March 6, 2015
SEC-CGFD ORDER NO. 036-15
IN THE MATTER OF ALPHALAND BALESIN ISLAND CLUB, INC.
ORDER OF SUSPENSION
Record of this Commission show that ALPHALAND BALESIN ISLAND CLUB, INC. failed to comply with the directives of the Commission to transfer the Certificates of Titles (TCTs) in its name the pieces of land on which the Club's facilities are located, despite due notice and hearing and several extensions.
The Commission, therefore, in its meeting held on 17 February 2015, resolved to suspend the effectivity of the Club's registration statement and Certificate of Permit to Sell Securities to the Public, and to defer the processing of its Amended Registration Statement filed with the Commission on 26 December 2013.
In view of the foregoing, the effectivity of the registration statement and Certificate of Permit to Sell Securities to the Public issued in favor of ALPHALAND BALESIN ISLAND CLUB, INC. are hereby SUSPENDED until it is able to transfer the TCTs of the subject properties in its name and the processing of its Amended Registration Statements be DEFERRED until this Suspension Order is...