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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
DAVIS SECURITIES ACT COMMISSION VIOLATION INTERNET PROCEEDING OFFERING AUCTION SITE EBAY EXEMPTIONS PURCHASE PUBLIC SHELL RESPONDENT SELL INSTITUTING FINDINGS BASIS LAWS PERMITS SALE POSTING GENERAL SOLICITATION SCIENTER EXCHANGE COMMISSION IMPOSING CEASE-AND-DESIST ORDER FILINGS TEXAS PROVISIONS |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7756 / October 20, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-10080
In the Matter of
RICHARD L. DAVIS
ORDER INSTITUTING PUBLIC PROCEEDINGS,
MAKING FINDINGS, AND IMPOSING A
CEASE-AND-DESIST ORDER
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate that a public cease-and-desist proceeding be, and hereby
is, instituted pursuant to Section 8A of the Securities Act of 1933
("Securities Act") to determine whether Richard L. Davis ("Davis" or
"Respondent") violated Sections 17(a)(1), 17(a)(3) and 5(c) of the
Securities Act.
II.
In anticipation of the institution of this proceeding, Davis has
submitted an Offer of Settlement ("Offer"), which the Commission has
determined to accept. Solely for the purpose of this proceeding 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 contained herein, except that Respondent admits the
jurisdiction of the Commission over him and over the subject matter of
this proceeding, Davis consents to the issuance of this Order
Instituting Public Proceedings, Making Findings, and Imposing a
Cease-and-Desist Order ("Order") and to the entry of the findings and
the imposition of the relief set forth below.
III.
On the basis of this Order and Respondent's Offer, the Commission
finds the following
Respondent
A. Davis, age 28, resides in Duncanville, Texas and is the founder of
a company known as Mindhunt.com. Mindhunt.com purports to be in the
process of creating an Internet web site geared to children 16 years
old and younger. Mindhunt.com was incorporated in the state of Texas
on June 24, 1999. Mindhunt.com has never made any filings with the
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