Report
Moregain Pictures Inc
120 S Victory Blvd Ste 205
Phone: (626) 319-6216p:626 319-6216 BURBANK, CA  91502-2899  United States Ticker: ALADALAD

This company is no longer actively traded on any major stock exchange.


SEC Issues Order Involving Moregain Pictures


WASHINGTON, June 12 -- The Securities and Exchange Commission issued the following order (Admin. Proc. File No. 3-20303) involving Moregain Pictures:

In the Matter of MOREGAIN PICTURES, INC.

ORDER TO SHOW CAUSE

The Securities and Exchange Commission ("Commission") issued an Order Instituting Proceedings ("OIP") on May 12, 2021, pursuant to Section 12(j) of the Securities Exchange Act of 1934, against respondent Moregain Pictures, Inc. ("Respondent")./1

On June 2, 2021, the Division of Enforcement filed a Declaration of Sandhya C. Harris, which established that, pursuant to Commission Rule of Practice 141(a)(2)(ii),/2 service of the OIP was made on Respondent on May 17, 2021.

As stated in the OIP, Respondent's answer was required to be filed within ten days of the service of the OIP./3

As of the date of this order, Respondent has not filed an answer. The prehearing conference and hearing are thus continued indefinitely.

Accordingly, Respondent is ORDERED to SHOW CAUSE by June 25, 2021, why the registration of its securities should not be revoked by default due to its failure to file an answer and to otherwise defend this proceeding. When a party defaults, the allegations in the OIP will be deemed to be true and the Commission may determine the proceeding against that party upon consideration of the record without holding a public hearing.

If Respondent fails to respond to this order to show cause, it may be deemed in default, the proceeding may be determined against it, and the registration of its securities may be revoked./4

Upon review of the filings in response to this order, the Commission will either direct further proceedings by subsequent order or issue a final order resolving the matter.

The parties' attention is called to the Commission's March 18, 2020 order regarding the filing and service of papers, which provides that pending further order of the Commission parties to the extent possible shall submit all filings electronically at apfilings@sec.gov./5

Also, the Commission's Rules of Practice were recently amended to include new e-filing requirements, which took effect on April 12, 2021./6

For the Commission, by the Office of the General Counsel, pursuant to delegated authority.

Vanessa A. Countryman, Secretary

* * *

Footnotes:

1/ Moregain Pictures, Inc., Exchange Act Release No. 91879, 2021 WL 1931177 (May 12, 2021).

2/ 17 C.F.R. Sec. 201.141(a)(2)(ii).

3/ Moregain Pictures, Inc., 2021 WL 1931177, at *2; Rules of Practice 151(a), 160(b), 220(b), 17 C.F.R. Sec.Sec. 201.151(a), 201.160(b), 201.220(b).

4/ Rules of Practice 155, 180, 17 C.F.R. Sec.Sec. 201.155, 201.180; see Moregain Pictures, Inc., 2021 WL 1931177, at *2 ("If Respondent fails to file the directed Answer, . . . [it] may be deemed in default and the proceedings may be determined against [it] . . . .").

5/ Pending Administrative Proceedings, Exchange Act Release No. 88415, 2020 WL 1322001 (Mar. 18, 2020), https://www.sec.gov/litigation/opinions/2020/33-10767.pdf.

6/ Amendments to the Commission's Rules of Practice, Exchange Act Release No. 90442, 2020 WL 7013370 (Nov. 17, 2020), 85 Fed. Reg. 86,464, 86,474 (Dec. 30, 2020); Instructions for Electronic Filing and Service of Documents in SEC Administrative Proceedings and Technical Specifications, https://www.sec.gov/efapdocs/instructions.pdf. The amendments also impose other obligations on parties to administrative proceedings such as a new redaction and omission of sensitive personal information requirement. Amendments to the Commission's Rules of Practice, 85 Fed. Reg. at 86,465-81.


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