Businessweek

OBN Holdings, Inc. announced that it has filed Form 15 with the Securities and Exchange Commission to voluntarily deregister its common shares of par value $0.0001 per share under the Securities Exchange Act of 1934, as amended.

In conjunction with trading suspension, the Securities and Exchange Commission (SEC) also instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of OBN Holdings, Inc. for failure to make required periodic filings with the Commission. In the Order, the Division of Enforcement (Division) alleges that the company is delinquent in its required periodic filings with the Commission. In these proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in the proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.

OBN Holdings, Inc. Presents at BioTrinity 2012 Conference, Apr-24-2012 . Venue: Newbury Racecourse, Newbury, Berkshire, United Kingdom.