In the Matter of Humanitarian Outreach Development Mission, Inc.
SEC CRMD (Order) • Securities and Exchange Commission Departments • Company Registration and Monitoring Department (CRMD) • Jun 11, 2014
Full text
June 11, 2014 SEC CRMD IN THE MATTER OF HUMANITARIAN OUTREACH DEVELOPMENT MISSION, INC. SEC Registration No. CN200704998 FOR : Revocation of Certificate of Incorporation for Violation of the CorporationCodeof the Philippines and the SECRules andRegulations on Reportorial Requirements ORDER WHEREAS, the records of this Commission show that HUMANITARIAN OUTREACH DEVELOPMENT MISSION, INC., (hereafter referred to as the "corporation"), registered with the Commission on 30 March 2007 under SEC Registration No. CN200704998, failed to submit the following as required by the Corporation Code of the Philippines and the SEC rules and regulations on reportorial requirements: Requirements Not Filed General Information Sheet 2008-2013 Financial Statements 2007-2013 WHEREAS, Section 141 of the Corporation Code of the Philippines requires corporations to submit their annual 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." TaDAHE WHEREAS, on 05 December 2013, the Commission sent a Notice of Conference to the corporation, directing it, through its officers or authorized representatives, to appear before the Commission and to show cause why it should not be penalized for non compliance with the Commission's reportorial requirements; WHEREAS, the Notice of Conference was received by one Milagros Eborda, as evidenced by the affidavit of service executed under oath by the Commission's driver/messenger, Mr. Eric Nantes who served the same (Annex B); WHEREAS, no representative appeared before the Commission on the scheduled date of conference or on 06 January 2014; WHEREAS, a Final Notice of Conference was served to the Corporation thru private courier (JRS Business Corporation) on 30 April 2014, the same was refused acceptance as evidenced by the List of Return DR's of said private courier dated 08 May 2014 (Annex C); WHEREAS, Section 5 (m) of Republic Act No. 8799, also known as the Securities Regulation Code and Section 6 (i) of Presidential Decree No. 902-A, as amended, vest the Commission with authority to revoke, after proper notice and hearing, the franchise or Certificate of Incorporation of corporations upon any of the grounds provided by law including the following: [6] Failure to file required reports in appropriate forms as determined by the Commission within the prescribed period; WHEREAS, considering the corporation's failure to file the required reports within the prescribed period, the Commission finds sufficient ground to revoke its Certificate of Incorporation; WHEREFORE, in view of the non-submission of the required reports, the Certificate of Incorporation of HUMANITARIAN OUTREACH DEVELOPMENT MISSION, INC., is hereby REVOKED for violation of Section 141 of the Corporation Code of the Philippines and SEC rules on reportorial requirements. SO ORDERED. Mandaluyong City. June 11, 2014. HICATc (SGD.) FERDINAND B. SALES Director Company Registration and Monitoring Department Securities and Exchange Commission
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.