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(\ SEC NEWS DIGEST Issue 2000-61 March 31, 2000 COMMISSION ANNOUNCEMENTS MARK J. READY NAMED CHIEF ECONOMIST Chairman Levitt today named Mark J Ready as Chief Economist and Director of the Commission's Office of Economic Analysis Dr Ready, who will join the Commission In April, succeeds Erik Sirri Chairman Levitt said, "I look forward to Mark joining the Commission in this important role The Commission will benefit greatly from Mark's breadth of knowledge and depth of experience in the area of market microstructure It is a vital time in our market's history and we are fortunate to have such an accomplished economist and scholar at the Commission I am also extremely appreciative and thankful of the superb work of Acting Chief Economist William Atkinson, who has served with distinction." Dr Ready said, "I am honored that Chairman Levitt has selected me for this position I look forward to serving the Commission in my new capacity and hope to contribute significantly to the many complex and challenging issues facing the Commission" As Chief Economist, Dr. Ready will advise the Commission and its staff on the economic issues associated with the SEC's regulatory and policy activities In addition, Dr Ready will manage the Office of Economic Analysis, which analyzes the potential impacts and benefits of proposed regulations, conducts studies on specific rules, and engages in long-term research and policy planning The Office also analyzes data on a wide range of market activities that may require attention by the SEC. Dr Ready joined the School of Business (Department of Finance) at the University of Wisconsin-Madison in 1990 as an assistant professor, and was promoted to associate professor with tenure in 1997. He has also been an Aschenbrenner Faculty Scholar at the University of Wisconsin-Madison since 1998 In addition to his academic positions, Dr Ready was chief financial officer at V.I.P. Structures Inc. from 1987 to 1988 and a financial analyst and supervisor at Ford Motor Co. from 1978 to 1985 Additionally, frcm 1998 until coming to the Commission, Dr. Ready served on the Nasdaq's Economic Advisory Board

SEC News Digest, 03-31-2000 · SEC NEWS DIGEST Issue 2000-61 March 31, 2000 COMMISSION ANNOUNCEMENTS MARK J. READY NAMED CHIEF ECONOMIST Chairman Levitt today named Mark J Ready as

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Page 1: SEC News Digest, 03-31-2000 · SEC NEWS DIGEST Issue 2000-61 March 31, 2000 COMMISSION ANNOUNCEMENTS MARK J. READY NAMED CHIEF ECONOMIST Chairman Levitt today named Mark J Ready as

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SEC NEWS DIGESTIssue 2000-61 March 31, 2000

COMMISSION ANNOUNCEMENTS

MARK J. READY NAMED CHIEF ECONOMIST

Chairman Levitt today named Mark J Ready as Chief Economist and Director of the Commission's Office of Economic Analysis Dr Ready, who will join the Commission In

April, succeeds Erik Sirri

Chairman Levitt said, "I look forward to Mark joining the Commission in this important role The Commission will benefit greatly from Mark's breadth of knowledge and depth of experience in the area of market microstructure It is a vital time in our market's history and we are fortunate to have such an accomplished economist and scholar at the Commission I am also extremely appreciative and thankful of the superb work of Acting Chief Economist William Atkinson, who has served with distinction."

Dr Ready said, "I am honored that Chairman Levitt has selected me for this position I look forward to serving the Commission in my new capacity and hope to contribute significantly to the many complex and challenging issues facing the Commission"

As Chief Economist, Dr. Ready will advise the Commission and its staff on the economic issues associated with the SEC's regulatory and policy activities In addition, Dr Ready will manage the Office of Economic Analysis, which analyzes the potential impacts and benefits of proposed regulations, conducts studies on specific rules, and engages in long-term research and policy planning The Office also analyzes data on a wide range of market activities that may require attention by the SEC.

Dr Ready joined the School of Business (Department of Finance) at the University of Wisconsin-Madison in 1990 as an assistant professor, and was promoted to associate professor with tenure in 1997. He has also been an Aschenbrenner Faculty Scholar at the University of Wisconsin-Madison since 1998 In addition to his academic positions, Dr Ready was chief financial officer at V.I.P. Structures Inc. from 1987 to 1988 and a financial analyst and supervisor at Ford Motor Co. from 1978 to 1985 Additionally, frcm 1998 until coming to the Commission, Dr. Ready served on the Nasdaq's Economic Advisory Board

Page 2: SEC News Digest, 03-31-2000 · SEC NEWS DIGEST Issue 2000-61 March 31, 2000 COMMISSION ANNOUNCEMENTS MARK J. READY NAMED CHIEF ECONOMIST Chairman Levitt today named Mark J Ready as

Much of Dr Ready's research has focused on market microstructure His most recent publication, "The Specialist's Discretion: Stopped Orders and Price Improvement" appeared in the December 1999 issue of the Review of Financial Studies.

Dr Ready, 44, has a B.S. in operations research and an M.B.A., M.S., and Ph D in finance from Cornell University (Press ReI 2000-41)

SEC ANNOUNCES TENTH ANNUAL INTERNATIONAL INSTITUTE

The Commission is hosting its l Oth annual International Institute for Securities Market Development, beginning on Monday, April 3, 2000. The two-week, executive level program is the cornerstone of the SEC's international technical assistance program. The Institute provides an opportunity to discuss the core principles of securities regulation among a wide-ranging group of participants from emerging markets It features panels and workshops conducted by SEC staff and officials from the securities industry, the private bar, and international development organizations.

This year, the Institute audience will include over 100 senior securities officials from 64 emerging market countries Prior Institutes have provided training for nearly 800 officials from all five continents A hst of countries represented at this year's Institute is attached

The program will commence at 9:30 a.m with welcoming remarks by SEC Commissioner Isaac C. Hunt, Jr. David Ruder, former SEC Chairman and currently Professor of Law at Northwestern University, School of Law, will give the keynote address at 11'30 a.m Each of these talks is open to the press and will be delivered at the SEC's headquarters in Room IC30, 450 Fifth Street, N.W , Washington, D C (Press Rei 2000-42)

MEDIA ADVISORY - ARE BABY BOOMERS ILL-PREPARED FOR RETIREMENT?

