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SEC ADMINISTRATIVE LAW JUDGE DECISION
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EXTRACTED KEY WORDS
REPORTS EXCHANGE ACT COMMISSION OIP COMMON STOCK QUARTERLY REPORT ANNUAL REPORT ADMINISTRATIVE LAW JUDGE SECURITIES MINING STANSBURY HOLDINGS CORPORATION PURSUANT PERIODIC REPORTS PROCEEDING UTAH DISSOLUTION FINANCIAL STATEMENTS HAMILTON VERMICULITE REPORTING REQUIREMENTS MATERIAL FACT RESPONDENT OIP ALLEGES DISSOLVED UTAH CORPORATION VIOLATIONS HAMILTON VERMICULITE PROPERTY COMPLIANCE CORPORATE CHARTER OMISSIONS MISREPRESENTATION |
Initial Decision of an SEC Administrative Law Judge
Stansbury Holdings Corporation
INITIAL DECISION RELEASE NO. 232
ADMINISTRATIVE PROCEEDING
FILE NO. 3-11108
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
_________________________________________________________________
In the Matter of
STANSBURY HOLDINGS
CORPORATION
_________________________________________________________________
INITIAL DECISION
July 14, 2003
APPEARANCES Robert M. Fusfeld for the Division of Enforcement,
Securities and Exchange Commission.
Scott R. Jenkins for Respondent.
BEFORE James T. Kelly, Administrative Law Judge.
The Securities and Exchange Commission (SEC or Commission) issued its
Order Instituting Proceedings (OIP) on May 7, 2003, pursuant to
Section 12(j) of the Securities Exchange Act of 1934 (Exchange Act).
The Respondent is Stansbury Holdings Corporation (Stansbury), a mining
company formerly headquartered in Denver, Colorado, which has
registered its common stock with the Commission pursuant to Section
12(g) of the Exchange Act. The OIP alleges that Stansbury has failed
to file its annual report with the Commission for the fiscal year
ending June 30, 2002, as well as its quarterly reports for the periods
ending September 30, 2002, and December 31, 2002. The OIP also charges
that Stansbury was late in filing its annual report for the fiscal
year ending June 30, 2001.
The OIP further asserts that Stansbury's quarterly report for the
period ending March 31, 2002, failed to disclose the material fact
that a Montana state court had entered a judgment ordering that one of
Stansbury's most significant mining properties be sold at a sheriff's
sale. The OIP alleges that the report's discussion of this property
without also mentioning the judgment rendered the report materially
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