECHNOLOGIES CORP.
I.
The Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors to accept the Offer of Settlement submitted by BIFS Technologies Corp. (“BIFS” or “Respondent”) pursuant to Rule 240(a) of the Rules of Practice of the Commission, 17 C.F.R. § 201.240(a), for the purpose of settlement of these proceedings instituted against Respondent on April 27, 2005, pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange Act”).
II.
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, Respondent consents to the entry of this Order Making Findings, and Revoking Registration of Securities Pursuant to Section 12(j) of the Securities Exchange Act of 1934 as to BIFS Technologies Corp. (“Order”), as set forth below.
2 III.
On the basis of this Order and Respondent’s Offer, the Commission finds that1:
1. BIFS (CIK No. 1060967) is a Florida corporation located in Sarasota, Florida. At all times relevant to this proceeding, the common stock of BIFS has been registered with the Commission under Exchange Act Section 12(g). As of February 7, 2005, the common stock of BIFS was quoted on the Pink Sheets.
2. BIFS has failed to comply with Exchange Act Section 13(a), and Rules 13a-1 and 13a-13 thereunder, because it has not filed any periodic reports with the Commission since it filed its Form 10-QSB for the period ending September 30, 2002.
IV.
Section 12(j) of the Exchange Act provides as follows:
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.
In view of the foregoing, the Commission deems it necessary and appropriate for the protection of investors to impose the sanction specified in Respondent’s Offer.
Accordingly, it is hereby ORDERED that:
Pursuant to Section 12(j) of the Exchange Act, registration of each class of Respondent’s securities registered pursuant to Section 12 of the Exchange Act be, and hereby is, revoked.
1The findings herein are made pursuant to Respondent’s Offer of Settlement and are not binding on any other person or entity in this or any other proceeding.
3 For the Commission, by its Secretary, pursuant to delegated authority.
Jonathan G. Katz
Secretary
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