ZiaSun Technologies Inc. "Pick of the Litter" From Skip Nordstrom's Growth Stock Newsletter - March, 1999
Reprinted with permission,
From Skip Nordstrom's Growth Stock Newsletter
nicstock.com
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In the Matter of NATIONAL INVESTORS COUNCIL and SKIP NORDSTROM,
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7600 / October 27, 1998
ADMINISTRATIVE PROCEEDING
File No. 3-9766
______________________________________
In the Matter of
NATIONAL INVESTORS COUNCIL and SKIP NORDSTROM,
Respondents.
______________________________________
ORDER INSTITUTING PUBLIC CEASE-AND-DESIST PROCEEDING, MAKING
FINDINGS AND ISSUING A CEASE-AND-DESIST ORDER
I.
The Securities and Exchange Commission ("Commission")
deems it appropriate that a public cease-and-desist
proceeding pursuant to Section 8A of the Securities Act of
1933 ("Securities Act") be instituted against National
Investors Council ("NIC") and Skip Nordstrom ("Nordstrom").
II.
In anticipation of the institution of this proceeding,
NIC and Nordstrom have each submitted an Offer of
Settlement, each of which the Commission has determined to
accept. Solely for the purpose of this proceeding and any
other proceeding brought by or on behalf of the Commission
or in which the Commission is a party, and without admitting
or denying the findings contained herein, except that NIC
and Nordstrom each admits the jurisdiction of the Commission
over each of them and over the subject matter of this
proceeding, NIC and Nordstrom each consents to the entry of
this Order Instituting Public Cease-and-Desist Proceeding,
Making Findings and Issuing a Cease-and-Desist Order
("Order") set forth below.
Accordingly, IT IS ORDERED that a proceeding pursuant
to Section 8A of the Securities Act be, and hereby is,
instituted.
III.
On the basis of this Order and the Offers of Settlement
submitted by NIC and Nordstrom, the Commission finds that:
A. RESPONDENTS
1. NIC is the fictitious business name for a Newport
Beach, California publishing business owned and
operated by Skip Nordstrom. NIC publishes two
publications on the internet: Skip Nordstrom's
Growthstock Newsletter ("Newsletter") and Portfolio
Picks, both of which are found on NIC's website.
2. Nordstrom is forty-seven (47) years old and resides in
Santa Ana, California. He is the sole employee and
owner of NIC.
B. FACTS
1. Nordstrom operates NIC out of his office located in
Newport Beach, California. Nordstrom writes NIC's
Newsletter and determines which issuers will be listed
in NIC's Portfolio Picks.
2. Portfolio Picks provides an overview of approximately
twelve companies which NIC represents have growth
potential. Persons interested in a particular company
can click on the stock symbol for the company within
Portfolio Picks and receive information regarding
current stock price and volume. A corporate digest
summarizing the company's operations is also available.
The Newsletter profiles small, publicly-held companies
that, in Nordstrom's opinion, have a two to five year
growth potential. The Newsletter is also available to
subscribers via regular mail and has a circulation of
approximately 1,000. Certain companies featured in the
Newsletter have been listed, sometimes concurrently, in
Portfolio Picks.
3. NIC charges a $900 monthly fee for a company to be
listed in Portfolio Picks, for a minimum of three
consecutive months. Under certain circumstances, NIC
has agreed to reduce the monthly fee or accepted
securities as payment. Prior to commencement of the
Commission's investigation, NIC's website contained a
disclaimer that readers should assume that NIC, its
principals, officers, and employees have a vested
interest in the companies presented on NIC's website,
which may have been acquired under terms and conditions
not available to the public.
4. Section 17(b) of the Securities Act prohibits any
person from publishing, giving publicity to, or
circulating any notice, circular, advertisement,
newspaper, article, letter, investment service or
communication which describes a security for a
consideration received or to be received, directly or
indirectly, from an issuer, underwriter or dealer,
without fully disclosing the receipt, whether past or
prospective, of such consideration and the amount
thereof. As a result of the conduct identified in
paragraphs III.B.1. through III.B.3., NIC and Nordstrom
violated Section 17(b) of the Securities Act by
publishing and giving publicity to communications which
described issuers featured in Portfolio Picks in
exchange for consideration, without disclosing the
amount of such consideration.
IV.
Based on the foregoing, the Commission deems it
appropriate to accept the Offers of Settlement submitted by
NIC and Nordstrom.
Accordingly, IT IS HEREBY ORDERED that:
A. Pursuant to Section 8A of the Securities Act, NIC
cease and desist from committing or causing any violation
and any future violation of Section 17(b) of the Securities
Act; and
B. Pursuant to Section 8A of the Securities Act,
Nordstrom cease and desist from committing or causing any
violation and any future violation of Section 17(b) of the
Securities Act.
By the Commission.
Jonathan G. Katz
Secretary |
