In the Matter of United Franchise Managers Corp.

January 9, 2009 SEC CRMD CASE NO. 08-10-0006 IN THE MATTER OF UNITED FRANCHISE MANAGERS (UFMC) CORPORATION SEC REGISTRATION NO. A200017044 FOR : Setting Aside Order of Revocation of Certificate of Registration O R D E R Petitioner, UNITED FRANCHISE MANAGERS (UFMC) CORPORATION, is a stock corporation registered with the Commission on November 10, 2000 under SEC Registration No. A200017044, with business address at 2/F Rublou Business Center, Ortigas Ave. Ext., Cainta, Rizal, engaged in the business of providing services to franchise dealers as authorized service contractor of Avon Cosmetics, Inc., as stated in its Articles of Incorporation. HDIATS On August 02, 2006, its Certificate of Registration was revoked by virtue of SEC Order dated June 27, 2006 which was published on July 03, 2006 in the Philippine Star, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated June 27, 2006, on the following grounds: 1. that Petitioner employs personnel who depend on its operation as a source of their income, and is serving around 100 sales dealers in the Rizal Province area; 2. it has no intention to violate the laws or SEC rules and regulations; and 3. it shall henceforth submit the required reports to the Commission religiously. In support of its Petition, Petitioner submitted the following documents: 1 1. Directors' Certificate dated August 18, 2008, certifying that at the special meeting of stockholders and directors held on June 25, 2008 at 42 2/F Rublou Business Center, Ortigas Ave. Ext., Junction, Cainta, Rizal at which a quorum was present, the resolution allowing the filing of Petition to Set Aside the Order of Revocation was unanimously approved; 2. Photocopies of 2000 to 2008 Mayor's Permit, Municipality of Cainta, Rizal; 3. Photocopy of Barangay Clearance dated January 03, 2001, Barangay Sto. Domingo, Cainta, Rizal; and 4. Photocopy of Certificate of Registration dated November 22, 2000, Bureau of Internal Revenue. Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. On October 14, 2008, the Petitioner paid the fine of PhP63,416.98 2 under O.R. No. 0219779, for non-filing of the following, on the years indicated hereunder: REQUIREMENTS NOT FILED FILED LATE General Information Sheet 2001-2007 Financial Statements 2001-2006 WHEREFORE, finding the submitted documents sufficient to establish that Petitioner is operating since its incorporation in 2000, and its intent to continue as a juridical entity, the Order of the Commission dated June 27, 2006, revoking the Certificate of Registration of UNITED FRANCHISE MANAGERS (UFMC) CORPORATION, is hereby SET ASIDE. AEDHST SO ORDERED. Mandaluyong City, January 9, 2009. (SGD.) BENITO A. CATARAN Director Footnotes 1. Photocopies are faithful reproductions of the originals of the documents. 2. Includes fines for violation of Section 43 of the Corporation Code of the Philippines by retaining surplus profits in excess of one hundred (100%) percent of the paid in capital stock.