j sec news digest · j ' sec news digest issue 2000-103 may 31, 2000 enforcement froceedings...

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\ !' .J SEC NEWS DIGEST Issue 2000-103 May 31, 2000 ENFORCEMENT FROCEEDINGS COMMISSION SETTLES PUBLIC ADMINISTRATIVE PROCEEDINGS AGAINST BRIAN WALFISH On May 30, the Commission instituted and simultaneously settled public administrative proceedings, pursuant to Sections 15(b) and 19(h)- of the Securities Exchange Act of 1934 (Exchange Act), against Brian Walfish (Walfish), a former registered representative at Wise Choice Discount Brokerage, Inc, a now defunct registered broker-dealer. In the Order, the Commission barred Walfish from association with any broker or dealer. The Commission's Order finds that on June 30, 1999, the United States District Court for the Southern District of New York enjoined Walfish from future violations of Sections 5(a) and 17(a) of the Securities Act of 1933, Section lOeb) of the Exchange Act, and Rules 1Ob-5 and lOb-9 thereunder, and ordered Walfish to disgorge $928,827 50 plus prejudgment interest of $75,337.55 and to pay a civil penalty of $10,000 (SEC v. Nichi Capital, et at, 98 Civ. 2218. CSH. SDNY). The Commission's complaint alleged that Walfish fraudulently offered and sold unregistered stock in Nichi Capital, Ltd. (Nichi) to investors both in a private placement and in a purported initial public offenng (IPO). Walfish solicited investors based on oral and written misrepresentations concerning the purported IPO. The Order also finds that on October 15, 1999, Walfish pled guilty to one count of conspiracy to commit securities fraud in connection with conduct involving Nichi, as well as to three conspiracy counts in connection with conduct unrelated to Nichi (U.S. v. Bakal, 98 Cr. 329, SDNY, TPG) (Rei 34-42856, File No. 3-10211) COMPLAINT CHARGES MICHAEL SHERMAN AND SCOTT SHERMAN WITH FRAUD The Commission announced that has filed and simultaneously settled insider trading charges against two brothers who are the principals of a financial printing firm. The Commission's complaint alleges that the brothers sold short the stock of a public company client, Home State Holdings, Inc., while they were in possession of

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Page 1: J SEC NEWS DIGEST · j ' sec news digest issue 2000-103 may 31, 2000 enforcement froceedings ... complaint charges michael sherman and scott sherman with fraud

\ ! '.J

SEC NEWS DIGESTIssue 2000-103 May 31, 2000

ENFORCEMENT FROCEEDINGS

COMMISSION SETTLES PUBLIC ADMINISTRATIVE PROCEEDINGS AGAINST BRIAN WALFISH

On May 30, the Commission instituted and simultaneously settled public administrative proceedings, pursuant to Sections 15(b) and 19(h)- of the Securities Exchange Act of 1934 (Exchange Act), against Brian Walfish (Walfish), a former registered representative at Wise Choice Discount Brokerage, Inc, a now defunct registered broker-dealer. In the Order, the Commission barred Walfish from association with any broker or dealer.

The Commission's Order finds that on June 30, 1999, the United States District Court for the Southern District of New York enjoined Walfish from future violations of Sections 5(a) and 17(a) of the Securities Act of 1933, Section lOeb) of the Exchange Act, and Rules 1Ob-5 and lOb-9 thereunder, and ordered Walfish to disgorge $928,827 50 plus prejudgment interest of $75,337.55 and to pay a civil penalty of $10,000 (SEC v. Nichi Capital, et at, 98 Civ. 2218. CSH. SDNY). The Commission's complaint alleged that Walfish fraudulently offered and sold unregistered stock in Nichi Capital, Ltd. (Nichi) to investors both in a private placement and in a purported initial public offenng (IPO). Walfish solicited investors based on oral and written misrepresentations concerning the purported IPO. The Order also finds that on October 15, 1999, Walfish pled guilty to one count of conspiracy to commit securities fraud in connection with conduct involving Nichi, as well as to three conspiracy counts in connection with conduct unrelated to Nichi (U.S. v. Bakal, 98 Cr. 329, SDNY, TPG) (Rei 34-42856, File No. 3-10211)

COMPLAINT CHARGES MICHAEL SHERMAN AND SCOTT SHERMAN WITH FRAUD

The Commission announced that has filed and simultaneously settled insider trading charges against two brothers who are the principals of a financial printing firm. The Commission's complaint alleges that the brothers sold short the stock of a public company client, Home State Holdings, Inc., while they were in possession of

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materially adverse non-public information about Home State's financial performance. The defendants charged today are Michael D. Sherman and Scott P. Sherman, both of Watermill, New York.

