In re Seascapes Beach Club and Spa, Inc.

January 29, 2008 SEC-CFD ORDER NO. 009-08 IN THE MATTER OF SEASCAPES BEACH CLUB AND SPA, INC. O R D E R Before this Commission is the failure of SEASCAPES BEACH CLUB AND SPA, INC. to comply with the following directive contained in the Suspension Order dated October 10, 2007: "To submit to this Commission the title of the land on which the Club is located in the name of the Seascapes Beach Club and Spa, Inc." In the same Order, the Company was warned that its failure to submit the required Transfer Certificate of Title within the sixty (60)-day suspension period shall be a sufficient cause for the Commission to proceed with the revocation of its Registration of Securities and Permit to Sell Securities to the Public without need for further notice and hearing. Considering that the Order of Suspension was personally received by the company's representative on October 16, 2007, the 60-day period stated in the Order of Suspension ended on December 15, 2007. To date, the company has not yet submitted the required title of the property. In its meeting held on January 24, 2008, the Commission en banc resolved to revoke the company's registration of securities. WHEREFORE, the Registration Statement and Certificate of Permit to Sell Securities to the Public issued in favor of SEASCAPES BEACH CLUB AND SPA, INC. is hereby REVOKED. Accordingly, the Company is prohibited from selling/offering for sale its securities to the public. However, the Company shall continue to be covered by the applicable regulations and reportorial requirements of the Securities Regulation Code (SRC), pursuant to the policy adopted by the Commission per SEC Resolution No. 274, Series of 2007. Let a copy of this Order be published in a newspaper of general circulation in the Philippines at the expense of the company and/or in the official website of the Commission. SO ORDERED. Signed this 24th day of January 2008, Mandaluyong City. For the Commission: (SGD.) JUSTINA F. CALLANGAN Director