SEC NEWS DIGEST Issue 2002-231 December 2, 2002 COMMISSION ANNOUNCEMENTS PUBLIC APPEARANCES OF SENIOR COMMISSION OFFICIALS - DECEMBER 2002 The following is a schedule for December 2002 of the public appearances of SEC officials, including the Chairman, Commissioners, and senior staff members. For additional information on events hosted by groups other than the Commission, please call the contact numbers listed. As events are subject to change, please confirm them with the SEC's Office of Public Affairs or the sponsoring organizations. When: Monday, Dec. 2 Who: Commissioner Harvey J. Goldschmid What: A.A. Sommer, Jr., Corporate, Securities & Financial Law Lecture Where: Fordham University, New York, NY Contact: Jill Fisch, (212) 636-6865 When: Thursday, Dec. 5 Who: Commissioner Harvey J. Goldschmid; Stephen M. Cutler, Director, Division of Enforcement What: Securities Industry Association's Corporate Governance and Research: After the Sarbanes-Oxley Act Where: New York, NY Contact: George Kramer, (202) 296-9410, ext. 1316 When: Friday, Dec. 6 Who Commissioner Harvey J. Goldschmid What: Consumer Federation of America Where: Holiday Inn, Capital Hill, Washington, DC Contact: Adele Ellis, (202) 387-6121 When: Monday, Dec. 9 Who: Paul F. Roye, Director, Division of Investment Management What: ICI's Securities Law Developments Conference Where: Grand Hyatt Hotel, Washington, DC Contact: Gail Robinson, (202) 371-5405 When: Thursday, Dec. 12 Who: Stephen M. Cutler What: AICPA's Conference on Current SEC Developments Where: Washington, DC Contact: Cathy Brosnan, (201) 938-3568 SEC HISTORICAL SOCIETY TO HOST ROUNDTABLE ON INVESTMENT COMPANY REGULATION The Commission and the Securities and Exchange Commission Historical Society will host an Oral Histories Roundtable on Wednesday, Dec. 4, 2002, focusing on investment company regulation. The roundtable will take place from 2:00 - 5:00 p.m. EST in the William O. Douglas Room at the Commission headquarters building, 450 5th Street, N.W., Washington, D.C. The co-moderators will be Kathryn McGrath, director of the Division of Investment Management from 1983 to 1989, and David Silver, retired head of the Investment Company Institute. Panelists will include Paul Roye, current director of the Division of Investment Management; Allan Mostoff, Anne Jones, Joel Goldberg, Marianne Smythe and Barry Barbash, former directors of the Division; John Dudley and Martin Lybecker, former associate directors of the Division; Alan Rosenblat, former Chief Counsel of the Division; Stanley Judd, formerly with the Division's Office of Chief Counsel; and Edward O'Dell, who worked with mutual fund issues in the Division of Corporation Regulation. Topics to be discussed will include the Wharton School report, Public Policy Implications; Section 17 and the 1970 Amendments of the Investment Company Act of 1940; Rules 2a-7, 12b-1, 17d-1, 22c-1 and other regulations; variable products, advertising regulation, management fee litigation, and corporate governance; regulation under the Investment Advisers Act of 1940; and the Commission's inspection program and enforcement activities. The SEC Historical Society will offer a live audio-stream of the event on its Web site at www.sechistorical.org. As usual, the Roundtable will be videotaped and placed in the virtual archives of the Historical Society. It will also be audio-cast on the SEC's Web site at www.sec.gov. The Society, founded in 1999, works to preserve the history of the SEC, sponsors research and educational programs regarding the Commission, and strives to enhance understanding of the development of the U.S. and world capital markets. The roundtable will be open to members of the Society, all SEC staff members, the press and invited guests. For further information, please contact the Historical Society by email at c.rosati@sechistorical.org. (Press Rel. 2002-172) ENFORCEMENT PROCEEDINGS COMMISSION APPROVES PAYMENT OF DISGORGEMENT TO BANKRUPTCY TRUSTEE On Nov. 20, 2002, the Commission approved a disgorgement