The Commission's complaint alleges that Michael Sherman and Scott Sherman are co-owners of Fillit Group, Inc., a company located in Bridgehampton, New York, that designs and produces annual reports for corporations. Fillit produced Home State's 1995 annual report, and was retained to produce Home State's 1996 report. On February 27, 1997, Home State informed Michael Sherman or Scott Sherman, that Home State was about to announce significant operating losses for the quarter ended December 31, 1996, and that Home State was therefore abandoning plans to prepare an expensive annual report. Later that same day, the defendants each sold short 5,000 shares of Home State C4.lm111onstock. Also on that day, the defendants tipped a relative who then sold short 5,100 shares of Home State common stock.

One day later, Home State issued a press release announcing its losses. By March 4, 1997, the second day of trading after the announcement, the price of Home State common stock had dropped 30 percent. On March 4, 1997, the defendants each bought 5,000 shares of Home State common stock to cover their respective short positions Between March 3, 1997 and March 4, 1997, the defendants' relative bought 5,100 shares of Home State common stock to cover his short positions As a result, the defendants and their relative obtained illicit profits totaling $37,700.

Simultaneously with the filing of the complaint, Michael Sherman and Scott Sherman, without admitting or denying the allegations contained in the complaint, consented to the entry of final judgments enjoining them from future violations of Section 17(a) of the Securities Act of 1933 and Section lO(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and ordering them to pay a total of $37,70000 in disgorgement plus $9,869.75 in prejudgment interest thereon and $31,35000 in civil penalties. [SEC v. Michael D. Sherman and Scott P. Sherman, 00 CV 3045, EDNY] (LR-16566)

INVESTMENT COMPANY ACT RELEASES

SEI INVESTMENTS MANAGEMENT CORPORATION, ET AL.

Errata have been issued for the purpose of correcting the file number that appears in a notice issued on April 28, 2000 (ReI. IC-24430) and an order issued on May 23, 2000 (ReI. IC-24463). (Rels. IC-24430A and 24463A - May 26)

EMPIRE LIFE DEFERRED VARIABLE ANNUITY ACCOUNT

An order has been issued under Section 8(f) of the Investment Company Act declaring that Life & Annuity Trust has ceased to be an investment company. (ReI IC-24479)

2 NEWS DIGEST, May 31, 2000

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NOTICES OF DEREGISTRA TIONS UNDER THE INVESTMENT COMPANY ACT

For the month of May, 2000, a notice has been issued giving interested persons until June 20, 2000, to request a hearing on any of the following applications for an order under Section 8(f) of the Investment Company Act declaring that the applicant has ceased to be an investment company:

SSgA International Liquidity Fund [File No. 811-7775] International Currency Fund [File No. 811-7773] MuniVest Florida Fund [File No. 811-7580J MuniVest New Jersey Fund, Inc. [File No. 811-7574J MuniYield New York Insured Fund II, Inc. [File No. 811-6661J MuniHoldings Michigan Insured Fund, Inc. [File No. 811-9125J MuniVest Michigan Insured Fund, Inc. [File No. 811-7578J MuniHoldings New Jersey Insured Fund II, Inc. [File No. 811-8971J MuniHoldings New Jersey Insured Fund ill, Inc. [File No. 811-9127J MuniVest Pennsylvania Insured Fund [File No. 811-7750J MuniHoldings Pennsylvania Insured Fund [File No. 811-9133J MuniHoldings California Insured Fund, Inc. [File No. 811-8213J MuniHoldings California Insured Fund ill, Inc. [File No. 811-8973J MuniHoldings California Insured Fund IV, Inc. [File No. 811-9113J MuniHoldings Florida Insured Fund II [File No. 811-8543] MuniHoldings Florida Insured Fund ill [File No. 811-8815J MuniHoldings Florida Insured Fund IV [File No. 811-9129J MuniHoldings New York Fund, Inc. [File No. 811-8575J MuniHoldings New York Insured Fund II, Inc. [File No. 811-8813J MuniHoldings New York Insured Fund ill, Inc. [File No. 811-9131J Davis Intermediate Investment Grade Bond Fund, Inc. [File No. 811-3007] Davis Tax-Free High Income Fund, Inc. [File No. 811-3270J HT Insight Funds, Inc. d/b/a/ Harris Insight Funds [File No. 811-5366J Morgan Stanley Dean Witter Precious Metals and Minerals Trust

