In re Seascapes Beach Club and Spa, Inc.

October 10, 2007 SEC-CFD ORDER NO. 161-07 IN THE MATTER OF SEASCAPES BEACH CLUB AND SPA, INC. ORDER Records of the Commission show that despite due notice and hearing, SEASCAPES BEACH CLUB AND SPA, INC. has continuously failed to comply with the following condition set forth in the September 7, 2006 Order of Registration issued in favor of said company: "1. That it shall 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. within ninety (90) days from date hereof." The Commission, therefore, in its meeting held last October 4, resolved to deny the company's request for extension of five (5) months from July 20, 2007 or until December 20, 2007 within which to submit said title and to suspend the effectivity of the company's Registration of Securities and Permit to Sell Securities to the Public. IN VIEW OF THE FOREGOING, and considering the lapse of sufficient time for the company to comply with the directive of the Commission, the Registration Statement and Certificate of Permit to Sell Securities to the Public issued in favor of SEASCAPES BEACH CLUB AND SPA, INC. are hereby SUSPENDED for a period of SIXTY (60) DAYS from receipt hereof, or until such time that the company is able to submit the Transfer Certificate of Title in the name of the Club, whichever comes first. Failure to submit the required Transfer Certificate of Title within the given period shall be sufficient cause for the Commission to proceed with the revocation of its Registration of Securities without need for further notice and hearing, which shall include an order to refund in full the investments paid by the investors within ten (10) days from publication of the notice of revocation by the Commission in accordance with SRC Rule 13 (1) (A). aEIcHA SO ORDERED. October 10, 2007, Mandaluyong City. (SGD.) JUSTINA F. CALLANGAN Director