Moderators:
Search This Board: 
Created: 05/26/2006 01:57:22 PM - Followers: 21 - Board type: Free - Posts Today: 0

UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 Release No. 60142/June 19, 2009

 

ADMINISTRATIVE PROCEEDING File No. 3-13420

___________________________________

In the Matter of GLOBAL MATRECHS, INC.

: : : : :

ORDER MAKING FINDINGS AND REVOKING REGISTRATION BYDEFAULT

___________________________________

 

The Securities and Exchange Commission (Commission) issued its Order Instituting Proceedings (OIP) on March 30, 2009, pursuant to Section 12(j) of the Securities Exchange Act of 1934 (Exchange Act). The Commission delivered the OIP to Respondent Global Matrechs, Inc. (Global), on April 2, 2009, and Global filed an untimely Answer on April 17, 2009. The Division of Enforcement (Division) made its investigative file available to Global, as required.

Following a telephonic prehearing conference, I granted the parties leave to file cross-motions for summary disposition. The Division filed its motion for summary disposition on May 11, 2009. Global’s opposition to the Division’s motion and its cross-motion for summary disposition were due on June 15, 2009. By letter dated June 12, 2009, Global advised that it will not be filing an opposition to the Division’s motion for summary disposition, or, alternatively, its deficient periodic reports. Accordingly, Global is in default for failing to respond to a dispositive motion. See Rule 155(a)(2) of the Commission’s Rules of Practice. As permitted by Rule 155(a), the following allegations of the OIP are deemed to be true.

Global (CIK No. 1021226) is a Delaware corporation with its principal place of business in Ridgefield, Connecticut. Its business purportedly consists of providing safety and storage solutions for the nuclear, environmental, and chemical industries and also serving the nuclear waste, green, and homeland security sectors. Global has a class of equity securities registered with the Commission pursuant to Section 12(g) of the Exchange Act. The company is nearly two years delinquent in its periodic filings with the Commission. The company’s Form 10-K for the period ended December 31, 2006, reported a net loss of approximately $1.7 million for the prior nine months and an accumulated deficit of over $38 million. A "going concern" opinion was included in the independent auditor’s report in the Form 10-K for the fiscal year ended December 31, 2006, and management also disclosed "substantial doubt about the Company’s

ability to continue as a going concern" in its Form 10-QSB for the quarter ended September 30, 2006. According to Commission records, Global has filed notifications of inability to timely file an annual or quarterly report for the period ended December 31, 2006, and for the period ended March 31, 2007. Global filed its Form 10-K for the period ended December 31, 2006, on January 20, 2009. Its securities are currently quoted on Pink Sheets OTC Markets, Inc., under the symbol GBMR.

Global is nearly two years delinquent in its periodic filings with the Commission. Global received a delinquency letter from the Division of Corporation Finance, requesting compliance with its periodic filing obligations. Global responded to the letter by stating that it would cure its delinquent filings. On January 20, 2009, Global filed its Form 10-K for the period ended December 31, 2006. The company has failed to file its seven periodic reports, including one annual report and six quarterly reports after being sent the delinquency letter.

Section 13(a) of the Exchange Act and the rules promulgated thereunder require issuers of securities registered pursuant to Section 12 of the Exchange Act to file with the Commission current and accurate information in periodic reports. Specifically, Rule 13a-1 requires issuers to file annual reports (Forms 10-K or 10-KSB), and Rule 13a-13 requires issuers to file quarterly reports (Forms 10-Q or 10-QSB).

Based on the foregoing, Global has failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder.

IT IS ORDERED THAT, pursuant to Section 12(j) of the Securities Exchange Act of 1934, each class of the registered securities of Global Matrechs, Inc., is revoked.

_______________________ James T. Kelly Administrative Law Judge

 


 