[File No. 811-5988J Morgan Stanley Dean Witter Worldwide High Income Fund [File No. 811-8717] Discover Brokerage Index Series [File No. 811-9059J Morgan Stanley Dean Witter Managers Focus Fund (formerly Morgan Stanley

Dean Witter 20 + 20 Select Fund) [File No. 811-9077] Warburg, Pincus Emerging Markets II Fund, Inc. [File No. 811-8937] Warburg, Pincus Post-Venture Capital Fund, Inc. [File No. 811-7327] Warburg, Pincus Long-Short Equity Fund, Inc. [File No. 811-8929J Income Opportunities Fund 1999, Inc. [File No. 811-6716J Evergreen Diversified Bond Fund (formerly Keystone Diversified Bond Fund

(B-2» [File No. 811-93J Evergreen Intermediate Term Bond Fund (formerly Keystone Intermediate Term

Bond Fund) [File No. 811-4952J Evergreen Tax Free Fund (formerly Keystone Tax Free Fund) [File No. 811-2740]

NEWS DIGEST, May 31,2000 3

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Evergreen Tax Free Incame Fund (formerly Keystone Tax Free Income Fund) [File No. 811-4951]

Master Investment Trust, Series I [File No. 811-8086]Pacific Horizon Fands, Inc. {File No. 811-4293](ReI. IC-24480 - May 26)

SELF-REGULATORY ORGANIZATIONS

ACCELERA TED APPROVAL OF PROPOSED RULE CHANGE

The Commission granted accelerated approval to a proposed rule change submitted by the International Securities Exchange (SR-ISE-00-05) relating to authority to grant exemptions from ISE Rule 805. (Rei 34-42823)

APPROVAL OF PROPOSED RULE CHANGE

The Commission has approved a proposed rule change submitted by the International Securities Exchange (SR-ISE-00-04) relating to exposure of orders (ReI. 34-42825)

PROPOSED RULE CHANGES

The National Association of Securities Dealers, through its wholly owned subsidiary The Nasdaq Stock Market, Inc., has filed a proposed rule change (SR-NASD-00-16), which amends the minimum listing requirements for the inclusion and maintenance of funds in the Mutual Fund Quotation Service. Publication of the proposal is expected in the Federal Register during the week of May 28. (Rei 34-42831)

The National Association of Securities Dealers filed a proposed rule change (SR-NASD-00-30) to include UTP Exchanges in the Nasdaq National Market Execution Service Publication of the notice in the Federal Register is expected during the week of May 28. (ReI. 34-42847)

ORDER APPROVING PROPOSED AMENDMENT BY THE OM LONDON EXCHANGE LIMITED TO OPTIONS DISCLOSURE DOCUMENT

The Commission granted accelerated approval to an amendment (SR-ODD-00-02) by OM London Exchange Limited (OM London) to OM London's options disclosure document that reflects the introduction of OMXcap Index options Publication of the order is expected in the Federal Register during the week of May 28. (Rei 34-42832)

NEWS DIGEST, May 31,2000 4

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DELISTINGS GRANTED

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration GRC International, Inc, Common Stock, $ 10 par value. (ReI. 34-42836)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration American Precision Industries Inc, Common Stock, $ 66-2/3 par value. (ReI 34-42837)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration MYR Group Inc., Common Stock, $ 01 par value (ReI. 34-42838)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration Trigen Energy Corporation, Common Stock, $ 01 par value. (ReI 34-42839)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration Bristol Hotel & Resorts, Common Stock, $ 01 par value. (ReI. 34-42840)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration Jostens, Inc., Common Shares, $.33-113 par value (ReI 34-42841)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration Chic by HIS , Inc, Common Stock, $ 01 par value (ReI 34-42842)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration CHS Electronics, Inc, Common Stock, $ 001 par value. (ReI 34-42843)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration P.T Tri Polyta Indonesia, American Depositary Shares (each representing ten Common Shares). (ReI 34-42844)

An order has been issued granting the application of the New Yark Stock Exchange to strike from listing and registration Kaiser Group International, Inc, Common Stock, $ 01 par value. (ReI 34-42845)

An order has been issued granting the application of the New York Stock Exchange to strike from listing and registration Bell Industries, Inc., Common Stock. (ReI 34-42846)

NEWS DIGEST, May 31, 2000 5

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SECURITIES ACT REGISTRATIONS

The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (If available) ofille issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable), File number and date filed; Assigned Branch; and a designation if the statement is a New Issue

Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 FIfth Street, N.W., Washington, DC. 20549 or at the following e-mail box address: <[email protected]>. In most cases, this information is also available on the Commission's website <www.sec.gov>.

