Heli Electronics Corp. (fka HELI)

[rekcusdo]

I already reported this stock as a "worthless commodity" on my last tax return so that I could write it off.

[Pro-Life]

Shares in HELI are now badly burned toast... never to be recovered.

http://otcbb.com/asp/dailylist_detail.asp?d=03/02/2012&mkt_ctg=ALL

10:27 HELI Heli Electronics Corp Common Stock 3/2/2012 100 12(j) Registration Revoked by SEC

[Renee]

HELI revoked:

http://www.sec.gov/litigation/admin/2012/34-66505.pdf


SECURITIES EXCHANGE ACT OF 1934
Release No. 66505/March 2, 2012
ADMINISTRATIVE PROCEEDING
File No. 3-14736
_________________________________________
In the Matter of : ORDER MAKING FINDINGS AND
: REVOKING REGISTRATION
HELI ELECTRONICS CORP. : BY DEFAULT
_________________________________________
SUMMARY
This Order revokes the registration of the registered securities of Heli Electronics Corp. (HELI). The revocation is based on HELI’s repeated failure to file required periodic reports with the Securities and Exchange Commission (Commission).

I. BACKGROUND
The Commission initiated this proceeding on February 2, 2012, with an Order Instituting Proceedings (OIP), pursuant to Section 12(j) of the Securities Exchange Act of 1934 (Exchange Act). The OIP alleges that HELI is a corporation with a class of securities registered with the Commission pursuant to Section 12(g) of the Exchange Act and that it has repeatedly failed to file with the Commission annual and quarterly reports in compliance with the Exchange Act. HELI, a Nevada corporation, was served with the OIP on February 6, 2012, in accordance with 17 C.F.R. § 201.141(a)(2)(ii) and Nev. Rev. Stat. § 78.090. To date, HELI has failed to file an Answer to the OIP, due ten days after service. See OIP at 2; 17 C.F.R. § 201.220(b). Thus, HELI has failed to answer or otherwise to defend the proceeding within the meaning of 17 C.F.R. § 201.155(a)(2). Accordingly, HELI is in default, and the undersigned finds that the allegations in the OIP are true. See OIP at 2; 17 C.F.R. §§ 201.155(a), .220(f). Official notice has been taken of the Commission’s public official records concerning HELI, pursuant to 17 C.F.R. § 201.323.


II. FINDINGS OF FACT

HELI is a Nevada corporation located in Guangzhou, China, with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). HELI is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-Q on November 8, 2010, for the period ended September 30, 2010. As of November 17, 2011, HELI is traded on the over-the-counter markets, but has no market makers and is not eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).

1 The CIK number is a unique identifier for each corporation in the Commission’s EDGAR database. The user can retrieve filings of a corporation by using its CIK number.

III. CONCLUSIONS OF LAW
By failing to file required annual and quarterly reports, HELI violated Exchange Act Section 13(a) and Rules 13a-1 and 13a-13.

IV. SANCTION

Revocation of the registration of the registered securities of HELI will serve the public interest and the protection of investors, pursuant to Section 12(j) of the Exchange Act. Revocation will help ensure that the corporate shell is not later put to an illicit use involving publicly traded securities manipulated to the detriment of market participants. Further, revocation accords with Commission sanction considerations set forth in Gateway Int’l Holdings, Inc., Exchange Act
Release No. 53907 (May 31, 2006), 88 SEC Docket 430, 438-39 (citing Steadman v. SEC, 603 F.2d 1126, 1139-40 (5th Cir. 1979)), and with the sanctions imposed in similar cases in which
corporations violated Exchange Act Section 13(a) by failing to file required annual and quarterly reports. See Cobalis Corp., Exchange Act Release No. 64813 (July 6, 2011), 101 SEC Docket
43379; Nature’s Sunshine Products, Inc., Exchange Act Release No. 59268 (Jan. 21, 2009), 95 SEC Docket 13488; Impax Lab., Inc., Exchange Act Release No. 57864 (May 23, 2008), 93 SEC
Docket 6241; America’s Sports Voice, Inc., Exchange Act Release No. 55511 (Mar. 22, 2007), 90 SEC Docket 879, recon. denied, Exchange Act Release No. 55867 (June 6, 2007), 90 SEC Docket
2419; Eagletech Commc’ns, Inc., Exchange Act Release No. 54095 (July 5, 2006), 88 SEC Docket 1225. HELI’s violations were recurrent, egregious, and deprived the investing public of current
and accurate financial information on which to make informed decisions.

