U.S. SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
RELEASE NO. 45678 / April 2, 2002
SEC SUSPENDS TRADING IN COMMON STOCK OF NETAIR.COM, INC.
The Securities and Exchange Commission today announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading in the securities of NetAir.com, Inc. ("NetAir") at 9:30 a.m. EST on April 2, 2002, and terminating at 11:59 p.m. EST on April 15, 2002. NetAir is a Nevada corporation headquartered in Salt Lake City, Utah. The Commission ordered this trading suspension because questions have been raised regarding the accuracy of assertions by NetAir, and by others, in its annual report filed on Form 10-KSB for the period ended December 31, 2001, and in press releases concerning, among other things: (1) Netair's ability to commence business operations; (2) the qualifications of NetAir's secretary, Robert Waddell, to perform aircraft appraisals, Netair's purported core business; and (3) the identity of the persons in control of the operations and management of the company.
The Commission cautions brokers, 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 NetAir common stock 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.
Any broker, dealer, or other person that has any information that may relate to this matter should telephone Thomas C. Newkirk or James T. Coffman of the Washington, D.C. office of the Securities and Exchange Commission at (202) 942-4550 or (202) 942-4574.