F-8 RIO ALTO EXPLORATION LTD, 205 FIFTH AVE SW, SUITE 2500, CALGARY ALBERTA CANADA T2P 2V7, AO 00000 - 273,047 ($3,735,282.96)FOREIGN COMMON STOCK. (FILE 333-11990 - MAY. 22) (BR. 4 - NEW ISSUE)

F-1 PRECISE SOFTWARE SOLUTIONS LTD, 1 HASHIKMA STREET POBOX 88, SAVYON ISREAL 56518~ - 4,887,500 ($78,200,000) FOREIGN COMMON STOCK. (FILE 333-11992 - MAY. 22) (BR. 3 - NEW ISSUE)

S-8 ALCATEL, 54 RUE LA BOETIE, 2288 BH, PARIS FRANCE 75008, 10 00000 (331) 407-6101 - 231809,735 ($601,100,007) FOREIGN COMMON STOCK. (FILE333-11996 - MAY. 23) (BR. 7)

S-8 PARTNERRE LTD, 106 PITTS BAY RD, BELVEDERE BLDG, PEMMBROKE PARISH BER,

DO (809) 292-0888 - 3,800,000 {$144,875,000) FOREIGN COMMON STOCK. (FILE

333-11998 - MAY. 23) (BR. 1)

F-6 SILVERLINE TECHNOLOGIES LTD /ADR/, 60 WALL ST, NEW YORK, NY 10260 (732) 457-0200 - 50,000,000 ($2,500,000)DEPOSITARY RECEIPTS FOR COMMON STOCK. (FILE 333-12000 - MAY. 22) (BR.

99 - NEW ISSUE)

F-6 REDIFF COM INDIA LTD /ADR/, 111 WALL ST, NEW YORK, NY 10043 -100,000,000 ($5,000,000) DEPOSITARY RECEIPTS FOR COMMON STOCK. (FILE333-12002 - MAY. 23) (BR. 99 - NEW ISSUE)

S-8 AUDIOMONSTER ONLINE INC, 200 1311 HOWE ST, VANCOUVER B C CANADA, A1 (702) 866-2500 - 2,000,000 ($20,000) COMMON STOCK. (FILE 333-37686 -MAY. 24) (BR. 4)

S-8 APPNET INC /DE/, 6707 DEMOCRACY BLVD, STE 1000, BETHESDA, MD 20817 (301) 581-2488 - 6,055,000 ($128,101,094) COMMON STOCK. (FILE 333-

37692 -MAY. 24) (BR. 8)

NEWS DIGEST, May 31,2000 6

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S-8 ARCHER DANIELS MIDLAND CO, 4666 FARIES PKWY, DECATUR, IL 62526 (217) 424-4798 - 9,000,000 ($95,905,800) COMMON STOCK. (FILE 333-37694

MAY. 24) (BR. 4)

S-4 ISONICS CORP, 5906 MCINTYRE STREET, GOLDEN, CO 80403 (303) 279-7900

2,670,000 ($20,292,000) COMMON STOCK. (FILE 333-37696 - MAY. 24) (BR.9)

S-8 PHOTOWORKS INC IWA, 1260 16TH AVE WEST, SEATTLE, WA 98119 (206) 281-1390

- 800,000 ($2,700,000) COMMON STOCK. (FILE 333-37698 - MAY. 24) (BR.2)

S-8 GAIAM INC, 360 INTERLOCKEN BLVD #300, BROOMFIELD, CO 80021 -2,100,000

($34,125,000) COMMON STOCK. (FILE 333-37700 - MAY. 24) (BR. 8)

S-8 REUNION INDUSTRIES INC, 300 WEYMAN PLAZA, SUITE 340, PITTSBURGH, PA 15236 (203) 324-8858 - 600,000 ($825,000) COMMON STOCK. (FILE 333-

37702 -MAY. 24) (BR. 6)

S-8 ARROW ELECTRONICS INC, 25 HUB DR, MELVILLE, NY 11747 (516) 391-1300

500,000 ($18,450,000) COMMON STOCK. (FILE 333-37704 - MAY. 24) (BR. 5)

S-8 VI TRIA TECHNOLOGY INC, 945 STEWART DR, SUNNYVALE, CA 94086 (650) 237-69.00 - 8,027,628 ($287,489,428) COMMON STOCK. (FILE 333-

