LAWFUEL -The Law News Network – The Securities and Exchange Commission (Commission) announced the temporary suspension of trading in the securities of GMC Holding Corporation (GMC), a Florida corporation based in Casselberry, Florida, at 9:30 a.m. EST on March 8, 2006, and terminating at 11:59 EST on March 21, 2006.
The Commission temporarily suspended trading in the securities of GMC because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the proposed sale of GMC’s alternative energy technology referred to as REMAT and the company’s financial condition and because GMC is delinquent in its periodic filing obligations under Securities Exchange Act (Exchange Act) Section 13(a). This order was entered pursuant to Exchange Act Section 12(k). GMC, a non-reporting issuer, is quoted on the Pink Sheets under the ticker symbol GMCC.
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 question 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, it should refrain from entering quotations relating to GMC’s securities until such time as it 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 which may to relate to this matter, they should immediately contact Teresa Verges, Assistant Regional Director, at the South East Regional Office of the Securities and Exchange Commission, at (305) 982-6384.
