March 20, 2015
SEC CRMD
IN THE MATTER OF YARN VENTURES RESOURCES, INC.
SEC Registration No. 142932
FOR : Suspension of Certificate of Incorporation for Violation of the Corporation Code of the Philippines and the SEC Rules and Regulations on Reportorial Requirements
ORDER
WHEREAS, the records of this Commission show that, YARN VENTURES RESOURCES, INC., (hereafter referred to as the "corporation"), registered with the Commission on July 29, 1987, under SEC Registration No. 142932, 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 | 1998; 2006-2014 |
| Financial Statements | 2005-2013 |
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,...
