Attached files
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| 8-K - 8-K - Urban Hydroponics, Inc. | urbanhydro8k061418.htm |
Exhibit 99.1
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 83420 / June 12, 2018
ADMINISTRATIVE PROCEEDING File No. 3-18500
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In the Matter of
Solo International, Inc., Urban Hydroponics, Inc., and Your Event, Inc.,
Respondents.
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ORDER MAKING FINDINGS AND REVOKING REGISTRATION OF SECURITIES PURSUANT TO SECTION 12(j) OF THE SECURITIES EXCHANGE ACT OF 1934 AS TO URBAN HYDROPONICS, INC.
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I.
The Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors to accept the Offer of Settlement submitted by Urban Hydroponics, Inc. (“Urban Hydroponics” or “Respondent”) pursuant to Rule 240(a) of the Rules of Practice of the Commission, 17 C.F.R. § 201.240(a), for the purpose of settlement of these proceedings initiated against Respondent on May 23, 2018, pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange Act”).
II.
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Making Findings and Revoking Registration of Securities Pursuant to Section 12(j) of the Securities Exchange Act of 1934 as to Urban Hydroponics, Inc. (“Order”), as set forth below.
III.
On the basis of this Order and Respondent’s Offer, the Commission finds1 that:
1. Urban Hydroponics (CIK No. 1336282) is a Nevada corporation located in New York, New York. At all times relevant to this proceeding, the securities of Urban Hydroponics have been registered under Exchange Act Section 12(g).
2. Urban Hydroponics failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder because it has not filed any periodic reports with the Commission since the period ended September 30, 2015. As of May 21, 2018, the company’s common stock (symbol “URHY”) was quoted on OTC Link (previously “Pink Sheets”) operated by OTC Markets Group Inc. (“OTC Link”), had four market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
IV.
In view of the foregoing, the Commission deems it necessary and appropriate for the protection of investors to impose the sanction specified in Respondent’s Offer.
Accordingly, it is hereby ORDERED, pursuant to Section 12(j) of the Exchange Act, that registration of each class of Respondent’s securities registered pursuant to Section 12 of the Exchange Act be, and hereby is, revoked. The revocation is effective as of June 13, 2018.
For the Commission, by its Secretary, pursuant to delegated authority.
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Brent J. Fields
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Secretary
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1 The findings herein are made pursuant to Respondent’s Offer of Settlement and are not binding on any other person or entity in this or any other proceeding.