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U.S. Securities and Exchange Commission

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 42211 / December 9, 1999

ADMINISTRATIVE PROCEEDING
File No. 3-10056

I.

In these proceedings ordered pursuant to Section 15(b)(6)(A) of the Securities Exchange Act of 1934 ("Exchange Act"), Respondents Ronald A. Knittle ("Knittle") and Gregory G. Vernon ("Vernon") have submitted Offers of Settlement ("Offers") which the Securities and Exchange Commission has determined to accept.1 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, Knittle and Vernon consent to the entry of this Order of the Commission Making Findings and Imposing Remedial Sanctions Pursuant to Section 15(b)(6)(A) of the Securities Exchange Act of 1934, without admitting or denying the findings of this Order, except that they admit the jurisdiction of the Commission with respect to the matters set forth in this Order, and that they were enjoined from various violations of the securities laws as set forth in this Order.

II.

On the basis of Knittle's and Vernon's Offers, the Commission finds that:

1) On July 16, 1999, Vernon was enjoined by the United States District Court for the District of Colorado from, among other things, in connection with the purchase or sale of securities, violating various provisions of the securities laws, namely, Sections 5(a), 5(c), 17(a), and 17(b) of the Securities Act of 1933 ("Securities Act") and Section 10(b)of the Exchange Act and Rule 10b-5, thereunder. [SEC v. Golden Eagle International, Inc., et. al., Civil Action No. 98-Z-1020, U.S.D.C. Colo.]

2) On September 21, 1999 Knittle was enjoined by the United States District Court for the District of Colorado from, among other things, in connection with the purchase or sale of securities, violating various provisions of the securities laws, namely, Sections 5(a), 5(c), and 17(a) of the Securities Act and Sections 10(b), 13(a), 13(b)(2)(A), 13(b)(2)(B)(ii), and 13(d) of the Exchange Act and Rules 10b-5, 13a-1, 13a-11, 13a-13, 12b-20, and 13d-1 thereunder. [SEC v. Golden Eagle International, Inc., et. al., Civil Action No. 98-Z-1020, U.S.D.C. Colo.]

3) At the time of the conduct for which they were enjoined, Knittle and Vernon were participating in the offering of a penny stock, namely Golden Eagle International, Inc.

III.

In view of the foregoing, the Commission finds that it is in the public interest to impose the sanctions specified in the Offers of Settlement.

Accordingly, IT IS ORDERED that:

A. Knittle be, pursuant to Section 15(b)(6)(A) of the Exchange Act, barred from participating in an offering of penny stock, including acting as a promoter, finder, consultant, agent, or other person who engages in activities with a broker, dealer, or issuer for purposes of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock.

B. Vernon be, pursuant to Section 15(b)(6)(A) of the Exchange Act, barred from participating in an offering of penny stock, including acting as a promoter, finder, consultant, agent, or other person who engages in activities with a broker, dealer, or issuer for purposes of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock.

For the Commission, pursuant to delegated authority, by its Secretary.

Jonathan G. Katz
Secretary


FOOTNOTES

1 An Order Instituting Public Administrative Proceedings Pursuant to Section 15(b)(6)(A) of the Securities Exchange Act of 1934 against Knittle and Vernon was issued by the Commission on September 30, 1999.

http://www.sec.gov/litigation/admin/34-42211.htm


Modified:12/15/1999