plan directing that $25,000 disgorged by Financial Asset Management, Inc. (FAM) in an administrative proceeding styled In the Matter of Financial Asset Management, Inc., et al., be paid to the Chapter 11 Bankruptcy Trustee for the Manhattan Investment Fund, Ltd. (Fund), for further distribution to the Fund's creditors in accordance with the provisions of the United States Bankruptcy Code. The disgorgement arose out of FAM's conduct in causing securities law violations committed by Michael W. Berger, the Fund and Manhattan Capital Management, Inc. (Rels. 33-8153; 34-46928; IA-2087; File No. 3-10670) SEC OBTAINS IMMEDIATE RELIEF AGAINST THOMAS FLETCHER & CO. INC. IN CONNECTION WITH FRAUDULENT UNREGISTERED OFFERING THAT RAISED OVER $2.5 MILLION FROM INVESTORS On Nov. 22, 2002, upon application by the Commission, the Honorable Deborah A. Batts issued an order: (a) temporarily restraining defendants from engaging in further violations of the antifraud provisions of the federal securities laws; (b) freezing the assets of Thomas Fletcher & Co. Inc. (Thomas Fletcher) and Thomas Fletcher & Company Inc. (TFC); (c) requiring defendants to provide a sworn accounting of their assets and the monies raised from investors; (d) prohibiting defendants from destroying documents; and (e) allowing expedited discovery. A hearing on the Commission's application for a preliminary injunction and continuation of the asset freezes is scheduled for early December 2002. The Commission filed an injunctive action on Friday, Nov. 22, 2002 in the United States District Court for the Southern District of New York alleging that Thomas Fletcher conducted a fraudulent unregistered offering that raised over $2.5 million from at least 32 investors. Sergei Voronchenko, the President and Director of Thomas Fletcher and Roman Thaker, the Secretary and Treasurer of Thomas Fletcher, were responsible for a false and misleading private offering memorandum. In addition, an affiliated broker-dealer, TFC, and its registered representatives, Alex Berg, John Donadio, and Padraig McGlynn made oral misrepresentations to investors to induce them to purchase Thomas Fletcher securities. The Commission alleges that through this conduct, Thomas Fletcher, TFC, Voronchenko, Thaker, Berg, Donadio, and McGlynn violated 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934. For further information, see Litigation Release No. 17857 (Nov. 22, 2002). [SEC v. Thomas Fletcher & Co. Inc., et al.; 02-9355 CV, SDNY] (LR-17867) 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, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . SB-2 SKYFRAMES INC, 24351 PASTO ROAD, SUITE B, DANA POINT, CA, 92629, 9494892400 - 2,370,150 ($23,701.50) Equity, (File 333-101572 - Nov. 29) (BR. 09) S-8 ALBERTO CULVER CO, 2525 ARMITAGE AVE, MELROSE PARK, IL, 60160, 7084503039 - 0 ($7,462,500.00) Equity, (File 333-101573 - Nov. 29) (BR. 02) S-3 SEA CONTAINERS LTD /NY/, 41 CEDAR AVE, P O BOX HM 1179, HAMILTON HM EX BERMU, D0, 4412952244 - 0 ($16,087,500.00) Equity, (File 333-101574 - Nov. 29) (BR. 05) SB-2 IGUANA VENTURES LTD, 1500 WEST GEORGIA ST, SUITE 1400, VANCOUVER, A1, V6G 2Z6, 6046813533 - 4,554,000 ($227,700.00) Equity, (File 333-101575 - Nov. 29) (BR. ) S-4 BLACK HILLS CORP /SD/, 625 9TH STREET, PO BOX 1400, RAPID CITY, SD, 57709, 6057212343 - 0 ($11,413,704.00) Equity, (File 333-101576 - Nov. 29) (BR. 02) S-4 SAFENET INC, 8029 CORPORATE DRIVE, BALTIMORE, MD, 21236, 4109317500 - 0 ($42,990,990.00) Equity, (File 333-101577 - Nov. 29) (BR. 37) S-8 CALYPTE BIOMEDICAL CORP, 1265 HARBOR BAY PARKWAY, ALAMEDA, CA, 94502-, 5107495100 - 30,550,000 ($1,527,500.00) Other, (File 333-101578 - Nov. 29) (BR. 36) SB-2 MONTANA MINING CORP, 1403 EAST 900 SOUTH, SALT LAKE CITY, UT, 84105, 8015829609 - 6,312,900 ($63,129.00) Equity, (File 333-101579 - Nov. 29) (BR. 09) SB-2 VIANET TECHNOLOGIES INC, 6509 WINDCREST DRIVE SUITE 160, PLANO, TX, 75024, 2122197680 - 321,089,738 ($2,568,718.00) Equity, (File 333-101580 - Nov. 29) (BR. 03) S-8 FAIRCHILD INTERNATIONAL