37706 -MAY. 24) (BR. 3)

S-8 HARBINGER CORP, 1277 LENOX PK BLVD, ATLANTA, GA 30319 (404) 841-4334

1,450,000 ($19,227,000) COMMON STOCK. (FILE 333-37708 - MAY. 24) (BR.3)

S-8 E COMMERCE WEST CORP, 152 SHERMAN ST, DEADWOOD, SD 57732 (605) 578-1299

- 750,000 ($855,000) COMMON STOCK. (FILE 333-377l0 - MAY. 24) (BR. 5)

S-4 VOICESTREAM WIRELESS CORP IDE, 3650 131ST AVENUE SE, SUITE 400,BELLEVUE, WA 98006 (425) 650-4600 - 500,000,000 ($500,000,000)STRAIGHT BONDS. (FILE 333-377l2 - MAY. 24) (BR. 7)

S-3 WEBSTER FINANCIAL CORP, WEBSTER PLAZA, 145 BANK ST, WATERBURY, CT 06720

(203) 753-2921 - 44,901 ($986,475) COMMON STOCK. (FILE 333-37714 -MAY. 24) (BR. 7)

S-8 KRAUSES FURNITURE INC, 200 N BERRY ST, STE 109, BREA, CA 92821 (714) 990-3100 - 2,500,000 ($3,671,875) COMMON STOCK. (FILE 333-37716

MAY. 24) (BR. 6)

7 NEWS DIGEST, May 31,2000

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S-4 FULTON FINANCIAL CORP, ONE PENN SQ, PO BOX 4887, LANCASTER, PA 17604 (717) 291-2411 - 2,325,206 ($37,784,598) COMMON STOCK. (FILE 333-37718

MAY. 24) (BR. 7)

S-3 CONSOLIDATED PRODUCTS INC IIN/, 500 CENTURY BLDG, 36 S PENNSYLVANIA ST,

INDIANAPOLIS, IN 46236 (317) 633-4100 - 125,133 ($1,181,256) COMMON STOCK.

(FILE 333-37720 - MAY. 24) (BR. 5)

S-8 GREATER BAY BANCORP, 2860 WEST BAYSHORE ROAD, PALO ALTO, CA 94303 (415) 375-1555 - 2,500,000 ($116,718,750) COMMON STOCK. (FILE 333-

37722 -MAY. 24) (BR. 7)

S-8 SPECTRA PHYSICS LASERS INC, 1335 TERRA BELLA AVENUE, BUILDING 7, MOUNTAIN VIEW, CA 94043 (650) 961-2550 - 3,000,000 ($125,062,500)COMMON STOCK. (FILE 333-37724 - MAY. 24) (BR. 5)

SB-2 BANCTENN CORP, 301 E CTR ST, POBOX 566, KINGSPORT, TN 37662 (423) 378-95"00 - 428,571 ($12,000,000) COMMON STOCK. (FILE 333-37726 -MAY. 24) (BR. 7)

S-8 RETEK INC, 801 NICOLLET MALL, MINNEAPOLIS, MN 55402 - 2,000,000($35,666,172.24) COMMON STOCK. (FILE 333-37730 - MAY. 24) (BR. 3)

S-8 QUOKKA SPORTS INC, 525 BRANNAN STREET, GROUND FLOOR, SAN FRANCISCO, CA

94107 (415) 908-3800 - 334,723 ($2,858,746.84) COMMON STOCK. (FILE333-37732 - MAY. 24) (BR. 5)

S-8 COASTAL CORP, COASTAL TWR, NINE GREENWAY PLZ, HOUSTON, TX 77046 (713) 877-1400 - 4,000,000 ($80,353,620) COMMON STOCK. (FILE 333-37734

MAY. 24) (BR. 2)

S-8 PROXICOM INC, 11600 SUNRISE VALLEY DR, RESTON, VA 20191 (703) 262-3200

- 43,558 ($1,477,052) COMMON STOCK. (FILE 333-37736 - MAY. 24) (BR. 3)

S-3 PROXICOM INC, 11600 SUNRISE VALLEY DR, RESTON, VA 20191 (703) 262-3200

- 500,000 ($16,955,000) COMMON STOCK. (FILE 333-37738 - MAY. 24) (BR.3)

S-8 ALCOA INC, 201 ISABELLA ST, ALCOA CORPORATE CTR, PITTSBURGH, PA 15212

(412) 553-2576 - 692,400 ($43,491,375) COMMON STOCK. (FILE 333-37740 -MAY. 24) (BR. 6)