Financial Literacy Campaign To Host Expert Panel Discussion

Experts say that time IS runnmg out for many Baby Boomers who want to retire soon As part of this year's Facts on Saving and Investing Campaign, the U.S. Securities and Exchange CommISSIOn (SEC), the North American Securities Administrators Association (NASAA) , and the Amencan Savings Education Council.(ASEC) will host a panel discussion on April 4th to address how nulhons of Baby Boomers could find themselves strugghng financially m retirement unless they start saving now.

Moderated by Dallas L Salisbury, president and CEO of the Employee Benefit Research Institute (EBRI) and chairman of ASEC, the panel will include' Congressman Jesse L Jackson, Jr.; Tom Gardner, co-founder of The Motley Fool, Paul R. Carey, Commissioner of the SEC, Wilham A. Halter, Deputy Commissioner of the SOCIal Security Administration, Bradley Skolnik, Indiana's Securities Commissioner and president of NASAA; and Robert L. Reynolds, President, Fidelity Investments Institutional Retirement Group.

NEWS DIGEST, March 31,2000 2

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WHAT: Panel discussion Are Baby BoomersIll-Prepared for Retirement?

WHEN: Tuesday, April 4, 2000 at 12:30 p.m. (ET)

WHERE: The National Press ClubLisagor Room529 14th St. NW, 13th FloorWashington, DC 20045202-662-7500

RSVP: E-maIlCheryl Besl at: [email protected]

Note: A hght buffet lunch will be served at noon

Contacts: John Nester, SEC, (202) 942-7083, [email protected] Beauchamp,NASAA, (202) 737-0900, [email protected] Paladmo, ASEC, (202) 775-6321, paladmol'G;asecorg

(Press Rei 2000-43)

ENFORCEMENT PROCEEDINGS

SUMMARY JUDGMENT GRANTED AGAINST BRENT WAGMAN

On March 24, Judge Barbara M G Lynn of the US District Court for the Northern District of Texas (Dallas Division) granted the Commission's Motion for Summary Judgment against Brent A Wagman Judge Lynn permanently enjoined Mr Wagman from future violations of the antifraud and registration provisions of the federal securities laws Judge Lynn further ordered Mr Wagman to disgorge approximately $24 million, which represents investor losses resulting from the fraudulent distribution of nine-month promissory notes on behalf of Redbank Petroleum, Inc and AmeriTech Petroleum, Inc from 1996 through 1999 In addition, Judge Lynn ordered Mr Wagman to pay the maximum civil penalty of$110,000

Mr Wagman, and two of his colleagues, Warren T Donohue and Margaret F Swinney, were indicted by a grand jury in the US District Court for the Northern District of Texas with two counts of securities fraud on March 21, 2000 The indictment alleged that the defendants made material misrepresentations and omissions to the public to encourage investments in Redbank and AmeriTech.

Mr Wagman, the former president of Redbank and AmeriTech, is presently in the custody of federal authorities On March 10, 2000 he was arrested in Panama and brought back to the United States to face criminal charges He and his family had fled to Panama last summer after the Commission filed its lawsuit against him

The Commission's complaint alleged that Redbank and Ameritech, at Wagman's direction, offered and sold approximately $30 million in so-called high interest corporate

NEWS DIGEST, March 31,2000 3

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notes to investors in numerous states. The corporate notes were offered to retirees and others as risk-free investments with above market rates of return, and backed by an unconditional guarantee by an independent insurance company. In fact, no such guarantee existed. Rather than using investors' monies for the stated purposes, funds were diverted to fund the operations of several other entities under Wagman's control, and for personal expenses of Wagman. The defendants also used investors' funds as "Ponzi" payments to lull existing investors and to lure new ones. [SEC v Redbank Petroleum, Inc. et aI., #3-99CVI267-T, USDC, NDTX, Dallas Division] (LR-16490)

CIVIL ACTION AGAINST RENAISSANCE CAPITAL MANAGEMENT, INC., ET AL.

The Commission announced that it filed a complaint on March 30 in the United States Distnct Court for the Eastern District of New York charging five individuals and two entities with having defrauded at least 89 investors of more than $2.4 million through the sale of unregistered common stock of NNPD Textiles, Inc (NNPD) -- a struggling, family-owned knitting business. The Commission alleges that the individuals charged in the complaint diverted the proceeds raised from the fraudulent scheme to themselves and to pay personal expenses Named in the complaint are

Renaissance Capital Management, Inc. (Renaissance Capital), a New York corporation that, until April 1999, was located in Farmingdale, New York,

NNPD Escrow Holdings Company, Inc. (NNPD Escrow), a New York corporation that, until April 1999, was located in Farmingdale, New York;

Allen Andrescu (Andrescu), a 25 year old former resident of Merrick, New York, who is the Chief Executive Officer (CEO) and sole owner of Renaissance Capital, and who is the CEO and President ofNNPD Escrow,

Richard Brower, a 26 year old resident of Merrick, New York, who was employed by Renaissance Capital from May 1997 to June 1998;

Mark Coates, a 28 year old resident of Hempstead, New York, who was employed by Renaissance Capital from May 1997 to January 1998;

Vikram Randhawa, a 29 year old former resident of Albertson, New York, who managed the day-to-day operations of Renaissance Capital from June 1997 to March 1999, and

Tejbir Singh AlKJA Raj Nanvaan, a 22 year old resident of West Babylon, New York, who was employed by Renaissance Capital from February 1998 to June 1998.

