Replies to post #2092 on SEC Suspensions & Revocations

[JohnCM]

What??

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 81869 / October 12, 2017

ADMINISTRATIVE PROCEEDING
File No. 3-18206
In the Matter of
IN Media Corporation,
New Media Insight Group, Inc.,
Pacific Sands, Inc., and
Saleen Automotive, Inc.,
Respondents.

ORDER MAKING FINDINGS AND REVOKING REGISTRATION OF SECURITIES PURSUANT TO SECTION 12(j) OF THE SECURITIES
EXCHANGE ACT OF 1934 AS TO SALEEN AUTOMOTIVE, INC.

I.
The Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors to accept the Offer of Settlement submitted by Saleen Automotive, Inc. (“Saleen” or “Respondent”) pursuant to Rule 240(a) of the Rules of Practice of the Commission, 17 C.F.R. § 201.240(a), for the purpose of settlement of these proceedings initiated against Respondent on September 25, 2017, pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange Act”).

II.
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Making Findings and Revoking Registration of Securities Pursuant to Section 12(j) of the Securities Exchange Act of 1934 as to Saleen Automotive, Inc. (“Order”), as set forth below.

III.
On the basis of this Order and Respondent’s Offer, the Commission finds that:

1. Saleen (CIK No. 1528098) is a Nevada corporation located in Corona, California. At all times relevant to this proceeding, the securities of Saleen have been registered under Exchange Act Section 12(g). As of September 5, 2017, the company’s stock (symbol “SLNN”) was quoted on OTC Link (previously “Pink Sheets”) operated by OTC Markets Group Inc. (“OTC Link”), had seven market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).

2. Saleen failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder because it has not filed any periodic reports with the Commission since the period ended December 31, 2015.

IV.
In view of the foregoing, the Commission deems it necessary and appropriate for the protection of investors to impose the sanction specified in Respondent’s Offer.

Accordingly, it is hereby ORDERED, pursuant to Section 12(j) of the Exchange Act, that registration of each class of Respondent’s securities registered pursuant to Section 12 of the Exchange Act be, and hereby is, revoked.

2 The revocation is effective as of October 13, 2017.

For the Commission, by its Secretary, pursuant to delegated authority.
Brent J. Fields
Secretary

1 The findings herein are made pursuant to Respondent’s Offer of Settlement and are not binding on any other person or entity in this or any other proceeding.

2 This Order applies to all classes of Respondent’s securities registered pursuant to Section 12 of the Exchange Act, whether or not such securities are specifically identified by ticker symbol or otherwise in this Order.