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Microcap & Penny Stocks : ECNC (OTC:BB) - eConnect -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (7882)	3/24/2000 5:22:00 PM
From: StockDung	Respond to of 18222

Title: Betting Inc. (Otcbb: Bett) Announces Investment "This isn't the first time a company run by Mr. Hughes has had difficulties with the SEC. In March 1999, the commission filed an action against Betting Inc., whose president was Mr. Hughes, for failing to file an annual and quarterly report. Betting Inc. consented to "permanent injunctive relief." Betting Inc. later changed its name to eConnect." SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. Litigation Release No. 16088 / March 15, 1999 Securities and Exchange Commission v. Betting, Inc. Civil No. 99-CV-00621 (D.D.C.) (filed March 12, 1999) On March 12, 1999, the Commission filed a complaint in the United States District Court for the District of Columbia against Betting, Inc. ("Betting"), an issuer whose securities are quoted in the pinks sheets and are traded on the OTC Bulletin Board. The complaint alleges that Betting failed to make available to the investing public current and accurate information about its financial condition and results of operation through the filing of periodic reports with the Commission as required by the Securities Exchange Act of 1934 ("Exchange Act"). Specifically, the complaint alleges that Betting has not filed its Annual Reports on Form 10-K for the fiscal years ended August 31, 1997 and 1998, its Quarterly Reports on Form 10-Q for the fiscal quarters ended November 30, 1997 and February 28, May 31 and November 30, 1998 and six Notifications of Late Filing with respect to its delinquent reports. The Commission seeks to compel Betting to file its delinquent periodic reports and enjoin Betting from further violations of Section 13(a) of the Exchange Act of 1934 and Rules 12b-25, 13a-1 and 13a-13 thereunder. Simultaneously with the filing of the Commission's complaint, Betting consented to the entry of a Final Judgment granting the relief sought by the Commission and admitted that it had not filed the periodic reports as described above.