Securities Exchange Commission of the United States of America
ORDER: January 9, 2018
MAKING FINDINGS, SPECIFYING PROCEDURES, AND TEMPORARILY SUSPENDING EXEMPTION PURSUANT TO SECTION 3(b) OF THE SECURITIES ACT OF 1933 AND REGULATION A THEREUNDER
Punch TV Studios will suspend offering stocks to the general public under Regulation A of the Securities of 1993 for a period of nine (9) months due to:
- 1. Punch TV’s Failure to File Audited Financial Statements
- 2. Punch TV’s False and Misleading Representations
- 3. Punch TV’s Failures to File Timely Periodic Reports
- a. Failure to file a timely special financial report*
- b. Failure to file a timely annual report*
- c. Failure to file a timely semiannual report*
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- *In violation of 17 C.F.R. §§ 230.251(d)(3)(i)(F) & 230.257(b) current annual and semiannual reports..
During the nine (9) months suspension period Punch TV shall comply with the applicable provisions of Regulation A that require it to file an annual report on Form 1-K with the Commission on or before December 29, 2017, a semiannual report on Form 1-SA with the Commission on or before May 29, 2018, and any current report on Form 1-U with the Commission, and Punch TV shall file a current report on Form 1-U that attaches a copy of this Order that has been issued by the Commission;
Upon completion of the nine (9) month suspension period Punch TV may continue to offer and sell securities under Regulation A pursuant to the Offering Statement previously qualified by the Division of Corporation Finance on April 5, 2016 only if, before doing so, it files a post-qualification amendment (“PQA”) with the Commission, that PQA is qualified by the Division of Corporation Finance, and Punch TV complies with all applicable Regulation A requirements;