Failure to file periodic reports violates a crucial provision of the Exchange Act. The purpose of the periodic reporting requirements is to publicly disclose current, accurate financial
information about an issuer so that investors may make informed decisions:

The reporting requirements of the Securities Exchange Act of 1934 is the primary tool which Congress has fashioned for the protection of investors from negligent, careless, and deliberate misrepresentations in the sale of stock and securities.
Congress has extended the reporting requirements even to companies which are “relatively unknown and insubstantial.”

SEC v. Beisinger Indus. Corp., 552 F.2d 15, 18 (1st Cir. 1977) (quoting legislative history); accord e-Smart Techs., Inc., Exchange Act Release No. 50514 (Oct. 12, 2004), 57 S.E.C. 964, 968-69.

The Commission has warned that “many publicly traded companies that fail to file on a timely basis are ‘shell companies’ and, as such, attractive vehicles for fraudulent stock manipulationschemes.” e-Smart Techs., Inc., 57 S.E.C. at 968-69 n.14.

V. ORDER

IT IS ORDERED that, pursuant to Section 12(j) of the Securities Exchange Act of 1934, 15 U.S.C. § 78l(j), the REGISTRATION of the registered securities of Heli Electronics Corp. is
REVOKED.
______________________________
Carol Fox Foelak
Administrative Law Judge

[rekcusdo]

Yup...I wrote off this stock on my taxes this year. Didn't even have to pay to sell it. Just said it was a worthless stock.

[downsideup]

Saw HELI hit the SEC's list of stocks, put out on Feb 2nd, with two dozen or so Chinese RM stocks that will be de-listed for not filing timely reports.

[carpenter777]

And that will be a good thing. The absolute quiet from HELI is deafening!

[mo 1]

HELI, seemed promising before the RS but I guess the lies caught up with them.

[TheProfit]

For all u still here: http://www.bloomberg.com/news/2011-07-05/china-said-to-discuss-allowing-sec-probes-of-mainland-firms-for-first-time.html

[carpenter777]

When are they going to resolve the accounting issues??

[Lowjack]

He Lie Lectronics corp. HE LI Could be any more obviouse?

[carpenter777]

litar, Show us where insiders have been selling!

[helpx]

litar Share Friday, November 12, 2010 9:59:46 AM
Re: None Post # of 1957

huge volume but to much dumping by insiders

[helpx]

litar Share Tuesday, November 16, 2010 6:13:01 PM
Re: maybe_this_time post# 1707 Post # of 1956

co.from china, in .ob or .pk not always clean

told you!

[maybe_this_time]

Wow, HELI just disappeared? That happened to me with a China Evergy Savings, which turned into a shady Hong Kong stock that halted when the CEO started dumping and didn't file. Beware investing in Chinese small cap stocks. Here today, gone tomorrow...

[armour1955]

How do you trade this when trading was "halted"?

[DigiTech]

I bought 1000 shares on Friday at 11c a share. I posted about it.

This is my first 10 bagger in one day of trading.

Oh ! I still need to sell it before I can claim that

[rekcusdo]

When was this purchasable? If you'd bought it at half a cent, that would be a quick 1000 dollars to 220000 dollar conversion rate in a matter of 48 hours!

[armour1955]

Well Standintall is this you pushing this up after your comment that there would not be any hint or chance of a run...someone is making a KILLING in the grey market...liars poker...if you don't know who the chump is...its you...

[DigiTech]

I did not get around to call last night. I will try tonight. Sorry about that.

My 11c buy Friday does not look bad rigfht now. A 4.5 bagger in one trading day.

[DigiTech]

I sure will.

I also sent an email Friday (Saturday China time)via the site and it worked.

By the way I put a small 1000 shares buy at 11c and got filled.

It will be either the besr buy I ever made or I wasted $110.

Not a bad risk reward LOL

[soldier543]

If you call them,please let us know if you speak to someone.

