SEC Revokes Registration of Heli Electronics
The US Securities and Exchange Commission has ordered to revoke the registration of the registered securities of Heli Electronics Corp. after it failed to file required periodic reports with the federal agency.
HELI is a corporation with a class of securities registered with the Commission pursuant to Section 12(g) of the Exchange Act. Allegedly, it has repeatedly failed to file with the Commission annual and quarterly reports in compliance with the Exchange Act. HELI, a
Nevada corporation, was served with the OIP on February 6, 2012.
According to the SEC, the Guangzhou, China-based company is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-Q on November 8, 2010, for the period ended September 30, 2010.
“Revocation of the registration of the registered securities of HELI will serve the public interest and the protection of investors, pursuant to Section 12(j) of the Exchange Act,” the SEC said.
“HELI’s violations were recurrent, egregious, and deprived the investing public of current and accurate financial information on which to make informed decisions,” it added.
Failure to file periodic reports violates 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.