SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. Litigation Release No. 15422 / July 25, 1997 Securities and Exchange Commission v. BioCoral Inc. Civil No. 97-CV-101676 (D.D.C.) (filed July 25, 1997) On July 25, 1997, the Commission filed a complaint in the United States District Court for the District of Columbia against BioCoral, Inc. ("BioCoral"). The complaint alleges that BioCoral, a medical products company, failed to make available to the investing public current and accurate information about its financial condition and results of operation through the filing of periodic reports with the Commission as required by the Securities Exchange Act of 1934 ("Exchange Act"). Specifically, the complaint alleges that BioCoral has not filed its Annual Report on Form 10- K for the fiscal year December 31, 1996, two Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 1997 and September 30, 1996, and five Notifications of Late Filing with respect to its delinquent reports. The Commission seeks to compel BioCoral to file its delinquent periodic reports and enjoin BioCoral from further violations of Section 13(a) of the Exchange Act of 1934 and Rules 12b-25, 13a-1 and 13a-13 thereunder. Simultaneously with the filing of the Commission's complaint, BioCoral consented to the entry of a Final Judgment granting the relief sought by the Commission and admitted that it had not filed the periodic reports as described above. ======END OF PAGE 1======