UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 50438 / September 24, 2004
File No. 3-11683
In the Matter of Emex Corporation
On September 24, 2004, the Securities and Exchange Commission ("Commission") instituted administrative proceedings against Emex Corporation ("Emex") pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act"). Emex, a Nevada corporation formerly headquartered in New York, New York, purportedly focused on developing innovative technologies for exploiting energy resources, in particular natural gas, and on mining gold and other metals and minerals.
The purpose of the proceedings is to determine whether the registration of Emex's common stock should be suspended or revoked. The Division of Enforcement ("Division") alleges in the Order Instituting Public Administrative Proceedings and Notice of Hearing Pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Order") that Emex has failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder. Exchange Act Section 13(a) and the rules promulgated thereunder require issuers of securities registered pursuant to Exchange Act Section 12 to file with the Commission current and accurate information in periodic reports, even if the registration is voluntary under Section 12(g). Specifically, Rule 13a-1 requires issuers to file annual reports (Forms 10-K or 10-KSB), and Rule 13a-13 requires issuers to file quarterly reports (Forms 10-Q or 10-QSB). The Division alleges that Emex failed to file annual reports on Form 10-KSB for the years ended December 31, 2002 and December 31, 2003, and failed to file quarterly reports on Form 10-QSB for the quarters ended March 31, 2003, June 30, 2003, September 30, 2003, and March 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 Emex the opportunity to dispute these allegations, and to determine whether it is necessary and appropriate for the protection of investors to suspend or revoke the registration of Emex's securities. The Commission directed that an administrative law judge shall issue an initial decision in this matter within 120 days from the date of service of the Order.
See also the Order in this matter