In conjunction with trading suspension, the Securities and Exchange Commission (SEC) also instituted a 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 Vibe Records, Inc. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement (Division) alleges that the company is delinquent in its required periodic filings with the Commission. In this 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/or 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.

On 12/29/2011, Vibe Records, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Effective September 30, 2011, Vibe Records, Inc. have engaged Michael T Studer CPA PC to audit restated financial statements at and for the fiscal years ended September 30, 2009 and 2008. The company have previously reported engagement of Michael T. Studer CPA P.C. to audit financial statements and for the fiscal year ended September 30, 2010.