(The following press release from The Securities and Exchange Commission was
received by e-mail. The sender verified the statement.)
December 28, 2012
The Securities and Exchange Commission ("Commission") announced the temporary
suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934
(the "Exchange Act"), of trading in the securities of Southridge Enterprises,
Inc. ("Southridge"), of Dallas, Texas, commencing at 9:30 a.m. EST on December
28, 2012, and terminating at 11:59 p.m. EST on January 11, 2013.
The Commission temporarily suspended trading in the securities of Southridge
because of questions regarding the accuracy of statements made by Southridge in
press releases to investors concerning, among other things, the company's
business operations and arrangements, including certain claims regarding a
joint partnership and an arrangement to obtain funding and to change the
listing venue for Southridge stock.
The Commission cautions broker-dealers, shareholders, and prospective
purchasers that they should carefully consider the foregoing information along
with all other currently available information and any information subsequently
issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule
15c2-11 under the Exchange Act, at the termination of the trading suspension,
no quotation may be entered unless and until they have strictly complied with
all of the provisions of the rule. If any broker or dealer has any questions as
to whether or not he has complied with the rule, he should not enter any
quotation but immediately contact the staff in the Division of Trading and
Markets, Office of Interpretation and Guidance, at (202) 551-5777. If any
broker or dealer is uncertain as to what is required by Rule 15c2-11, he should
refrain from entering quotations relating to Southridge's securities until such
time as he has familiarized himself with the rule and is certain that all of
its provisions have been met. If any broker or dealer enters any quotation
which is in violation of the rule, the Commission will consider the need for
prompt enforcement action.
Any broker-dealer or other person with information relating to this matter is
invited to contact Osman Handoo, Senior Counsel, in the Washington, D.C. office
of the Securities and Exchange Commission, at (202) 551-4536.
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