LAWFUEL – Law News Network – The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of AdZone Research, Inc. (“AdZone”), a Nevada corporation headquartered in Toronto, Ontario, at 9:30 a.m. EDT on July 5, 2006, and terminating at 11:59 p.m. EDT on July 18, 2006.
The Commission temporarily suspended trading in the securities of AdZone because questions have arisen about the accuracy of assertions by AdZone, and by others, in press releases and internet postings to investors, concerning, among other things: (1) the company’s contracts with two non-profit organizations, (2) the nature and extent of the orders that the company has received for the sale of licenses of its software products, and (3) the company’s recent contributions to its employee Incentive Stock Plan. AdZone’s common stock is quoted on the OTC Bulletin Board under the symbol “ADZR.”
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff in the Division of Market Regulation, Office of Interpretation and Guidance, at (202) 551-5760. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to AdZone’s securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
If any broker, dealer or other person has any information that may relate to this matter, they should contact Robert C. Besse or Cory C. Kirchert in the home office of the Securities and Exchange Commission at (202) 551-4453 or (202) 551-4716, respectively.