S-l PERSONIFY INC, 425 BATTERY STREET, SUITE 450B, SAN FRANCISCO, CA 94111

(415) 782-2050 - $50,000,000 COMMON STOCK. (FILE 333-37744 - MAY. 24)

NEWS DIGEST, May 31,2000 8

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S-3 IMCLONE SYSTEMS INC/DE, 180 VARICK ST, NEW YORK, NY 10014 (212) 645-1405

- 240,000,000 ($240,000,000) STRAIGHT BONDS. (FILE 333-37746 - MAY. 24)

(BR. 1)

S-8 NETWORK SOLUTIONS INC /DE/, 505 HUNTMAR PARK DR, HERNDON, VA 20170 (703) 742-0400 - 4,677,917 ($588,832,802) COMMON STOCK. (FILE 333-

37748 -MAY. 24) (BR. 3)

S-4 WORLD ACCESS INC /NEW/, 945 EAST PACES FERRY ROAD, SUITE 2200, ATLANTA,

GA 30326 (404) 231-2025 - 52,743,849 ($324,355,313.64) COMMON STOCK. (FILE 333-37750 - MAY. 24) (BR. 7)

SB-2 BELLACASA PRODUCTIONS INC, UNIVERSAL STUDIOS, 100 UNIVERSAL CITY PLAZA BLDG 423, UNIVERSAL CITY, CA 91608 (818) 733-

1467 - 2,400,000 ($17,400,000) COMMON STOCK. (FILE 333-37752 - MAY. 24)(NEW ISSUE)

S-8 ZIASUN TECHNOLOGIES INC, 462 STEVENS AVENUE, SUITE 106, SOLANA BEACH, CA

92075 (619) 350-4060 - 2,500,000 ($16,875,000) COMMON STOCK. (FILE333-37754 - MAY. 24) (BR. 9)

S-8 COVALENT GROUP INC, ONE GLENHARDIE CORPORATE CENTER, 1275 DRUMMERS LANE STE 100, WAYNE, PA 19087 (610) 975-9533 - 2,500,000 ($10,781,250) COMMON STOCK. (FILE 333-37756 - MAY. 24) (BR. 5)

S-8 VENTANA MEDICAL SYSTEMS INC, 3865 N BUSINESS CENTER DRIVE, TUCSON, AZ

85705 (520) 887-2155 - 1,675,000 ($44,806,250) COMMON STOCK. (FILE333-37758 - MAY. 24) (BR. 5)

SB-2 PCSUPPORT COM INC, 4400 DOMINION ST #280, BURNABY BRITISH COLUMBIA, V5G 4G3, (604) 419-4490 - 7,291,331 ($22,101,847) COMMON STOCK. (FILE333-37760 - MAY. 24) (BR. 9)

S-4 RMI NET INC, 999 18TH STREET, STE 2201, DENVER, CO 80202 (303) 672-0700

- 4,000,000 ($13,375,000) COMMON STOCK. (FILE 333-37762 - MAY. 24)(BR. 3)

S-8 COMMERCE BANCORP INC /NJ/, COMMERCE ATRIUM, 1701 RTE 70 E, CHERRY HILL,

NJ 08034 (609) 751-9000 - 250,000 ($10,656,250) COMMON STOCK. (FILEj33-37764 - MAY. 24) (BR. 7)

S-3 ANHEUSER BUSCH COMPANIES INC, ONE BUSCH PL,C/O OFFICE OF THE VP & SEC'Y, ST LOUIS, MO 63118 (314) 577-2000 -$510,000,000 STRAIGHT BONDS. (FILE 333-37766 - MAY. 24) (BR. 2)

NEWS DIGEST, May 31,2000 9

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S-l EBASEONE CORF, 6060 RICHMOND, SUITE 190, HOUSTON, TX 77057 (7131 975-87.00 - 7,19Br502 ($9,448,034) COMMON STOCK. (FILE 333-37768

MAY. 24) (BR. 3)

S-3 IGATE CAPITAL COREr 1004 MCKEE RD, OAKDALE, PA 15071 (412) 787-2100

150r943 ($2r581l,B99) COMMON STOCK. (FILE 333-37770 - MAY. 24) (BR. 3)

S-l BE FREE INC. 154 CRANE MEADOW RD SUITE 100, MARLBOROUGH, MA 01752 (508) 357-8888 - 1,83'8,278 ($18,612,565) COMMON STOCK. (FILE 333-37776

MAY. 25) (BR. 3)

RECENT 8K FILINGS

Form 8-K is used by companies to file current reports on the following events.

