EXBX | SEC Terminates Investigation Without Enforcement Action Against ExoBox Technologies

Penny Stock News On The Pink Sheets

Jul 30, 2008 8:02:00 AM
HOUSTON, July 30 /PRNewswire-FirstCall/ -- Exobox Technologies Corp. (Pink Sheets: EXBX)

On July 29, 2008, Stephen Webster, Assistant Director in the Fort Worth office of the United States Securities Exchange Commission ("Commission"), provided a letter to Exobox indicating that the Commission's formal investigation of the Company and its management commenced in 2006 has been terminated ("Termination Letter"). The Termination Letter, addressed to Thomas Pritchard of Brewer & Pritchard, P.C. and Jason Lewis of Locke Lord Bissell & Liddell LLP, the Company's outside securities counsel, states that the Commission's investigation of the Company styled, In the Matter of Exobox Technologies Corp. (FW - 3056), "has been completed as to Exobox Technologies Corp., its Chief Executive Officer, Robert Dillon and its other officers and directors, against whom we do not intend to recommend any enforcement action by the Commission."

Exobox CEO, Robert Dillon, stated that "this welcome action by the Commission is long overdue. Exobox now looks forward to pursuing our long-standing goals and implementing the elements of our business plan which have been hampered by the Commission's investigation."