[Federal Register Volume 76, Number 56 (Wednesday, March 23, 2011)]
[Notices]
[Page 16462]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-6943]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Heli Electronics Corp., Order of Suspension of 
Trading

March 21, 2011.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Heli Electronics Corp. (``HELI''), a Nevada corporation with 
headquarters and operations in the People's Republic of China, which 
trades in the over-the-counter market under the symbol ``HELI.''
    Questions have arisen regarding the accuracy and completeness of 
information contained in HELI's public filings with the Commission 
concerning, among other things, the company's cash balances and 
accounts receivable. The company has failed to disclose that the 
company's independent auditor has resigned due to accounting 
irregularities involving (a) discrepancies between HELI's accounting 
records for cash balances and official bank statements obtained by the 
auditors from the company's bank, (b) discrepancies concerning the 
existence and location of company customers, and (c) the possibility 
that accounting records could have been falsified. Due to these 
irregularities, the company's auditor has resigned from its engagement 
to audit the company's consolidated financial statements for the year 
ended December 31, 2010, and has withdrawn its audit opinion issued 
June 15, 2010 relating to the audit of the company's consolidated 
financial statements as of December 31, 2009 and 2008.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in the 
securities of the above-listed company.
    Therefore, it is ordered, pursuant to Section 12(k) of the 
Securities Exchange Act of 1934, that trading in the above-listed 
company is suspended for the period from 9:30 a.m. EDT, March 21, 2011, 
through 11:59 p.m. EDT, on April 1, 2011.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-6943 Filed 3-21-11; 4:15 pm]
BILLING CODE 8011-01-P