CORP, 595 HORNBY STREET STE 600, VANCOUVER BRITISH COLUMBIA, CANADA V6B 2W5, A1, 00000, 6046691040 - 625,000 ($14,375.00) Equity, (File 333-101581 - Nov. 29) (BR. 09) F-10 HURRICANE HYDROCARBONS LTD, #1460 SUN LIFE PLAZA NORTH TOWER, 140 - 4TH AVENUE S.W., CALGARY, A0, T2P 3N3, 4032218435 - 0 ($84,480,000.00) Other, (File 333-101582 - Nov. 29) (BR. 04) F-3 CRYSTALLEX INTERNATIONAL CORP, 579 RICHMOND ST WEST, STE 301, TORONTO, A6, M5Z 1Y6, 4162032448 - 358,596 ($736,672.00) Equity, (File 333-101583 - Nov. 29) (BR. 04) S-8 UNIVERSAL BROADBAND COMMUNICATIONS INC, 18200 VON KARMAN AVENUE, 10TH FLOOR, IRVINE, CA, 92612, 949-567-1880 - 3,000,000 ($1,500,000.00) Equity, (File 333-101584 - Nov. 29) (BR. 09) S-3 DUANE READE INC, 440 NINTH AVE, NEW YORK, NY, 10001, 2122735700 - 0 ($1,658,700.00) Equity, (File 333-101586 - Nov. 29) (BR. 01) 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 FD Disclosure. The following companies have filed 8-K reports for the date indicated and/or amendments to 8-K reports previously filed, responding to the item(s) of the form specified. 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE 1 2 3 4 5 6 7 8 9 DATE COMMENT ------------------------------------------------------------------------------------ 3W CYBER LOGISTICS INC NV X 11/29/02 AIRSPAN NETWORKS INC WA X X 11/25/02 BEAR STEARNS ASSET BACKED FUNDING INC DE X X 11/29/02 CENDANT MORTGAGE CAPITAL CDMC MORT PA DE X 11/25/02 CENDANT MORTGAGE CAPITAL CDMC MORT PA DE X 11/25/02 CENDANT MORTGAGE CAPITAL LLC DE X 11/25/02 CENDANT MORTGAGE CAPITAL LLC DE X 11/25/02 CLICKACTION INC DE X 11/21/02 COMMUNITY BANCSHARES INC /DE/ DE X 11/27/02 CORAM HEALTHCARE CORP DE X 11/27/02 CWMBS INC DE X X 11/26/02 CWMBS INC DE X X 11/26/02 CWMBS INC DE X X 11/27/02 CWMBS INC DE X X 11/27/02 CWMBS INC DE X X 11/29/02 CWMBS INC DE X X 11/29/02 CWMBS INC DE X X 11/29/02 CWMBS INC DE X X 11/29/02 CWMBS INC DE X 11/29/02 CWMBS INC DE X 11/29/02 CWMBS INC DE X 11/29/02 DEVELOPED TECHNOLOGY RESOURCE INC MN X X 11/26/02 DUANE READE INC DE X 11/29/02 ELEC COMMUNICATIONS CORP NY X 11/26/02 FIRST FEDERAL FINANCIAL CORPORATION O KY X 10/22/02 FIVE STAR QUALITY CARE INC X X 11/27/02 GENEVA STEEL HOLDINGS CORP X 08/31/02 AMEND GOLDEN STAR RESOURCES LTD X 09/13/02 AMEND GS MORTGAGE SECURITIES CORP MORT PAS DE X X 11/25/02 HASBRO INC RI X X 11/29/02 HFC REVOLVING CORP HOUSEHOLD HOME EQ DE X X 11/14/02 IDEC PHARMACEUTICALS CORP / DE DE X 11/29/02 IMPCO TECHNOLOGIES INC DE X X 11/29/02 INNOVATIVE TECHNOLOGY ACQUISITION COR DE X X 11/05/02 INTERCALLNET INC NV X X X 11/26/02 INTERNATIONAL COMMERCIAL TELEVISION I X X 11/14/02 LYNCH INTERACTIVE CORP DE X 11/29/02 MERRILL LYNCH & CO INC DE X X 11/29/02 MONARCH DENTAL CORP DE X X 11/27/02 NEXTEL PARTNERS INC DE X 11/22/02 NIAGARA MOHAWK POWER CORP /NY/ NY X 11/29/02 NTELOS INC VA X X 11/29/02 PEERLESS SYSTEMS CORP DE X X 11/12/02 PYR ENERGY CORP DE X X 11/29/02 QWEST CORP CO X 11/08/02 RAWLINGS SPORTING GOODS CO INC DE X X 11/27/02 RYDER VEHICLE LEASE TRUST 2001 A X X 11/13/02 SALOMON BROS MORT SEC VII SAL HOME EQ DE X 11/25/02 SALOMON MORTGAGE LOAN TRUST SER 2002- DE X 11/25/02 SENIOR HOUSING PROPERTIES TRUST MD X X 11/27/02 SPRINGHILL LAKE INVESTORS LTD PARTNER MD X X 11/14/02 STRUCTURED ASSET SEC CORP MORT PAS TH DE X X 11/25/02 STRUCTURED ASSET SEC CORP MORT PAS TH DE X X 11/25/02 STRUCTURED ASSET SEC CORP MORT PASS T DE X X 11/25/02 STRUCTURED ASSET SEC CORP MORT PASS T DE X X 11/25/02 STRUCTURED ASSET SEC MORT PASS THRU C DE X X 11/25/02 STRUCTURED ASSET SECURITIES CO MOR PA DE X 10/25/02 STRUCTURED ASSET SECURITIES CO MOR PA DE X 11/25/02 STRUCTURED ASSET SECURITIES CORP MOR DE X 11/25/02 STRUCTURED ASSET SECURITIES CORP MORT DE X X 11/25/02 STRUCTURED ASSET SECURITIES CORP MORT DE X X 11/25/02 TODHUNTER INTERNATIONAL INC DE X X 11/26/02 TOYOTA MOTOR CREDIT CORP CA X X 11/15/02 TOYOTA MOTOR CREDIT CORP CA X X 11/15/02 VANGUARD HEALTH SYSTEMS INC DE X 10/08/02 AMEND WESTPAC SECURITISATION MGT PTY LTD SE X 11/19/02 ZAMBA CORP DE X 11/22/02 ZONES INC WA X X 11/27/02