NEWS DIGEST, March 31,2000 4

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Also named in the complaint as relief defendants are

Ana Andreseu (A Andrescu), a 48 year old resident of Massapequa, New York, who is Andrescu's mother and who received at least $19,500 from the proceeds of the sale of NNPD stock,

Jon Andreseu (1. Andrescu), a 52 year old resident of Massapequa, New York, who is Andrescu's father and who received at least $9,900 from the proceeds of the sale of NNPD stock; and

Magie Knits LTD, a New York corporation located in Brooklyn, New York, which is wholly owned by J Andrescu and which received at least $66,000 from the proceeds of the sale of NNPD stock

The complamt alleges that from at least October 1997 to at least March 1999, Andrescu, Brower, Coates, Randhawa and Singh, through two companies that Andrescu controlled, Renaissance Capital and NNPD Escrow (collectively, Defendants), conducted a fraudulent private placement of NNPD stock The complaint alleges that, among other things, Defendants falsely represented that investors would be able to sell their NNPD shares for a substantial profit in an imminent initial public offering (lPO) by NNPD, that NNPD projected substantial and growing future revenues, and that the proceeds of the sale of NNPD stock would be paid to NNPD According to the complaint, in fact, there was no real possibility that NNPD would successfully conduct an lPO, the revenue projections were without basis in fact, and, while NNPD received no more than $100,000 of the over $2 4 million raised in the offenng, Defendants diverted the bulk of the proceeds raised from the offering to themselves and to pay personal expenses The Commission alleges that, through this conduct, Defendants violated the antifraud provisions set forth in Section 17(a) of the Securities Act of 1933 (Securities Act) and Section 1O(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 In addition, the Commission alleges that Defendants violated the registration provisions set forth in Sections 5(a) and 5(c) of the Securities Act by unlawfully sellmg unregistered NNPD stock

The Commission seeks a final judgment permanently enjoining Renaissance Capital, NNPD Escrow, Andrescu, Brower, Coates, Randhawa and Singh, from violating Sections 5 and 17(a) of the Securities Act and Section lO(b) of the Exchange Act and Rule lOb-5 thereunder, ordering them to account for and to disgorge their ill-gotten gains plus prejudgment interest, and assessing civil penalties. The Commission also seeks an order requiring A. Andrescu, J Andrescu and Magic Knits to account for and to disgorge the amounts they were paid from the proceeds of the sale of NNPD stock plus prejudgment interest

The Commission thanks the New York Attorney General's Office for its cooperation in this matter The litigation is pending [SEC v Renaissance Capital Management, Inc, et al , CIV 00 1848, PLATT, EDNY] (LR-16492, AAE ReI 1245)

NEWS DIGEST, March 31, 2000 5

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SEC CHARGES INTERNET MESSAGE BOARD POSTER WITH SECURITIES FRAUD

On March 30, the Commission filed a complaint charging Fred Moldofsky, a self-described day trader residing in Houston, Texas, with securities fraud for posting a fake press release related to Lucent Technologies, Inc (Lucent) on a Yahoo! Finance message board The complaint alleges that Moldofsky posted the fake release, which purported to announce a quarterly earnings shortfall, more than 20 times on March 22 and March 23, 2000. The complaint alleges that Moldofski used at least four screen names to post or comment on the release, one of which was designed to resemble a screen name used by a frequent commentator on the Lucent message board who historically had expressed a positive view of Lucent stock Lucent stock closed on March 22 at $62625, down $2 625 from the opening price that day On March 23, Lucent opened at $62 125 and traded as Iowa $60.375 before the fraudulent press release was disavowed. The complaint alleges that Moldofsky violated Section 1O(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. In a related action (U.S. v. Moldofsky, 00 MAG 0622), Moldofsky was arrested on charges of securities fraud contained in a criminal complaint filed by the United States Attorney for the Southern District of New York and the United States Postal Inspection Service [SEC v. Fred Moldofsky, 00 Civ 2425, SDNY, Baer] (LR-16493)

HOLDING COMPANY ACT RELEASES

EASTERN UTILITIES ASSOCIATES

An order has been issued authorizing Eastern Utilities Associates (EUA) , a registered holding company, to guaranty certain performance obligations of EUA Cogenex Corporation (Cogenex), a wholly owned subsidiary .of EUA, in connection with (1) Cogenex's sale of certain assets to Fleet Business Credit Corporation (Fleet), and (2) the proposed restructuring and additional funding by Fleet of certain Cogenex contracts previously sold to Fleet. (ReI. 35-27160)

SELF-REGULATORY ORGANIZATIONS

ACCELERATED APPROVAL OF PROPOSED RULE CHANGE

The Commission granted accelerated approval to a proposed rule change filed by the Boston Stock Exchange (SR-BSE-OO-Ol) extending its specialist performance evaluation pilot program Publication is expected in the Federal Register during the week of April 3 (ReI. 34-42585)

NEWS DIGEST, March 31,2000 6

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PROPOSED RULE CHANGE

A proposed rule change and Amendment No. 1 thereto have been filed by the Pacific Exchange. (SR-PCX-99-36) relating to options trading rules Publication of the proposal is expected in the Federal Register during the week of April 3 (ReI 34-42590)

IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGE

The American Stock Exchange filed a proposed rule change (SR-Amex-00-06) revising its Constitution to allow allied members access to the Exchange Trading Floor and creating an official policy to allow former members with more than 20 years of service special access to the Exchange Trading Floor. Publication of the proposal is expected in the Federal Register during the week of April 3 (ReI 34-42592)

DELISTINGS GRANTED

An order has been issued granting the application of the Chicago Stock Exchange to strike from listing and registration Paging Network, Inc, Common Stock, $ 01 par value (ReI 34-42594)

An order has been issued granting the application of the Philadelphia Stock Exchange to strike from listing and registration The Options Cleanng Corporation, call and put options contracts respecting certain underlying securities (ReI 34-42595)

