UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 50429 / September 23, 2004
Administrative Proceeding File No. 3-11679
In the Matter of The Village Green Bookstore, Inc.
U.S. SECURITIES AND EXCHANGE COMMISSION INSTITUTES ADMINISTRATIVE PROCEEDING TO REVOKE REGISTRATION OF THE VILLAGE GREEN BOOKSTORE, INC. FOR FAILING TO MAKE REQUIRED PERIODIC FILINGS
The U.S. Securities and Exchange Commission today instituted a public administrative proceeding pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act") against The Village Green Bookstore, Inc. of Rochester, New York to determine whether the registration of its securities should be revoked or suspended for failure to file required periodic reports.
In this proceeding, the Commission issued an Order Instituting Administrative Proceedings and Notice of Hearing Pursuant To Section 12(j) of the Securities Exchange Act of 1934. In this Order, the Division of Enforcement alleges that The Village Green Bookstore, Inc. has not filed a periodic report since the period ending August 3, 1997, except for a deficient Form 10-KSB for the fiscal year ended February 1, 2004, that was filed with the Commission on July 13, 2004. The Division of Enforcement also alleges that the company, which once operated a chain of retail bookstores, has been in Chapter 7, and now Chapter 11, bankruptcy proceedings since April 1998, and has not engaged in any business activities since 1998. The Division of Enforcement further alleges that the company, a New York corporation, has an inactive status with the New York Department of State, and its stock is quoted on the Pink Sheets under symbol "VGBK."
In the proceeding pursuant to Section 12(j) of the Exchange Act, a hearing will be scheduled before an Administrative Law Judge to determine whether the allegations of the Division of Enforcement contained in the Order are true, to provide respondent The Village Green Bookstore, Inc. an opportunity to dispute the allegations, and to determine whether the issuer's securities registrations pursuant to Exchange Act Section 12 should be revoked, or in the alternative, suspended for a period not exceeding twelve months.
See also the Order in this matter.