SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of over-the-counter trading of the securities of Green Oasis Environmental, Inc. ("Green Oasis"), at 9:30 a.m. EDT, on May 9, 1997, and terminating at 11:59 p.m. EDT on May 22, 1997. Green Oasis, a Charleston, South Carolina based company, is purportedly engaged in the business of developing and selling equipment to process waste motor oil into more valuable fuels.
The Commission temporarily suspended trading in the securities of Green Oasis because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, Green Oasis' press releases concerning (1) the development of Green Oasis' products; (2) Green Oasis' business operations, including the testing of its equipment; (3) relationships between Green Oasis and a financial analyst who recommended purchase of its shares; and (4) the commercial viability of the contracts Green Oasis has announced it received to purchase its equipment.
The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Green Oasis' securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
If any broker-dealer or other person has any information which may relate to this matter, the Atlanta, Georgia, office of the Securities and Exchange Commission should be telephoned at (404) 842-7600.http://www.sec.gov/litigation/suspensions/34-38588.htm