SECURITIES ACT REGISTRATIONS

The following registration statements have been filed with the SEC under the Securities Act of 1933 The reported information appears as follows Form, Name, Address and Phone Number (if available) of the issuer of the security, Title and the number and/or face amount of the securities being offered, Name of the managing underwriter or depositor (if applicable); File number and date filed, Assigned Branch, and a designation if the statement is a New Issue

Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N W , Washington, DC 20549 or at the following e-mail box address <publicinfo@sec gov> In most cases, this Information is also available on the Commission's website. <www.sec gov>

S-4 STYLECLICK INC, 152 WEST 57TH STREET, NEW YORK, NY 10019 (212) 314-7300 - 7,980,000 ($92,268,750) COMMON STOCK. (FILE 333-33194 - MAR. 24)

(BR. 9 - NEW ISSUE)

7 NEWS DIGEST, March 31,2000

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S-3 MGI PHARMA INC, 9900 BREN RD EAST STE 300E, C/O OPUS CENTER MINNETONKA MINNESOTA, MINNEAPOLIS, MN 55343 (612) 935-

7335 - 2,875,000 ($84,453,125) COMMON STOCK. (FILE 333-33198 - MAR. 24)(BR. 1)

S-3 MGM GRAND INC, 3799 LAS VEGAS BLVD S, LAS VEGAS, NV 89109 (702) 891-3333

(FILE 333-33200 - MAR. 24) (BR. 5)

S-3 ALPHA HOSPITALITY CORP, 12 EAST 49TH STREET, 24TH FL, NEW YORK, NY10017

(212) 750-3500 - 3,300,000 ($16,599,000) COMMON STOCK. (FILE 333-33204

MAR. 24) (BR. 5)

S-l SMTC CORP, 635 HOOD ROAD, MARKHAM ONTARIO, CANADA L3R 4N6, (905) 479-1810 - $125,000,000 COMMON STOCK. (FILE 333-33208 - MAR. 24)(BR. 36 - NEW ISSUE)

S-8 TUFCO TECHNOLOGIES INC, 4800 SIMONTON ROAD, POBOX 23500, DALLAS, TX

75244 (972) 789-1079 - 350,000 ($3,654,000) COMMON STOCK. (FILE 333-33210

- MAR. 24) (BR. 4)

S-8 CIRCUIT CITY STORES INC, 9950 MAYLAND DR, RICHMOND, VA 23233 (804) 527-4000 - 1,000,000 ($2,218,800) COMMON STOCK. (FILE 333-33212

MAR. 24) (BR . 2)

S-8 PINNACLE DATA SYSTEMS INC, 6600 PORT RD, 614-487-1150, GROVEPORT, OH 43125 (614) 748-1150 - 620,400 ($4,958,143.75) COMMON STOCK. (FILE333-33214 - MAR. 24) (BR. 7)

S-8 GLOBAL WATER TECHNOLOGIES INC, 1767 DENVE'R WEST BOULEVARD, SUITE C-500,

GOLDEN, CO 80401 (303) 215-1100 - 30,000,000 ($14,100,000) COMMON STOCK.

(FILE 333-33216 - MAR. 24) (BR. 6)

F-3 GENTIA SOFTWARE PLC, 48 \,lALLST, C/O BANK OF NEW YORK, NEW YORK, NY 10286 (212) 815-1727 - 2,648,647 ($27,810,794) FOREIGN COMMON STOCK. (FILE 333-33218 - MAR. 24)

S-2 ROUNDYS INC, 23000 ROUNDY DR, PEWAUKEE, WI 53072 (414) 547-7999 -304,000 ($39,504,800) COMMON STOCK. (FILE 333-33222 - MAR. 24) (BR. 4)

S-l INTEGRITY SOFTWARE INC, CANDER LOCK, SOUTH DOCK RD, DUBLIN IRELAND, L2

00000 (OIl) 353-1665 - 3,450,000 ($74,390,625) COMMON STOCK. (FILE333-33224 - MAR. 24) (BR. 6)

S-8 OXFORD HEALTH PLANS INC, 48 MONROE TURNPIKE, TRUMBULL, CT 06611 (203) 459-7000 - 800,000 ($11,275,040) COMMON STOCK. (FILE 333-33226 -MAR. 24) (BR. 1)

8 NEWS DIGEST, March 31,2000

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S-4 WEBSTER FINANCIAL CORP, WEBSTER PLAZA, 145 BANK ST, WATERBURY, CT 06720

(203) 753-2921 - 8,293,778 ($262,581,011.48) COMMON STOCK. (FILE333-33228 - MAR. 24) (BR. 7)

S-3 LOWES COMPANIES INC, HIGHWAY 268 EAST, NORTH WILKESBORO, NC 28659 (336) 658-4000 - 2,500,000 ($126,025,000) COMMON STOCK. (FILE 333-

33230 -MAR. 24) (BR. 6)

S-3 WAVE SYSTEMS CORP, 480 PLEASANT ST, LEE, MA 01238 (413) 243-1600 -3,600,000 ($131,537,224) COMMON STOCK. (FILE 333-33236 - MAR. 24) (BR.

3)

S-l NEXGENIX INC, 30 CORPORATE PARK, SUITE 410, IRVINE, CA 92606 (949) 476-4097 - 57,500 ($57,500,000) COMMON STOCK. (FILE 333-33238 -MAR. 24) (BR. 8)

S-3 HOUSEHOLD FINANCE CORP, 2700 SANDERS RD, PROSPECT HEIGHTS, IL 60070 (847) 564-5000 - 10,000,000,000 STRAIGHT BONDS. (FILE 333-33240 - MAR.