Item 1. Changes in Control of Registrant.Item 2. Acquisition or Disposition of Assets.Item 3. Bankruptcy or Receivership.Item 4. Changes in Registrant's Certifying Accountant.Item 5. Other Materially Important Events.Item 6. Resignations of Registrant's Directors.Item 7 Financial Statements and Exhibits.Item 8 Change in Fiscal Year.Item 9. Regulation S Offerings

The following companies have filed 8-K reports for the date indicated and/or amendments to 8-K reportspreviously filed, responding to the item(s)-ofthe form specified. 8-K reports may be obtained in personor by writing to the Comnussion's Public Reference Branch at 450 Fifth Street, N.W., Washington, D C20549 or at the following e-mail boxaddress:<publicinfo@secgov>.Inmostcases.this information isalso available on the Commission's website. <www.sec.gov>.

STATE 8K ITEM NO. NAME OF ISSUER CODE 1 2 3 4 5 6 7 8 9 DATE COMMENT

ABLE TELCOM HOLDING CORP ABLEST INC ADPADS INC ADPADS INC ALL STAR GAS CORP ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST DR I ALLEN TEST INC NEW NAME 1

FL DE CO CO MO

IN

X X X X X X X X X X X

X X

X

X X X X

07/02/9803/13/00OS/26/00OS/26/0005/30/0003/01/0003/01/00OS/27/00OS/27/00OS/27/00OS/27/00OS/27/00OS/27/00OS/27/00OS/27/0003/01/99

AMEND AMEND

AMEND

10 NEWS DIGEST, May 31,2000

Page 11: J SEC NEWS DIGEST · j ' sec news digest issue 2000-103 may 31, 2000 enforcement froceedings ... complaint charges michael sherman and scott sherman with fraud

STATE 8K ITEM NO.NAME OF ISSUER CODE 1 2 3 4 5 6 7 8 9 DATE COMMENT

ALLEN TEST INC NEW NAME 1 ALLEN TEST INC NEW NAME 1 ALLEN TEST INC NEW NAME 1 ALLEN TEST INC NEW NAME 1 ALLEN TEST INC NEW NAME 1 ALLEN TEST INC NEW NAME 1 ALLNETSERVICES COM CORP AMRESCO INC ANTHRACITE CAPITAL INC ANTIGUA FUNDING CORP ANTIGUA FUNDING CORP BOOTS & COOTS INTERNATIONAL WELL CO

NTROL INC CALIFORNIA SOFTWARE CORP CENTRAL AMERICA FUEL TECHNOLOGY INC CENTURY BANCSHARES INC CHS ELECTRONICS INC CLEVELAND CLIFFS INC COCHSTEDT INTERNATIONAL AIRPORT INC COMMUNITY BANCSHARES INC /DE/ CONSECO FINANCE CORP CONSECO FINANCE SECURITIZATIONS COR

P

CORNING NATURAL GAS CORP CORPORATE BOND BACKED CERT TRUST SE

RIES 1996-DHC-1 CWABS INC CWMBS INC CYPOST CORP EPIPHANY INC E VEGAS COM INC ECLIPSYS CORP ECLIPSYS CORP ENVIROMETRICS INC /DE/ ENVISION DEVELOPMENT CORP /FL/ FAMOUS INTERNET MALL INC FIRST ALLIANCE CORP /DE/ FIRST ALLIANCE CORP /DE/ FIRST HORIZON ASSET SECURITIES INC FIRST MIDWEST FINANCIAL INC FIRST NATIONAL COMMUNITY BANCORP IN

C

FIRST OF AMERICA CRED CAR MA TRU FL RA AS BAC CE SER 1995-1

FIRST SENTINEL BANCORP INC GREEN MACHINE DEVE"LOPMENTCORP GREG MANNING AUCTIONS INC H QUOTIENT INC HUTTON ~SH COMMERCIAL PROPERTIES 2 IKON RECEIVABLES LLC INFINITY BROADCASTING CORP /DE/ INTERPLAY ENTERTAINMENT CORP ISA INTERNATIONALE INC