[armour1955]

Well the lies are out there....someone is trading...the SEC either did not halt or some one is getting around the impotent SEC...which will be even more impotent after theses rounds of budget cuts...

[AAEM]

How do they buy and sell? I think someone made 2000% of his money.

[rekcusdo]

Lol...they halted it so that someone could make a quick 100% on their money.

[armour1955]

So no one knows what the heck is going on...!

I thouhgt the SEC halted trading...

[armour1955]

ok

[DigiTech]

That's the understatement of the year LOL

Thanks for trying.

I will try to call them tonight

[carpenter777]

Sent an email two weeks ago. No response. Sent one 5 minutes ago. Don't expect a response. The company has always seem short on investor relation skills.

[carpenter777]

Yup, someone (MM) traded 400 shares @ .005 two days ago.
Yesterday there were two 100 share trades after the close @ .20

Looks to me like trading signals from the market makers...but unsure what they know, or think they know?

[carpenter777]

Web site still works for me. Email works just fine too. It is slow loading.

[armour1955]

Website still up but no functions working...i tried to send e-mail...its dead.

[armour1955]

Soooo...HELI is TOAST eh? To bad...much like SPNG...good while it lasted and then right off the cliff...

[standintall]

They don't suspend stocks they have doubts about the guilt of. HELI is on the grey market which is the equivalent of the fat lady singing. There won't be a skyrocket. It's not even worth a small bet. Not even a teeny tiny itsy bitsy one.

[armour1955]

Didn't anyone pay attention to the Chinese shell company game that was being played and investigated. The SEC suspended trading and an investigation is ensuing...i told everyone before i left that the investigation would not center only on the auditors. If you r auditor is being investigated for what it did for you, you are IN TROUBLE too... Saving grace is that there may be a dead cat BOUNCE...company seems solid except for this incidence and the investigation...it could only come out one of two ways...bankrupt or sky rocket...sky rocket is worth a small bet...

[DigiTech]

Anybody contacted the company?

Thanks

[stevebondy]

The only news I see was a filing yesterday that one of the directors resigned for personal reasons. Could be someone simply panicked and sold their shares far whatever they could get. Mine also shows .005 but on volume of only 400 shares, which is nothing really.

[John Bates]

Right now, my account says it's worth .005

[fawaz]

Each stock of heli earns 2$,, sow the fair value for heli stock is at least 10 time the earning per share . . Wich is at least 20;$

[AAEM]

I agree but no auditor to file he financial.

[moos-los]

If the financials were as reported, the pps had to be at $16

Even if they are false by 50 % - make your math

[stevebondy]

I'm so glad I finally found this board. I've been wondering what happened to Heli and couldn't find out anything. Thanks for keeping this board alive everyone.

[carpenter777]

Just saw this filing from April 1st:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7518646

So I guess we are going to play a waiting game...just really sucks.

Called my broker, while we are on the gray sheets (I guess) the current bid/ask is:

zero x $3.35 a share...so I think we can buy shares at $3.35...but can sell them for nothing...another words...there is no market right now.

[Renee]

HELI : From OTCBB to OTC Grey Sheets :

http://www.otcbb.com/asp/dailylist_detail.asp?d=03/25/2011&mkt_ctg=OTCBB

http://www.otcbb.com/asp/dailylist_detail.asp?d=03/25/2011&mkt_ctg=NON-OTCBB

http://www.otcmarkets.com/stock/HELI/quote

[lkjfdgldfkjg]

me neither... did someone get a response ?

[moos-los]

I did not get any information from ir


Heli Electronics
No.50, South Fengxiang Road
Jianggao Town, Baiyun District
Guangzhou, Guangdong Province
People’s Republic of China

Telephone: [phone]
Office: [phone]
Fax: [phone]
Contact person: Mickey Jiang
Email: [e-mail]

[carpenter777]

So what the h*ll is HELI doing? Anybody got a phone number to call?

[Skyys]

well guess this might add to the explanation of the SEC smackdown

[standintall]

Buh Bye $ - http://sec.gov/litigation/suspensions/2011/34-64101.pdf

Video of HELI shareholders saying Buh Bye to their money

[Renee]

HELI : SEC Suspension : link :

http://www.sec.gov/litigation/suspensions/2011/34-64101.pdf

[carpenter777]

Thanks