24 ) (BR. 7)

S-3 ALLIANCE PHARMACEUTICAL CORP, 3040 SCIENCE PARK RD, SAN DIEGO, CA 92121

(858) 42.0-5200 - 4,588,483 ($60,797,400) COMMON STOCK. IFILE 333-33242

MAR. 24) (BR. 1)

S-4 FIRST MERCHANTS CORP, 200 E JACKSON ST, PO BOX 792, MUNCIE, IN 47308 (317) 747-1500 - 1,346,118 ($14,508,526.77) COMMON STOCK. (FILE 333-

33244 - MAR. 24) (BR. 7)

S-8 ALLIANCE PHARMACEUTICAL CORP, 3040 SCIENCE PARK RD, SAN DIEGO, CA 92121

(858) 410-5200 - 2,124,000 ($28,154,395) COMMON STOCK. IFILE 333-33246

MAR. 24) (BR. 1)

S-3 MELLON FUNDING CORP, 500 GRANT ST, ONE MELLON BANK CENTER, PITTSBURGH,

PA 15258 (412) 234-5000 - 1,000,000,000 ($1,000,000,000) STRAIGHT BONDS.

(FILE 333-33248 - MAR. 24) (BR. 7)

S-3 HUMAN GENOME SCIENCES INC, 9410 KEY W AVE, ROCKVILLE, MD 20850 (301) 309-8504 - 225,000,000 ($225,000,000)CONVERTIBLE DEBENTURES AND NOTES. (FILE 333-33252 - MAR. 24) (BR. 1)

NEWS DIGEST, March 31,2000 9

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S-8 DOW CHEMICAL CO IDEI, 2030 DOW CENTER, MIDLAND, MI 48674 (517) 636-1000

- 2,002,000 ($177,277,100) COMMON STOCK. (FILE 333-33254 - MAR. 24)(BR. 2)

S-4 WESTERN SIERRA BANCORP, 4011 PLAZA GOLDORADO CIRCLE, CAMERON PARK, CA

95682 (530) 677-5600 - 831,877 ($5,315,017) COMMON STOCK. (FILE 333-33256

- MAR. 24) (BR. 7)

S-8 AUTOMATIC DATA PROCESSING INC, ONE ADP BOULVARD, ROSELAND, NJ 07068 (201) 994-5000 - 14,791,133 ($776,075,957.37) COMMON STOCK. (FILE333- 33258 - MAR. 24) (BR. 3)

S-4 BOE FINANCIAL SERVICES OF VIRGINIA INC, POBOX 965, 323 PRINCE STREET,

TAPPAHANNOCK, VA 22 560 (804) 443-4343 - 1,167 ,7 90 ($14 , 597,375) COMMON STOCK. (FILE 333-33260 - MAR. 24) (NEW ISSUE)

S-l SOMANETICS CORP, 1653 E MAPLE ROAD, TROY, MI 48083 (248) 689-3050 -1,200,000 ($6,637,625) COMMON STOCK. (FILE 333-33262 - MAR. 24) (BR.

5 )

S-3 AMERICAN EDUCATIONAL PRODUCTS INC, 6550 GUNPARK DRIVE, SUITE 200, BOULDER, CO 80301 (303) 527-3230 - 146,250 ($1,312,500) COMMON STOCK. (FILE 333-33264 - MAR. 24) (BR. 5)

S-3 ENERGY CONVERSION DEVICES INC, 1675 W MAPLE RD, TROY, MI 48084 (810) 280-1900 - 376,000 ($8,095,938) COMMON STOCK. (FILE 333-33266 -MAR. 24) (BR. 5)

S-3 CELL THERAPEUTICS INC, 201 ELLIOTT AVE W, STE 400, SEATTLE, WA 98119 (206) 270-7100 - 3,450,000 ($66,628,125) COMMON STOCK. (FILE 333-33268

MAR. 24) (BR. 1)

S-8 CECO ENVIRONMENTAL CORP, 505 UNIVERSITY AVE, STE 1400,TORONTO ONTARIO MSG, A6 (416) 593-6543 - 1,500,000 ($4,054,650)COMMON STOCK. (FILE 333-33270 - MAR. 24) (BR. 6)

S-8 PLANETRX COM, 349 OYSTER POINT BLVD, STE 201, SOUTH SAN FRANCISCO, CA

94080 (650) 616-1500 - 9,675,263 ($90,270,203.79) COMMON STOCK. (FILE333-33272 - MAR. 24) (BR. 2)

S-8 COMPUTER CONCEPTS CORP IDE, 80 ORVILLE DR, BOHEMIA, NY 11716 (516) 244-1500 - 4,657,300 ($9,174,881) COMMON STOCK. (FILE 333-33274

MAR. 24) (BR. 3)

S-8 CLEAN DIESEL TECHNOLOGIES INC, 300 ATLANTIC ST, STE 702, STAMFORD, CT

06901 (203) 327-7050 - 1,100,000 ($2,618,000) COMMON STOCK. (FILE333-33276 - MAR. 24) (BR. 2)

10 NEWS DIGEST, March 31,2000

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S-1 EDOCS INC, TWO APPLE HILL, 598 WORCESTER RD, NATICK, MA 01760 (617) 652-8600 - $69,000,000 COMMON STOCK. (FILE 333-33278 - MAR. 24)(NEW ISSUE)

S-8 JANEX INTERNATIONAL INC, 2999 NORTH 44TH STREET, SUITE 225, PHOENIX,AZ

85018 (602) 808-8765 - 2,500,000 ($4,842,500) COMMON STOCK. (FILE333-33280 - MAR. 24) (BR. 5)

S-3 PUBLIC SERVICE CO OF OKLAHOMA, 212 E 6TH ST, TULSA, OK 74119 (918) 599-2000 - 200,000,000 ($200,000,000) STRAIGHT BONDS. (FILE333-33284 - MAR. 24) (BR. 2)

S-4 MOTOROLA INC, 1303 E ALGONQUIN RD, SCHAUMBURG, IL 60196 (847) 576-5000

- 2,907,862 ($9,686,238) COMMON STOCK. (FILE 333-33286 - MAR. 24) (BR.7)