IN IN IN IN IN IN FL DE MD DE DE DE

NV

DE FL OH NV DE DE DE

NY

DE DE DE DE NV DE DE DE FL

DE DE DE DE PA

D8 FL NY VA VA DE DE DE DE

x x x x

x x

x x x x x x x x x x x

x x x

x x x

x x x x x x x x x x x x

x x x

x x x

x x x

x x x x x

x x x x

x x x x x

x x

x

x x x

x x

x x x

x x x x x x

03/01/9912/31/9912/31/9912/31/99OS/26/00OS/2U/0005/30/00 AMEND03/17/0005/15/0005/08/0005/08/00OS/25/00

05/16/00 AMEND03/31/0005/30/0005/10/00OS/24/0005/16/0005/11/00 AMENDOS/24/00OS/24/00

04/13/99 AMEND12/01/99

05/30/0005/30/00OS/26/0005/01/0003/31/00OS/24/0005/30/0005/30/0005/16/0003/02/00 AMENDOS/22/0005/30/0004/28/00OS/22/0005/17/00

05/15/00

OS/23/0006/17/9905/15/0005/05/0005/19/00OS/22/00OS/24/00OS/26/0005/19/00

11 NEWS DIGEST, May 31,2000

Page 12: J SEC NEWS DIGEST · j ' sec news digest issue 2000-103 may 31, 2000 enforcement froceedings ... complaint charges michael sherman and scott sherman with fraud

NAME OF ISSUER

IVC INDUSTRIES INC JENKON INTERNATIONAL INC KEYSTONE FINANCIAL INC LARGO ~ GROUP LTD LEE SARA CORP LIL MARC INC MARKETING SPECIALISTS CORP MERCHANTONLINE COM INC MORGAN STANLEY AIRCRAFT FINANCE MULTI LINK TELECOMMUNICATIONS INC NAVISTAR FINANCIAL RE~L RECEIVABL

ES CORPORATION NAVISTAR FINANCIAL SECURITIES CORP NCT FUNDING CO LLC NETRIX CORP NIAGARA MOHAWK POWER CORP /NY/NOBEL LEARNING COMMUNITIES INC NTL INC/DE/ONE WORLD ONLTNE COM INC ONEOK INC /NEW/ORANGE & ROCKLAND UTILITIES INC OREGON TRAIL FINANCIAL CORP PAYFORVIEW COM CORP /NV/PNC MORTGAGE ACCEPTANCE CORP POLYMER GROUP INC REALTY PARKING PROPERTIES II LP SATX INC SCIENTIFIC TECHNOLOGIES INC SPORT SUPPLY GROUP INC STANLEY WORKS SUMMIT PROPERTIES INC SUMMIT PROPERTIES PARTNERSHIP L P SUMMIT TECHNOLOGY INC SYSTEM SOFTWARE ASSOCIATES INC TELTRAN INTERNATIONAL GROUP LTD TOTAL RESEARCH CORP TOUPS TECHNOLOGY LICENSING INC /FLTRANSMEDIA EUROPE INC UBRANDIT COM UMEMBER COM INC /CO/US AIRWAYS GROUP INC US AIRWAYS INC VALERO ENERGY CORP/TXVANCOUVERS FINEST COFFEE CO VIALOG CORP VPN COMMUNICATIONS CORP WATSON PHARMACEUTICALS INC WATTAGE MONITOR INC WORLDCORP INC WPS RESOURCES CORP 2DOBIZ COM INCICES INC

12 NEWS DIGEST, May 31, 2000

S~ BK ITEM NO.CODE 1 2 3 4 5 6 7 8 9 DATE COMMENT

DE x 05/30/00DE x x 04/30/00FA x 05/30/00NV x x 03/16/00MD x 05/30/00NV x OS/25/00DE x x 05/19/00FL x x 05/15/00DE x 05/30/00CO x x 05/30/00DE x x 05/15/00

DE x x OS/25/00DE x 05/18/00DE x x 03/16/00 AMEND NY x x 05/30/00DE x x 05/16/00DE x x 05/30/00NV x x x 05/19/00OK x 05/30/00NY x OS/25/00OR x x OS/25/00NV x x OS/26/00MO x x OS/25/00DE x OS/23/00DE x 05/15/00

x x OS/23/00OR x x 05/30/00 AMEND DE x OS/26/00CT x x OS/26/00MD x x OS/23/00DE x x OS/23/00MA x 02/26/00DE x OS/26/00DE x 05/30/00 AMEND DE x 05/30/00FL x x 05/15/00DE x x 06/15/99 AMEND NV x 05/30/00CO x 03/16/00 AMEND DE x x OS/23/00DE x x OS/23/00DE x x 05/15/00NV x x x x x 05/30/00MA x OS/24/00NV x x OS/24/00NV x x OS/24/00

x OS/23/00DE x 05/30/00WI x 05/30/00NV x 04/20/00 AMEND