UNITED STATES SECURITIES AND EXCHANGE COMMISSIONSECURITIES EXCHANGE ACT OF 1934
Release No. 41688 / August 2, 1999
IN THE MATTER OF DYNAMIC AMERICAN CORPORATION
Today, the Commission instituted proceedings against Dynamic American Corporation to determine whether the registration of its stock under the Exchange Act should be revoked. Dynamic American is a defunct Utah shell corporation whose stock is traded on the National Association of Securities Dealers Bulletin Board. The Order Instituting Proceedings alleges that Dynamic American did not file required annual or quarterly reports with the Commission for any period after the quarter ended September 30, 1995. Dynamic American registered its stock under the Exchange Act and became required to file these and other periodic reports in 1972. Section 12(j) of the Exchange Act, the provision under which these proceedings are instituted, provides that the registration of a security may be revoked by the Commission based upon failure to comply with any requirement of the Exchange Act. Section 12(j) further provides that brokers and dealers may not trade a security whose registration has been revoked through this process.
A hearing will be held to determine whether the staff's allegations are true, and if so, what, if any, sanction is necessary or appropriate for the protection of investors.