S-3 INTERLINK ELECTRONICS, 546 FLYNN RD, CAMARILLO, CA 93012 (805) 484-8855

- 2,875,000 ($230,898,437.50) COMMON STOCK. (FILE 333-33288 - MAR. 24)(BR. 3)

RECENT 8K FILINGS

Form 8-K is used by companies to file current reports on the following events

Item 1 Changes in Control of Registrant Item 2 Acquisition or Disposition of Assets Item 3 BanKruptcy or Receivership Item 4 Changes in Registrant's Certifying Accountant Item 5 Other Materially Important Events Item 6 Resignations of Registrant's Directors Item 7 Financial Statements and Exhibits Item 8 Change in Fiscal Year Item 9 Regulation S Offerings

The following companies have filed 8-K reports for the date indicated and/or amendments to 8-K reportspreviously filed, responding to the item( s) 'of the form specified 8-K reports may be obtained in personor by writing to the Commission's Public Reference Branch at 450 Fifth Street, N W , Washington, D C20549 or at the following e-mail box address <pubhcinfotgtsec gov> Inmost cases, this information is also available on the Commission's website <www.sec gov>

STATE BK ITEM NO. NAME OF ISSUER CODE 1 2 3 4 5 6 7 B 9 DATE COMMENT

ACUBID COM INC DE X 03/13/00ALARCON HOLDINGS INC NY X X 01/14/00 AMEND AMERICAN TOWER CORP /MA/ DE X 03/30/00AMRESCO CAPITAL TRUST TX X X 03/29/00ANKER COAL GROUP INC DE X X 03/29/00ANTIGUA FUNDING CORP DE X 03/08/00

11 NEWS DIGEST, March 31, 2000

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STATE 8K ITEM NO.NAME OF ISSUER CODE 1 2 3 4 5 6 7 8 9 DATE COMMENT

ANTIGUA FUNDING CORP ANYOX RESOURCES INC APPNET INC /DE/ ARC COMMUNICATIONS INC ARXA INTERNATIONAL ENERGY INC ASHFORD COM INC ASSET SECURITIZATION CORP COM MOR P

S THR CERT SER 1999-C2 ATLANTIC RICHFIELD CO /DE BA MASTER CREDIT CARD TRUST /BARNETT AUTO TRUST 1997-A BEAR STEARNS COMMERCIAL MORTGAGE SE

CURITIES INC BEAR STEARNS COMMERCIAL MORTGAGE SE

CURITIES INC BEP.RSTEARNS COMMERCIAL MORTGAGE SE

CURITIES INC BEAR STEARNS COMMERCIAL MORTGAGE SE

CURITIES INC BEAR STEARNS COMMERCIAL MORTGAGE SE

CURITIES INC BEAR STEARNS COMPANIES INC BILLING CONCEPTS CORP BOATMENS AUTO TRUST 1996-A BOGEN COMMUNICATIONS INTERNATIONAL

INC BRASS EAGLE INC BRESNAN CAPITAL CORP BRUNSWICK CORP C & F FINANCIAL CORP CALPINE CORP CAMERON ASHLEY BUILDING PRODUCTS IN

C

CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1

CATERPILLAR FINANCIAL FUNDING CORP CATERPILLAR FINANCIAL FUNDING CORP CCG VIII LLC CHAPMAN CAPITAL MANAGEMENT HOLDINGS

INC CHAPMAN HOLDINGS INC CHARMING SHOPPES MASTER TRUST CHARMING SHOPPES RECEIVABLES CORP CIBER INC CLAIMSNET COM INC CLARCOR INC CNH RECEIVABLES INC COMC INC COMMERCIAL MORTGAGE PASS THROUGH CE

RTIFICATES SERIES 1999 C2 COMMONWEALTH EDISON CO COMMUNITY BANK SHARES OF INDIANA IN

C

COMPAQ COMPUTER CORP

12 NEWS DIGEST, March 31,2000

DE NV DE NJ DE DE DE

X X X

X

X X

X X

X X X

X

03/08/0003/15/0003/30/0003/30/0003/29/0001/14/00 AMEND03/17/00

DE

DE DE X

X

X X X

03/23/0002/29/0003/15/0003/14/00

DE X 03/15/00

DE X 03/15/00

DE X 03/16/00

DE X 03/21/00

DE DE DE DE

X X X X

X X X X

03/22/0003/16/0003/15/0003/30/00

DE DE DE VA DE GA

X X X X X X

X

X

03/29/0003/23/0003/29/0003/30/0003/06/0003/27/00

NY 'x 03/08/00

NV NV DE MD

X X

X X

X

12/31/9912/31/9903/23/0003/30/00

DE DE DE DE DE DE IL NY

X

X X X X X X X

X X

X

X

03/30/0003/15/0003/15/0003/30/0003/23/0003/27/0003/16/0003/29/0003/17/00

IL IN

X X

01/31/0003/24/00

DE X 03/30/00

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--------------------------------------------------------------------------STATE 8K ITEM NO.

