In re Sunnix, Inc.

February 21, 2008 SEC EN BANC CASE NO. 11-07-0256 IN THE MATTER OF SUNNIX, INCORPORATED (SEC REG. NO. ASO94-003595) , petitioner . FOR: SETTING ASIDE OF THE ORDER OF REVOCATION OF CERTIFICATE OF REGISTRATION O R D E R Petitioner Sunnix, Incorporated is a stock corporation registered with the Commission on 21 April 1994 1 to "engage in, conduct, and carry on the business of buying, selling, distributing, marketing at wholesale and retail insofar as may be permitted by law, all kinds of goods, commodities, wares and merchandise of every kind and description; to enter into all kinds of contracts for the export, import, purchase, acquisition, sale at wholesale or retail and other disposition for its own account as principal or in representative capacity as manufacturer's representative, merchandise broker, indentor, commission merchant, factors or agents, upon consignment of all kinds of goods, wares, merchandise or products whether natural or artificial." 2 Its principal office is located at Narra Extension, Bacolod City, Negros Occidental, Philippines. 3 On 3 November 2003, Petitioner's Certificate of Registration No. ASO94-003595 was revoked pursuant to the Order dated 30 September 2003 for non-compliance with the Commission's reportorial requirements. Said Order was published in a newspaper of general circulation on 4 October 2003. Petitioner now prays for the setting aside of the said Order of Revocation on the ground that its office secretary, without the knowledge of the officers of the corporation, failed to submit the reportorial requirements with the Securities and Exchange Commission. In support of its Petition, Petitioner submitted its 2007 General Information Sheet (GIS) and 2006 Audited Financial Statements. Petitioner also submitted, as proof of its continued operation, the following documents: a) Income Tax Return for the year ended December 2006; and b) Mayor's Permit (No. 004466-0) issued on 06 February 2007 by the Office of the Mayor, City of Bacolod. Petitioner further alleges that it has no intention to violate the law and any SEC rules and regulations and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. It has also paid in full the penalties for non-compliance with its reportorial requirements and the late registration of its stock and transfer book amounting to Sixty-Five Thousand Eight Hundred Pesos (Php65,800.00) as evidenced by Official Receipt No. 5485275 dated October 11, 2007. WHEREFORE, premises considered, the Order of the Commission dated 30 September 2003 revoking the Certificate of Registration of Sunnix, Incorporated is hereby SET ASIDE. Consistent with its undertaking, Petitioner is hereby directed to submit a Mayor's Permit for 2008 within thirty (30) days from date of receipt of this Order. Failure on the part of Petitioner to comply with this directive shall cause the recall of the instant Order. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) and the Economic Research and Information Department (ERID) of this Commission for their appropriate action. SO ORDERED. Mandaluyong City. February 21, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner on official leave THADDEUS E. VENTURANZA Commissioner Footnotes 1. Certificate of Registration of Petitioner. 2. Amended Articles of Incorporation of Petitioner, Second Article. 3. Amended Articles of Incorporation of Petitioner, Third Article.