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MEET STUART BLOCKER ACCESSTEL INC LARGEST SHAREHOLDER
UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7956 / February 28, 2001
File No. 3-10433
In the Matter of
Stuart Bockler and
ORDER INSTITUTING PUBLIC
PROCEEDINGS PURSUANT TO
SECTION 8A OF THE SECURITIES
ACT OF 1933, MAKING FINDINGS,
AND IMPOSING A CEASE-AND-
The Securities and Exchange Commission ("Commission") deems it appropriate that public cease-and-desist proceedings against Stuart Bockler ("Bockler") and Imcadvisors, Inc.(collectively "Respondents"), be initiated, pursuant to Section 8A of the Securities Act of 1933 ("Securities Act").
In anticipation of the institution of these proceedings, Respondents have submitted an Offer of Settlement ("Offer"), which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission or in which the Commission is a party, and without admitting or denying the findings set forth herein, except that Respondents admit the Commission's jurisdiction over them and over the subject matter of these proceedings, Respondents have consented to the entry of this Order Instituting Public Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing a Cease-and-Desist Order ("Order") and to the entry of the cease-and-desist order set forth below.
On the basis of this Order and the Offer submitted by Respondents, the Commission finds that:
A. Bockler, age 48 and a resident of Morganville, New Jersey, is the president of Imcadvisors, Inc. and at all times relevant herein operated and controlled Imcadvisors, Inc.
B. Imcadvisors, Inc. (f/k/a/ International Market Call, Inc.) is in the business of producing and distributing investment analysis reports to institutional investors and the investing public. Starting in approximately 1999, Imcadvisors, Inc., started to distribute its investment analysis reports on the Internet and to operate an Internet website located at www.imcadvisors.com.
C. From September 30, 1999, through October 8, 1999, Respondents violated Section 17(b) of the Securities Act in that, by use of the means or instruments of transportation or communication in interstate commerce or by use of the mails, Respondents published, gave publicity to, or circulated notices, circulars, advertisements, newspapers, articles, letters, investment services, or communications which, though not purporting to offer a security for sale, described such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof.
D. As part of and in furtherance of the conduct described above, Respondents:
1. Caused to be published and distributed on the Internet an investment analysis report entitled "British E-Commerce, B2B or Not B2B, That's the Question?," which described and recommended the purchase of the common stock of an issuer, Internet Solutions for Business ("ISFB"), whose common stock was quoted at the time on the Over-The-Counter Bulletin Board;
2. Caused to be published and distributed on the Internet an investment analysis report entitled "Europe focus on boom in Business to Business, B2B or Not B2B, That is the Question?," which described and recommended the purchase of the common stock of ISFB;
3. Received, directly or indirectly, from ISFB, a payment of 12,500 shares of common stock of ISFB as reimbursement for the publication and distribution of the investment analysis reports described above; and
4. Failed to fully disclose the nature and amount of compensation received from ISFB for publication and distribution of the ISFB investment analysis reports.
In view of the foregoing, the Commission finds that it is appropriate to impose the sanctions specified in the Offer.
Accordingly, IT IS HEREBY ORDERED, pursuant to Section 8A of the Securities Act, that Respondents, Stuart Bockler and Imcadvisors, Inc., cease-and-desist from committing or causing any violation and any future violation of Section 17(b) of the Securities Act.
By the Commission.
Jonathan G. Katz
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