UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 50512 / October 12, 2004
Admin. Proc. File No. 3-11703
SEC INSTITUTES ADMINISTRATIVE PROCEEDINGS AGAINST SOULFOOD CONCEPTS, INC.
The United States Securities and Exchange Commission announced today that it has instituted administrative proceedings against Soulfood Concepts, Inc. to determine whether the registration of Soulfood's securities should be suspended or revoked pursuant to Section 12(j) of the Securities Exchange Act of 1934. Soulfood, a Delaware corporation with its principal office in New York, New York, operates restaurants in New York and Chicago.
In the Commission's Order, the Division of Enforcement alleges that Soulfood failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder when it failed to file its annual report on Form 10-KSB for the fiscal year ended December 31, 2003 and its quarterly reports on Form 10-QSB for its fiscal quarters ended June 30 and September 30, 2003, and March 31 and June 30, 2004.
A hearing will be scheduled before an Administrative Law Judge to determine whether the allegations contained in the Order Instituting Public Proceedings are true, to provide Soulfood an opportunity to establish any defenses, and to determine whether it is necessary and appropriate for the protection of investors to suspend or revoke the registration of Soulfood's securities.
Pursuant to the Commission's Rules of Practice, an initial decision shall be issued by the administrative law judge within 120 days from service upon Soulfood of the Order Instituting Public Proceedings.
See also the Order in this matter