Jeffrey A. Hayden and Barry S. Griffin, et al.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 21145 / July 22, 2009

SEC v. Jeffrey A. Hayden and Barry S. Griffin, et al., Civil Action No. 05-cv-622-RPM (D. Colo.)

SEC ANNOUNCES SETTLEMENTS IN MARKET MANIPULATION CASE INVOLVING SEALIFE CORPORATION

The Securities and Exchange Commission ("Commission") announced today that on June 23, 2009, the United States District Court for the District of Colorado entered final judgments against Jeffrey A. Hayden and Barry S. Griffin. The final judgments settle the Commission's claims against both Hayden and Griffin for alleged violations of the federal securities laws.

In its complaint in this matter, the Commission alleged that during 2003, SeaLife Corporation ("SeaLife") and its president, Robert E. McCaslin engaged in a fraudulent capital-raising scheme that ultimately led to the manipulation of SeaLife securities. The complaint alleged that SeaLife and McCaslin hired stock promoters Roland Thomas and Douglas Glaser to raise capital for the company and that Thomas, Glaser and others, including Hayden and Griffin, participated in the subsequent manipulation of SeaLife securities. At the time the complaint was filed, SeaLife Corporation was a Culver City, California company that claimed to sell environmentally friendly products, such as nontoxic boat paint and certain agricultural products.

Without admitting or denying the allegations in the Commission's complaint, Hayden consented to a final judgment enjoining him from violations of Sections 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 101 of Regulation M thereunder, and Sections 5 and 17(a) of the Securities Act of 1933. Hayden also consented to a bar from participating in an offering of penny stock. On the basis of sworn financial statements and other documents and information furnished to the Commission, payment of disgorgement was waived and civil penalties were not imposed.

Without admitting or denying the allegations in the Commission's complaint, Griffin consented to a final judgment enjoining him from violations of Sections 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 101 of Regulation M thereunder, and Sections 5 and 17(a) of the Securities Act of 1933. Griffin also consented to a bar from participating in an offering of penny stock and to pay disgorgement of $14,898 plus interest of $3,440. On the basis of sworn financial statements and other documents and information furnished to the Commission, civil penalties were not imposed.