Carson City company settles with SEC
October 2, 2006
U.S. Global Nanospace Inc., a Carson City company, said last week it signed a consent agreement with the Securities and Exchange Commission, settling a potential SEC civil action.
Without admitting or denying SEC allegations, U.S. Global Nanospace agreed to an injunction against violation of securities registration laws.
The company noted in a press release that the agreement didn’t concern antifraud provisions of the federal law, and the SEC didn’t levy financial penalties against U.S. Global Nanospace.
The agreement also didn’t cover John Robinson, the company’s former chairman and owner of 30 percent of its stock, or Julie Seaman, a director of the company and its former chief financial officer.
The SEC in January said it planned to bring a civil case against the company, Robinson and Seaman for public statements about the marketability of its products.
U.S. Global is developing security products for military and other applications.