SECURITIES EXCHANGE ACT OF 1934
RELEASE NO. 49761 / May 24, 2004
FILE NO. 3-11501
SEC INSTITUTES ADMINISTRATIVE PROCEEDINGS AGAINST OCUMED GROUP, INC.
The United States Securities and Exchange Commission announced today that it has instituted administrative proceedings against Ocumed Group, Inc. (Ocumed) to determine whether the registration of Ocumed's securities should be suspended or revoked. Ocumed, a Delaware corporation with its principal office in Roseland, New Jersey, sells a broad range of ophthalmic products for both the prescription and over-the-counter (OTC) pharmaceutical markets.
The Commission's Order alleges that Ocumed failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder when it failed to file with the Commission its required Form 10-KSB annual report for its fiscal year ended April 30, 2003 and its Form 10-QSB quarterly reports for its fiscal quarters ended July 31, 2003, October 31, 2003 and January 31, 2004.
A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Ocumed an opportunity to establish any defenses, and to determine whether the registration of Ocumed's common stock should be suspended or revoked.
Pursuant to the Commission's Rules of Practice, an initial decision shall be issued by the administrative law judge within 120 days from service upon Ocumed of the Order Instituting Proceedings.
See also the Order in this matter