UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 44388 / June 4, 2001
ACCOUNTING AND AUDITING ENFORCEMENT
Release No. 1402 / June 4, 2001
ADMINISTRATIVE PROCEEDING
File No. 3-10502
_________________________________________________________________
In the Matter of
JAMES M. CASSIDY and
TPG CAPITAL CORPORATION,
Respondents.
_________________________________________________________________
ORDER INSTITUTING PROCEEDINGS
PURSUANT TO SECTION 21C
OF THE SECURITIES EXCHANGE
ACT OF 1934, MAKING FINDINGS
AND IMPOSING A CEASE-AND-
DESIST ORDER
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate that public administrative proceedings be, and hereby are,
instituted pursuant to Section 21C of the Securities Exchange Act of
1934 ("Exchange Act") to determine whether James M. Cassidy
("Cassidy") and TPG Capital Corporation ("TPG Capital") (together,
Cassidy and TPG Capital are hereinafter referred to as the
"Respondents") violated Section 10(b) of the Exchange Act and Rule
10b-5 thereunder, and caused violations of Section 13(a) of the
Exchange Act and Rules 13a-13 and 12b-20 thereunder.
II.
In anticipation of the institution of these administrative
proceedings, Cassidy and TPG Capital have submitted Offers of
Settlement that the Commission has determined to accept. Solely for
the purposes of this proceeding and any other proceeding brought by or
on behalf of the Commission or to which the Commission is a party, and
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
The Securities and Exchange Commission deems it appropriate that public administrative
thereunder.
Solely for the purposes of this proceeding and any other proceeding brought by or on behalf
dings and Imposing a Cease-and-Desist Order.
TPG Capital Corporation is a private company headquartered in Washington, D.C. Cassidy is TPG
issued an "eligibility rule" requiring all companies that displayed their stock quotations on
In the course of providing these services, the Respondents repeatedly made false or
Between May 26, 1999 and November 18, 1999, the Respondents filed amended registration
Three of these companies also filed periodic reports falsely stating that they had not
On June 17, 1999, Aterian Corporation filed a registration statement on Form 10-SB with the
On November 2, 1999, the Respondents sent Gourmet's Choice a draft of a stock-for-stock
Cassidy drafted the Amended Form 10-SB and signed it as Aterian's President and Director.
In the Amended Form 10-SB, Aterian falsely stated that Aterian "has not engaged in any
On June 17, 1999, Forestay Corporation filed a registration statement on Form 10-SB with the
On November 5, 1999, the Respondents provided Milinx Business Group, Inc., with a sample
On November 17, 1999, the Respondents sent the finalized merger documents to Milinx for
On December 10, 1999, Forestay and Milinx closed the reverse merger transaction.
On June 17, 1999, Epilogue Corporation filed a registration statement on Form 10-SB with the
On June 17, 1999, Abbacy Corporation filed a registration statement on Form 10-SB with the
On February 19, 1999, Torbay Acquisition Corporation filed a registration statement on Form
On March 24, 1999, Cassidy formed Acropolis Acquisition Corporation, and later changed the
Violations of Section 10and Rule 10b-5
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