Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : NVID International -- Ignore unavailable to you. Want to Upgrade?

To: Madeleine Harrison who wrote (2559)	4/16/1998 11:56:00 AM
From: Ga Bard	Read Replies (1) \| Respond to of 3244

do be do be dooooo News (PR NEWSWIRE) DJ: NVID International Inc. and SEC Staff Agree on Proposed DJ: NVID International Inc. and SEC Staff Agree on Proposed Terms to Settle Litigation CLEARWATER, Fla.--(BUSINESS WIRE)--April 16, 1998--NVID International Inc. (OTC BB:NVID) announced Thursday that an agreement in principal has been reached with the staff of the Securities and Exchange Commission concerning the civil action pending against the company in the United States District Court for the Middle District of Florida. Staff counsel for the Commission's Midwest Regional Office will recommend that the Commission approve the settlement. The review and approval process by the Commission may take up to two months, in which, the Commission may accept, reject or seek modification of the agreement. Until the Commission approves the settlement, the exact terms of the agreement cannot be divulged. In a motion filed in the United States District Court for the Middle District of Florida, the Commission staff counsel stated they believed the settlement would be approved, "because it is unusual for the Commission to reject a recommended settlement offer. The staff is confident that, given sufficient time, a settlement will be accepted." The company's offer to settle this matter was made without admitting or denying the allegations made by the Commission. If the offer is accepted, NVID will consent to disgorgement of certain assets and a permanent injunction that orders the company to comply with federal securities laws in the future. Additionally, the Commission will waive further disgorgement and penalties in light of the company's limited financial resources. David Larson, president of NVID International Inc. stated, "This settlement will allow NVID and Aqua Bio Technologies to focus on its products and future instead of just day to day survival." The proposed settlement, as agreed on between the company and the Commission staff, will allow the company to continue its lawful business activities and function as a public company. NVID International and Aqua Bio Technologies Inc. can be reached by e-mail at aquasave@aquabiotech.com CONTACT: Corporate Office: 28870 U.S. 19 N. Suite 300 Clearwater, Fla. 33761 Phone: 813/669-5005 Fax: 813/669-4701 or Sales Office: 3955 Shell Road Sarasota, Fla. 34242 Phone: 941/312-9100 Fax: 941/312-9300 * end of story *