Clearly Canadian Beverage (fka CCBEF)

[petermic]

NASD censured and fined Banyan Capital Markets, LLC, of Boca Raton, Florida, its owner and President, Barry F. Goldberg, and a research analyst, Louis M. Fischler, an aggregate of $60,000 in connection with the publication of a research report on Neptune Society, Inc. NASD found that the Neptune research report, published by the firm in June 2001, was unbalanced and contained omissions of material fact. The research report projected that revenues would increase from $12 million in 2000 to more than $56 million in 2005. NASD found that the report failed to disclose the company was under a going concern qualification from its auditors and that the company had experienced a net loss in 2000 of over $8 million. The firm was censured and fined $10,000. Barry F. Goldberg was suspended and fined an additional $20,000, and Fischler, who authored the report was suspended for 45 days and fined $30,000."


FOR RELEASE:
CONTACTS:

Tuesday, December 9, 2003
Nancy A. Condon
202-728-8379
Michael Shokouhi
202-728-8304