NAME OF ISSUER CODE 1 2 3456789 DATE COMMENT

COMPX INTERNATIONAL INC CONNING CORP CONSOLIDATED GROWERS & PROCESSORS

NC I

DE MO

X

X X

X X

03/29/0003/09/0003/29/00

CONTINENTAL AIRLINES INC /DE/CORNING INC /NYCOVOL TECHNOLOGIES INC CREDIT SUISSE FIR BOS MOR SEC CORP

MO BK PA TH CE SE 99-WM3

DE NY DE DE

X

X

X

X

X

X

03/15/0003/29/0003/15/0003/31/00

CROWN CENTRAL PETROLEUM CORP /MD/CWMBS INC DARDEN RESTAURANTS INC DELTA FUNDING CORP /DE/DETOUR MAGAZINE INC DISCOVERY LABORATORIES INC /DE/DORAL FINANCIAL CORP E MACHINERY NET INC EATON CORP ECONNECT EDISON BROTHERS STORES INC ELECTRONIC PROCESSING INC ENTER TECH CORP ENTRADE INC ENVIRO VORAXIAL TECHNOLOGY INC EQCC HOME EQUITY LOAN TRUST 1999-1 EQCC HOME EQUITY LOAN TRUST 1999-2 EQCC HOME EQUITY LOAN TRUST 1999-3 EQUALITY BANCORP INC FIRST OMNI BANK CREDIT CARD MASTER

TRUST

MD DE FL NY CO DE PR DE OH NV DE MO NV PA ID DE DE DE DE

X X

X

X

X

X

X

X

X X

X

X

X

X

X

X

X

X

X

X

X

X X X

X X

X

X

X

X

X X X X X

03/30/0003/30/0003/23/0003/28/0003/22/0003/20/0003/28/0003/28/0003/29/0003/13/0003/24/0003/30/0002/29/0003/28/0012/31/9903/20/0003/25/0003/25/0003/15/0002/29/00

AMEND

FIRST SOUTH BANCORP INC IVAI FIRST UNION COMMERCIAL MORTGAGE

URITIES INC SEC

VA DE

X X X

03/30/0003/16/00

FIRST UNION COMMERCIAL URITIES INC

MORTGAGE SEC DE X 03/18/00

FONIX CORP FORD CREDIT

P AUTO RECEIVABLES TWO L

DE DE

X X X

03/21/0003/30/00

FORTUNE NATURAL RESOURCES CORP FREQUENCY ELECTRONICS INC GENICOM CORP GENIUS PRODUCTS INC GLOBALNETCARE INC GMAC COMMERCIAL MORTGAGE SECURITIES

INC

DE DE DE NV FL DE X

X X X

X X X

X

X

X

03/30/0003/23/0003/02/0003/08/0002/22/0003/16/00

AMEND

GOHEALTH MD INC GOLDSTATE CORP GROW BIZ INTERNATIONAL INC HADCO CORP HALLIBURTON CO HERSHA HOSPITALITY TRUST HOMESTEAD VILLAGE INC IMS HEALTH INC INFOSPACE COM INC

NV NV MN MA DE MD MD DE DE

X

X

X X X X X X X

X X X

X X X

01/13/0003/30/0003/22/0003/28/0003/27/0003/30/0003/23/0003/28/0002/25/00

13 NEWS DIGEST, March 31,2000

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NAME OF ISSUER

INFOSPACE COM INC INTEGRATED CIRCUIT SYSTEMS INC INTERACTIVE TELESIS INC INTERGOLD CORP INTERSIL HOLDING CO INVESTAMERICA INC IXATA GROUP INC JABIL CIRCUIT INC JUPITER COMMUNICATIONS INC KANA COMMUNICATIONS INC KANA COMMUNICATIONS INC KNICKERBOCKER CAPITAL CORPORATION

LANGUAGEWARE NET CO LTD LEAPFROG SMART PRODUCTS INC LEHMAN BROTHERS HOLDINGS INC LOGAN INTERNATIONAL CORP/CNLONE STAR TECHNOLOGIES INC LONE WOLF ENERGY INC MARKETING SPECIALISTS CORP MBNA AMERICA BANK NATIONAL ASSOCIAT

ION MBNA AMERICA BK NAT ASSOC MBNA MAST

ER CREDIT CARD TRUST II MELLON BANK CREDIT CARD MASTER TRUS

T MELLON BANK CREDIT CARD MASTER TRUS

T MELLON BANK CREDIT CARD MASTER TRUS

T

MENDOCINO BREWING CO INC MERCURY CAPITAL CORP MERLIN SOFTWARE TECHNOLOGIES INTERN

ATIONAL INC MNI GROUP INC MORGAN JP COMMERCIAL MOR FIN CORP M

OR PAS THR CE SER 2000-C9 MORTGAGE COM INC MOSSIMO INC NAM CORP NATIONAL BANCORP OF ALASKA INC NATIONAL MANUFACTURING TECHNOLOGIES NATIONSBANK AUTO OWNER TRUST 1996-A NATIONS BANK OF DELAWARE NA NATIONSCREDIT GRANTOR TRUST 1996-1 NATIONSCREDIT GRANTOR TRUST 1997-1 NATIONS CREDIT GRANTOR TRUST 1997-2 NAVISTAR FINANCIAL RETAIL RECEIVABL

ES CORPORATION NAVISTAR FINANCIAL SECURITIES CORP NCT FUNDING CO LLC NETWORK SIX INC NISSAN AUTO RECEIVABLES CORP /DENISSAN AUTO RECEIVABLES CORP /DE

14 NEWS DIGEST, March 31,2000

STATE BK ITEM NO.CODE 1 2 3 4 5 6 7 B 9 DATE COMMENT

DE X x 03/10/00PA X 03/27/00DE X x 12/17/99 AMEND NV X 03/30/00DE x 03/14/00NV X X x 03/15/00DE X x 02/20/00DE X 03/16/00DE X X x 02/28/00DE X 03/22/00DE X x 03/22/00 AMEND CO X 03/15/00

X x 01/14/00CO X 03/31/00DE x 03/28/00WA X 03/28/00DE x 01/03/00 AMEND CO X 03/02/00DE X X 03/28/00DE X X 03/28/00

X X 03/28/00

DE X X 10/11/99 AMEND

DE X X 11/10/99 AMEND

DE X X 12/11/99 AMEND

CA X 03/29/00CO X 03/23/00NV X X X X 01/07/00 AMEND

NJ X X 03/24/00DE X 03/15/00

FL X X 03/29/00DE X X 03/28/00DE X X 03/29/00DE X X 02/15/00~A X X 03/24/00 AMEND DE X X 03/15/00DE X X 03/15/00DE X X 03/15/00DE X X 03/15/00DE X X 03/15/00DE X X 03/15/00

DE x x 03/25/00DE x 03/16/00RI X 03/30/00DE X 01/15/00DE X 01/15/00

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--------------------------------------------------------------------------STATE 8K ITEM NO.

