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U.S. Securities and Exchange Commission

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

Securities Exchange Act of 1934
Release No. 50524 / October 13, 2004

Admin. Proc. File No. 3-11629


In the Matter of

PIRANHA, INC.,

Respondent.



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ORDER MAKING FINDINGS AND REVOKING REGISTRATION BY DEFAULT

SUMMARY

This Order revokes the registration of the common stock of Piranha, Inc. (Piranha). The revocation is based on Piranha's repeated failure to file required periodic reports with the Securities and Exchange Commission (Commission).

I. BACKGROUND

The Commission initiated this proceeding on September 3, 2004, with an Order Instituting Proceedings (OIP), pursuant to Section 12(j) of the Securities Exchange Act of 1934 (Exchange Act). The OIP alleges that Piranha's common stock is registered under Section 12(g) of the Exchange Act, and that Piranha has failed to file its required annual and quarterly reports since the quarter ended March 31, 2001. Piranha was served with the OIP on September 22, 2004. Piranha failed to file an answer, due on October 12. The Division of Enforcement has filed a Motion for Default. A Respondent that fails to file an answer to the OIP may be deemed to be in default, and the administrative law judge may determine the proceeding against it. See 17 C.F.R. 201.155(a), .220(f). Piranha is in default, and the undersigned finds that the allegations in the OIP are true.

II. FINDINGS OF FACT

Piranha's common stock is, and was during the time at issue, registered with the Commission pursuant to Section 12(g) of the Exchange Act. Piranha failed to file annual reports on Form 10-KSB and quarterly reports on Form 10-QSB for any fiscal period subsequent to its fiscal quarter ended March 31, 2001.

III. CONCLUSIONS OF LAW

By failing to file required annual and quarterly reports, Piranha violated Exchange Act Section 13(a) and Rules 13a-1 and 13a-13.

IV. SANCTION

Revocation of the registration of Piranha's common stock will serve the public interest and the protection of investors, pursuant to Section 12(j) of the Exchange Act. Revocation accords with Commission precedent and sanction considerations set forth in Steadman v. SEC, 603 F.2d 1126, 1140 (5th Cir. 1979), and with the sanctions imposed in similar cases in which corporations violated Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 by failing to file required annual and quarterly reports. See Hamilton Bancorp, Inc., 79 SEC Docket 2680 (A.L.J. Feb. 24, 2003); WSF Corp., 77 SEC Docket 1831 (A.L.J. May 8, 2002).

Piranha violated a crucial provision of the Exchange Act. The purpose of the periodic reporting requirements is to publicly disclose current, accurate financial information about an issuer so that investors may make informed decisions:

The reporting requirements of the Securities Exchange Act of 1934 is the primary tool which Congress has fashioned for the protection of investors from negligent, careless, and deliberate misrepresentations in the sale of stock and securities. Congress has extended the reporting requirements even to companies which are "relatively unknown and insubstantial."

SEC v. Beisinger Indus. Corp., 552 F.2d 15, 18 (1st Cir. 1977) (quoting legislative history).

Piranha's violations were recurrent, egregious, and deprived the investing public of current and accurate financial information on which to make informed decisions.

V. ORDER

IT IS ORDERED that, pursuant to Section 12(j) of the Securities Exchange Act of 1934, 15 U.S.C. 78l(j), the REGISTRATION of the common stock of Piranha, Inc., IS REVOKED.

______________________________
Carol Fox Foelak
Administrative Law Judge


http://www.sec.gov/litigation/admin/34-50524.htm


Modified: 10/14/2004