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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
REGISTRATION STATEMENT TOKS COMMISSION SECURITIES ACT PROCEEDINGS PURSUANT ENFORCEMENT ALLEGES ALLEGATIONS EXCHANGE INSTITUTING MATERIAL FACT FAILS FINANCING MATTER UNTRUE STATEMENTS OMITS MATERIAL FACTS HISTORICAL FINANCIAL INFORMATION REGULATIONS GOVERNING SALE PURPORTED ABILITY DEBT FINANCING TRILLION STOCK LAUNCH EXCHANGE TENDER PUBLIC COMPANIES AFFORD DEFENSES ISSUED SUSPENDING EFFECTIVENESS ADMINISTRATIVE LAW JUDGE |
SECURITIES AND EXCHANGE COMMISSION
Securities Act of 1933
Release No. 8032/ November 13, 2001
Administrative Proceeding
File No. 3-10635
The Commission announced that on November 13, 2001, it issued an Order
Fixing Time and Place of Public Hearing and Instituting Proceedings
pursuant to Section 8(d) of the Securities Act of 1933, in the Matter
of a Registration Statement of Toks Inc. In the Order, the Division of
Enforcement alleges that the registration statement Toks originally
filed on August 31, 2001, and amended on September 7, 2001, contains
untrue statements of material fact and omits material facts required
to be stated. The Division of Enforcement alleges that Toks fails to
provide current and historical financial information in the
registration statement as required by the Commission's forms and
regulations governing the offer and sale of securities to the public
and fails to describe adequately its purported ability to obtain $10
billion of debt financing or to register $2 trillion in stock to
launch exchange tender offers for the securities of large public
companies. The Commission instituted these proceedings pursuant to
Section 8(d) of the Securities Act to determine whether the
allegations of the Division of Enforcement are true; to afford the
registrant an opportunity to establish any defenses to these
allegations; and to determine whether a stop order should be issued
suspending the effectiveness of the Toks registration statement. A
hearing will be held before an Administrative Law Judge to determine
whether these allegations are true at 10 00 a.m. on November 29, 2001.
_________________________________________________________________
Modified 11/16/2001
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