NAME OF ISSUER CODE 1 2 34567 8 9 DATE COMMENT

NORTHERN STATES POWER co /MN/NRG ENERGY INC NSTAR/MANTECH CORP NTL INC/NY/NUPRO INNOVATIONS INC ONLINE POWER SUPPLY INC ONYX ACCEPTANCE OWNER TRUST 2000-A ORTEC INTERNATIONAL INC OVVIO BETTER LIFE INC PARK PLACE ENTERTAINMENT CORP PEACHES ENTERTAINMENT CORP PENNCORP FINANCIAL GROUP INC /DE/PEOPLES BANCORP INC PERITUS SOFTWARE SERVICES INC PERLE SYSTEMS LTD PLAINWELL INC PNC MORTGAGE SECURITIES CORP PUBLIX SUPER MARKETS INC QCOMM INTERNATIONAL INC REGENCY GPOUP LTD INC REGENERON PHARMACEUTICALS INC RESIDENTIAL ASSET MORTGAGE PRODUCTS

INC

MN DE MA DE DE

NV

DE WA DE FL DE OH MA

DE DE FL UT NV NY DE

X

X

X X

X X X

X

X X X

X

X X X X

X

X

X

X

X X

X X X

X

X

X X X

X X X X

X

X

03/29/0003/29/0002/10/0003/29/0003/16/0003/28/0003/17/0003/15/0003/30/0003/15/0003/24/0003/22/0003/23/0003/30/0003/27/0003/24/0003/31/0003/29/0003/21/0003/24/0003/27/0003/28/0003/23/00

AMEND

AMEND

RESOURCE INC

BANCSHARES MORTGAGE GROUP DE X X 03/23/00

REXALL SUNDOWN INC REXALL SUNDOWN INC ROYAL FINANCIAL CORP SALES ONLINE DIRECT INC SALIENT CYBERTECH INC SALOMON BROTHERS MORTGAGE

S VII INC SECURITIE

FL FL NV DE DE DE

X

X

X

X

X

X X

X

X

03/24/0003/24/0003/30/0003/28/0003/31/0003/29/00

SAXON ASSET ASSET BK

SEC TRUST 2000 1 MTG CERT SER 2000 1

LN VA X X 03/27/00

SBI COMMUNICATIONS INC SBS PROMOTIONS INC SECTOR COMMUNICATIONS INC SEMPRA ENERGY SHARED MEDICAL SYSTEMS CORP SILVER BOW ANTIQUE AVIATION SIMIONE CENTRAL HOLDINGS INC SPANISH BROADCASTING SYSTEM INC SPANISH BROADCASTING SYSTEM INC /NJ

/ SPANISH BROADCASTING SYSTEM NETWORK

INC

DE NY NV CA DE NV DE DE DE

NY

X

X

X

X X

X

X

X

X

X

X

X

X X X

X

03/31/0001/14/0009/21/9903/30/0003/27/0003/15/0003/30/0001/14/0001/14/00

01/14/00

AMEND

AMEND AMEND

AMEND

SPANISH BROADCASTING FORNIA INC

SYSTEM OF CALI CA X X 01/14/00 AMEND

SPANISH BROADCASTING IDA INC

SYSTEM OF FLOR FL X X 01/14/00 AMEND

SPYGLASS INC STRUCTURED ASSET SEC

CERT SER 2000-1 CORP PASS THR

DE DE

X

X X X

03/26/0003/31/00

15 NEWS DIGEST, March 31, 2000

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--------------------------------------------------------------------------STATE BK ITEM NO.

NAME OF ISSUER CODE 1 2 3 4 567 B 9 DATE COMMENT

SUMMIT TECHNOLOGY INC TBM HOLDINGS INC TELTRAN INTERNATIONAL GROUP LTD TELXON CORP TOMPKINS TRUSTCO INC TOTAL CONTAINMENT INC TRANSFORMATION PROCESSING INC TRAVELERS BANK CREDIT CARD MASTER

RUST I T

MA FL DE DE NY DE NV DE

X X X

X

X X

X

X

X

X X X X

X

03/29/0003/29/0003/15/0003/15/0012/31/9903/29/0011/25/9912/15/99

AMEND

AMEND

TRIARC COMPANIES INC U S WIRELESS DATA INC UNICOMP INC UNIVERSAL CORP IVAI URBANA CA INC URT INDUSTRIES INC UST INC VIATEL INC VIDEO CITY INC VIGNETTE CORP VIRTUAL GAMING TECHNOLOGIES VISIONAMERICA INC VITESSE SEMICONDUCTOR CORP WESTELL TECHNOLOGIES INC WESTERN RESOURCES INC /KSWMC SECURED ASSETS CORP WMC

SS THR CERT SER 1999-A

INC

MORT PA

DE CO CO VA NV FL DE DE DE DE DE DE DE DE KS DE

X X

X

X X

X X X

X X X

X X X

X

X

X X

X

X X

X X X X X X X X

03/30/0003/28/0003/29/0003/29/0001/26/0003/22/0003/29/0003/30/0003/03/0002/15/0012/21/9903/22/0003/27/0003/17/0003/29/0003/27/00

AMEND

WSI INTERACTIVE CORP YORK WATER CO YP NET INC 2THEMART COM INC

PA NV

X X

X X

X 03/27/0003/29/0003/14/0003/22/00

16 NEWS DIGEST, March 31,2000 2B041~ 3,l H3/89I84 " o IRJ '~'