Enterprises Solutions, Inc., Herbert S. Cannon, and Dr. John A. Solomon

Litigation Release No. 16778A / September 17, 2001

SECURITIES AND EXCHANGE COMMISSION v. ENTERPRISES SOLUTIONS, INC., HERBERT S. CANNON, and DR. JOHN A. SOLOMON, United States District Court for the Southern District of New York, Case No. 00 Civ. 2685 (MGC)

The Commission's Litigation Release No. 16778, published on October 25, 2000, announced that on October 16, 2000, Enterprises Solutions, Inc. had been permanently enjoined by a federal district court from violating the antifraud provisions of the Securities Exchange Act of 1934 and ordered to comply with its undertaking to amend its Form 10-SB registration statement. The release further stated that Enterprises Solutions had consented to amend its registration statement to disclose, among other things, that "a federal district court in 1997 enjoined by consent Jeffrey A. Moritz, formerly Enterprises Solutions' treasurer and a director, from future violations of the antifraud provisions of the federal securities laws in connection with soliciting investors to purchase fictitious `prime bank' instruments." The release was erroneous. Instead of Jeffrey A. Moritz, it should have referred to Jeffrey M. Moritz. Furthermore, the Jeffrey M. Moritz who was associated with Enterprises Solutions was not enjoined in 1997. That injunction was entered against another person with the same name.

See previous Litigation Release No. 16778, October 25, 2000.