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Re: gail post# 34451

Tuesday, 07/12/2016 3:39:13 PM

Tuesday, July 12, 2016 3:39:13 PM

Post# of 34476
Technically, it's a telephonic pre-hearing conference. Representatives of all three respondents--Cascade Technologies, Echo Automotive, and VIICQ--were expected to call in on the 19th.

They were also expected to respond by 5 July to the OIP sent to them by the SEC. None did that, so on 7 July the administrative judge issued a new warning:

On June 15, 2016, the Securities and Exchange Commission issued an order instituting proceedings (OIP) against Respondents pursuant to Section 12(j) of the Securities Exchange Act of 1934. A telephonic prehearing conference is scheduled for 2:30 p.m. EDT on July 19, 2016.

I previously found that Respondents were served with the OIP by June 20 and their answers were due by July 5, 2016. Cascade Techs., Corp., Admin. Proc. Rulings Release No. 3937, 2016 SEC LEXIS 2194 (ALJ June 22, 2016). To date, Respondents have not filed answers.

I ORDER that by July 18, 2016, Respondents shall SHOW CAUSE why the registrations of their securities should not be revoked by default due to their failures to file answers or otherwise defend this proceeding. Any Respondent that fails to respond to this order or attend the preheating conference will be deemed in default, the proceeding will be determined against it, and the registration of its securities will be revoked. OIP at 3; 17 C.F.R. §§ 201.155(a), .220(f), .221(f).


https://www.sec.gov/alj/aljorders/2016/ap-3969.pdf

Since none of the companies has answered the OIP, probably they have no intention of doing so, or of calling in to the conference. The next step will be an initial order revoking registration. If the parties fail to object to that within 21 days--and they pretty much always do fail to object--the initial decision will become final. It usually takes a week, sometimes more, for the judge to get round to announcing that.

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