OCR Text |
Show Prosper Oil & Mining Suspended by S E C An order temporarily sus pending Prosper Oil & Mining Co. has been issued by the Securities and Exchange Commission. Com-mission. The order alleges failure to comply with certain requirements require-ments of Regulation A, including includ-ing failure to disclose sale of unregistered shares within one year by or for the account of persons who were then officers or promoters or an underwriter; under-writer; that their offering circular cir-cular was false and misleading with respect to certain material mater-ial ' facts: failure to disclose adequately particulars concerning concer-ning recurring operating losses and the fact that the company's assets on Jan. 31, 1962, were $10,772, as compared with current cur-rent liabilities of $65,196; failure fail-ure to disclose that no body of commercial ore is known to exist on the properties. |