In the Matter of Inteltech Systems Corp.

April 4, 2014 SEC CRMD IN THE MATTER OF INTELTECH SYSTEMS CORP. SEC Registration No. 200100584 FOR : Revocation of the Certificate of Registration for Violation of the CorporationCode and SECRules and Regulationson Reportorial Requirements ORDER WHEREAS, the records of this Commission show that INTELTECH SYSTEMS CORP. ("subject corporation" for brevity) , registered with the Commission on July 4, 2001 under SEC Registration No. 200100584, failed to submit the following reports within the prescribed period as required by the Corporation Code and SEC rules and regulations on reportorial requirements: Requirements Not Filed Filed Late General Information Sheet 2002-2013 - Financial Statements 2002-2012 - WHEREAS, Section 141 of the Corporation Code mandates every corporation to annually submit their reports to the Commission, such as General Information Sheet and the Financial Statements, thus: "Every corporation, domestic or foreign, lawfully doing business in the Philippines shall submit to the Securities and Exchange Commission an annual report of its operations, together with a financial statement of its assets and liabilities, certified by any independent certified public accountant in appropriate cases, covering the preceding fiscal year and such other requirements as the Securities and Exchange Commission may require. Such report shall be submitted within such period as may be prescribed by the Securities and Exchange Commission." WHEREAS, non-submission of reports for at least five (5) consecutive years may also be construed as continuous inoperation of the corporation; WHEREAS, Section 22 of the Code provides that inoperation of a corporation for at least five (5) consecutive years is a ground for revocation of its certificate of registration, to wit: "If a corporation does not formally organize and commence the transaction of its business or the construction of its works within two (2) years from the date of its incorporation, its corporate powers cease and the corporation shall be deemed dissolved. However, if a corporation has commenced the transaction of its business but subsequently becomes continuously inoperative for a period of at least five (5) years, the same shall be a ground for the suspension or revocation of its corporate franchise or certificate of incorporation. This provision shall not apply if the failure to organize, commence the transaction of its businesses or the construction of its works, or to continuously operate is due to causes beyond the control of the corporation as may be determined by the Securities and Exchange Commission." CAaSED WHEREAS, the Commission sent a notice of conference to the last known address of subject corporation at Suite 3, Osmea Bldg., Pelaez St., Cebu City, directing the same to show cause why it should not be penalized for non-compliance with reportorial requirements with the conference scheduled on February 12, 2014; WHEREAS, on March 3, 2014, the Commission received the Affidavit of Service of Ms. Larisa H. Polinar, process server of SEC Cebu Extension Office, attesting under oath that despite utmost efforts, the notice of conference to subject corporation was returned un-served with a statement from the head guard of the building of the reported address that they don't have a tenant with a name similar to the former; WHEREAS, Section 5 (m) of Republic Act No. 8799, also known as the Securities Regulation Code, and Section 6 (l) of Presidential Decree No. 902-A, as amended, vest the Commission with the authority to revoke, after proper notice and hearing, the Certificate of Registration of corporations upon any of the grounds provided by law including the following: (4) Continuous inoperation for a period of at least five (5) years; and (6) Failure to file required reports in appropriate forms as determined by the Commission within the prescribed period. WHEREAS, considering the continuous failure of the corporation to operate and to file the required reports, this Commission finds sufficient grounds to revoke its Certificate of Registration. The same is bolstered by the fact that subject corporation is no longer doing business in its reported address; WHEREFORE, the Certificate of Registration of INTELTECH SYSTEMS CORP., registered with the Commission on July 4, 2001 under SEC Registration No. 200100584, is hereby REVOKED for continuous inoperation for at least five (5) consecutive years and for violation of Section 141 of the Corporation Code and SEC Rules and Regulations on Reportorial Requirements. Accordingly, let a copy of this Order be attached to the records of the corporation on file with the Commission and the "revoked" status be entered in the Commission's database. SO ORDERED. Mandaluyong City, Philippines. April 4, 2014. (SGD.) FERDINAND B. SALES Acting Director Company Registration and Monitoring Department Securities and Exchange Commission