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SEC v CANCEROPTION.COM, INC. and ARNOLD C. TAKEMOTO Click to find out why . . .



Keywords & Phrases
CaseNo: 34-43246, Defendant: CancerOption.com, Inc. and Arnold C. Takemoto, Plaintiff: SEC, UniqueCaseRef: SEC>34-43246, Canceroption, Reports, Respondents, Analyst, Commission, Exchange Act, Projections, Takemoto, Website, Canceroption Stock, Revenue, Securities, Internet Sales, Price, Pursuant, Findings, Material Fact, Investor Relations Firm, Independent Analyst, Shares, Violations, Basis, Purchase, Cease, Deems, Settlement, Arizona, Cancer-related Nutritional Supplements, Exercise , ContentID: 120244267

Case Documents
1 2000-09-06 SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below  ] ItemID: 111001
4 pages
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Total Documents: 1 document , 4 pages
Price: $ 19.95


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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS
REPORTS
RESPONDENTS
ANALYST
COMMISSION
EXCHANGE ACT
PROJECTIONS
TAKEMOTO
WEBSITE
CANCEROPTION STOCK
REVENUE
SECURITIES
INTERNET SALES
PRICE
PURSUANT
FINDINGS
MATERIAL FACT
INVESTOR RELATIONS FIRM
INDEPENDENT ANALYST
SHARES
VIOLATIONS
BASIS
BUSINESS
PURCHASE
CEASE
DEEMS
SETTLEMENT
ARIZONA
CANCER-RELATED NUTRITIONAL SUPPLEMENTS
EXERCISE
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

   SECURITIES ACT OF 1934
   Release No.43246 / September 6, 2000

   ADMINISTRATIVE PROCEEDING
   File No.3-10275

   In the Matter of

   CancerOption.com, Inc. and

   Arnold C. Takemoto

   Respondent.

   ORDER INSTITUTING PUBLIC CEASE-
   AND-DESIST PROCEEDINGS
   PURSUANT TO SECTION 21C OF THE
   SECURITIES AND EXCHANGE ACT OF
   1934, MAKING FINDINGS AND
   IMPOSING A CEASE AND DESIST
   ORDER

                                     I.

   The Securities and Exchange Commission ("Commission") deems it
   appropriate to institute public cease-and-desist proceedings against
   CancerOption.com, Inc. ("CancerOption") and Arnold C. Takemoto
   (together the "Respondents") pursuant to Section 21C of the Securities
   Exchange Act of 1934 ("Exchange Act").

   In anticipation of the institution of these administrative
   proceedings, Respondents have submitted an Offer of Settlement
   ("Offer"), which the Commission has determined to accept. Solely for
   the purpose of these proceedings and any other proceedings brought by
   or on behalf of the Commission or in which the Commission is a party,
   and without admitting or denying the findings herein, except that they
   admit the jurisdiction of the Commission over them and over the
   matters set forth herein, Respondents have consented to the entry of
   the findings and the imposition of the cease-and-desist order
   ("Order") as set forth below.

                                    II.

   On the basis of this Order and the Offer submitted by Respondents, the
SNIPPETS:
  • SECURITIES AND EXCHANGE COMMISSION
  • ORDER INSTITUTING PUBLIC CEASE-AND-DESIST PROCEEDINGS PURSUANT TO SECTION 21C OF THE
  • The Securities and Exchange Commission deems it appropriate to institute public
  • In anticipation of the institution of these administrative proceedings, Respondents have
  • CancerOption is a Florida corporation with operations in Phoenix, Arizona, and Vancouver,
  • CancerOption operates an Internet website focusing on alternative treatments for cancer and
  • At all relevant times, CancerOption stock was quoted on the Bulletin Board.
  • Takemoto exercised, and continues to exercise, control over all aspects of CancerOption's
  • two analysts issued highly favorable research reports based on false revenue and stock price
  • Both analysts recommended the purchase of CancerOption stock.
  • One report projected CancerOption would earn revenues based on Internet sales alone of $5
  • The projections contained in both analyst reports were false and without reasonable basis.
  • The projections had no basis in prior sales revenues since CancerOption had just entered the
  • Moreover, CancerOption's website experienced substantial technical difficulties in 1999 and
  • Respondents, directly and indirectly through CancerOption's investor relations firm, paid
  • On August 3, 1999, before CancerOption issued press releases announcing the analyst reports
  • H. Section 10of the Exchange Act and Rule 10b-5 thereunder, prohibit persons from, directly leading; or engaging in any transaction, practice, or course of business which operates or would
  • Respondents violated the antifraud provisions of the Exchange Act by posting on the
  • the Commission deems it appropriate to accept the Offer submitted by Respondents.
  • Respondents cease and desist from committing or causing any violations and any future
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