PlusOneCoin Top Posts Free PlusOneCoin
No plusone'd posts yet. Be the first!
Post Subject
#1876
What a joke. Hicks is a clown. https://storystudio.theridgefieldpress.com/2021/0 AMA 11/11/2021 08:51:27 PM
#1875
https://www.sec.gov/litigation/litreleases/2018/lr24049.htm AMA 11/11/2021 08:50:33 PM
#1874 I wonder if Michael Sheppard is still alive? AMA 09/22/2019 10:04:09 PM
#1873 Southridge and Hicks are back in business. I AMA 12/21/2012 04:40:09 PM
#1872 http://www.ct.gov/ag/lib/ag/rfps/rfp2012-07southridgevaluation.pdf igotyafiguredout 05/11/2012 08:56:11 PM
#1871 http://www.ct.gov/dob/cwp/view.asp?a=2246&q=499080 energy_wave 03/04/2012 10:25:24 PM
#1870 Home > Litigation > AMA 07/15/2011 12:01:40 PM
#1869 Hopefully, his a,ss sits in a cell the energy_wave 04/07/2011 03:18:38 PM
#1868 Where is that LIAR scumbag CEO NOW? Scamming AMA 04/03/2011 04:46:52 PM
#1867 How are we going to ever see a AMA 10/28/2010 09:39:51 AM
#1866 Thats but a tip of the iceberg according igotyafiguredout 10/27/2010 11:21:47 PM
#1865 Southridge Hedgie Hicks Shurgs Off Regulators Investor Fraud AMA 10/27/2010 10:41:35 PM
#1864 Hypers going back after the crew according to Reco igotyafiguredout 10/12/2010 05:36:43 PM
#1863 I just stumbled across this forum and would bkerea58 02/09/2010 10:42:51 AM
#1862 AMA..LMAO goupupup 01/28/2010 02:44:14 PM
#1861 LOL...ok. Hopefully they all end up in Jail AMA 12/05/2009 12:40:38 AM
#1860 AMA This might help you a bit, igotyafiguredout 12/05/2009 12:35:43 AM
#1859 AMA its for more than just paying the bill igotyafiguredout 12/05/2009 12:32:38 AM
#1858 Looks like Mikey forgot to pay the webmaster. AMA 12/04/2009 11:48:40 PM
#1857 batscam, you get scammed here? harr449 12/02/2009 06:40:01 PM
#1856 Good to know because Sheppard will do Jail AMA 11/11/2009 04:59:18 PM
#1855 He wasnt lieing when he said stay tuned igotyafiguredout 11/11/2009 04:32:40 PM
#1854 Not much to do since they shut down trading. Batscam 11/06/2009 07:59:33 PM
#1853 hot damn he works quick igotyafiguredout 11/04/2009 09:10:02 PM
#1852 Bat stay tuned its gonna get interesting igotyafiguredout 11/03/2009 09:06:36 PM
#1851 LOL...POS Sheppard better wake up fast. AMA 11/02/2009 09:21:10 PM
#1850 Hmmmmm we may need a bigger cell.............. Batscam 11/02/2009 09:17:44 PM
#1849 Sheppard will go down with Hicks as well. AMA 10/27/2009 08:36:18 AM
#1848 Recos on a rampage... igotyafiguredout 10/27/2009 03:29:51 AM
#1847 SEC and Manhattan District Attorney investigate Southridge Capital AMA 10/09/2009 05:13:46 PM
#1846 MORE NEWS igotyafiguredout 10/09/2009 05:03:11 PM
#1845 You can reach Rae at igotyafiguredout 10/08/2009 03:29:34 PM
#1844 Important news igotyafiguredout 10/08/2009 01:49:25 PM
#1843 TY Rae AMA 10/07/2009 10:07:20 PM
#1842 Very Important post for GBMR share holders AMA 10/07/2009 10:06:36 PM
#1841 Bat, "Yes, I got on Wed afternoon, thank you." Chrf4 10/07/2009 12:35:21 PM
#1840 Dear Shareholders Unitedreco 10/05/2009 03:55:01 PM
#1839 GBMR Chart AMA 09/24/2009 11:09:02 PM
#1838 AMA, Who cares about that symbol. In one year, Chrf4 08/20/2009 10:51:03 AM
#1837 AMA, NO. I don't think you know anything either. They Chrf4 08/18/2009 12:05:44 PM
#1836 Some trading on MRKL Chrf4 08/18/2009 11:53:23 AM
#1835 CHRF4, You know something? AMA 08/17/2009 11:02:05 PM
#1834 rah, rah, rah, was cured by a dose Batscam 08/17/2009 06:33:04 PM
#1833 Bat, "$100,000.00 to be paid out on a quarterly Chrf4 08/13/2009 11:17:14 AM
#1832 Exactly, expected which was a lie....Sheppard never intended AMA 08/13/2009 12:28:14 AM
#1831 They've been "expecting" those sales for over ten years. Batscam 08/13/2009 12:26:29 AM
#1827 Batscam, What does this mean in Time's post: Chrf4 08/12/2009 01:23:43 PM
#1826 LOL, alot us do!!! Batscam 08/11/2009 06:17:40 PM
#1825 I lost alot of money too. Batscam 08/11/2009 06:16:28 PM
#1824 It is a shame Batscam that all of AMA 08/10/2009 11:44:49 PM
Post Subject