SECURITIES EXCHANGE ACT OF 1934
Release No. 49474 / March 25, 2004
ADMINISTRATIVE PROCEEDING
FILE NO. 3-11378
In the Matter of Styling Technology Corporation, Respondent. |
: : : : : : : : : : |
ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS PURSUANT TO SECTION 12(j) OF THE SECURITIES EXCHANGE OF 1934 |
I.
The Securities and Exchange Commission ("Commission") deems it appropriate and for the protection of investors to accept the Offer of Settlement submitted by Styling Technology Corporation ("Styling") pursuant to Rule 240(a) of the Rules of Practice of the Commission, 17 C.F.R. § 201.240(a), for the purpose of settlement of the proceedings initiated against Respondent on January 20, 2004.
II.
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission's jurisdiction over it and the subject matter of these proceedings, Respondent consents to the entry of this Order Making Findings and Imposing Remedial Sanctions Pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Order"), as set forth below.
III.
On the basis of this Order and Respondent's Offer, the Commission finds that:
1. Styling's securities are registered with the Commission pursuant to Section 12(g) of the Securities Exchange Act of 1934 ("Exchange Act"), and have been registered since November 1996;
2. Styling is a Delaware corporation with its principal place of business in Scottsdale, Arizona;
3. Styling was formerly engaged in the development, production and marketing of beauty salon products;
4. Styling has failed to file an annual report on Form 10-K with the Commission for the years ending December 31, 2000, December 31, 2001, and December 31, 2002;
5. Styling has failed to file quarterly reports on Form 10-Q with the Commission since the second quarter of 1999;
6. Although Styling is not currently producing or marketing any products, its stock still trades on a limited basis in the Pink Sheets disseminated by Pink Sheets LLC; and
7. On the basis of the above, Styling has failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder.
IV.
In view of the foregoing, the Commission deems it appropriate and for the protection of investors to impose the sanctions specified in Respondent's Offer.
Accordingly, it is hereby ORDERED:
The registration of Styling's securities is revoked pursuant to Section 12(j) of the Securities Exchange Act of 1934.
For the Commission, by its Secretary, pursuant to delegated authority.
Secretary