U.S. Securities & Exchange Commission
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U.S. Securities and Exchange Commission


Securities Act of 1933
Release No. 8032/ November 13, 2001

Administrative Proceeding
File No. 3-10635

The Commission announced that on November 13, 2001, it issued an Order Fixing Time and Place of Public Hearing and Instituting Proceedings pursuant to Section 8(d) of the Securities Act of 1933, in the Matter of a Registration Statement of Toks Inc. In the Order, the Division of Enforcement alleges that the registration statement Toks originally filed on August 31, 2001, and amended on September 7, 2001, contains untrue statements of material fact and omits material facts required to be stated. The Division of Enforcement alleges that Toks fails to provide current and historical financial information in the registration statement as required by the Commission's forms and regulations governing the offer and sale of securities to the public and fails to describe adequately its purported ability to obtain $10 billion of debt financing or to register $2 trillion in stock to launch exchange tender offers for the securities of large public companies. The Commission instituted these proceedings pursuant to Section 8(d) of the Securities Act to determine whether the allegations of the Division of Enforcement are true; to afford the registrant an opportunity to establish any defenses to these allegations; and to determine whether a stop order should be issued suspending the effectiveness of the Toks registration statement. A hearing will be held before an Administrative Law Judge to determine whether these allegations are true at 10:00 a.m. on November 29, 2001.


Modified: 11/16/2001