The Securities and Exchange Commission has instituted public administrative proceedings against Wisdom Homes of America, Inc. (WOFA). The Division of Enforcement alleges that WOFA is delinquent in its periodic filings and has failed to meet its obligations to file timely reports.
The Commission deemed it necessary and appropriate for the protection of investors to determine the respondent’s compliance with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13. The Commission is ordering a public hearing to address allegations in Section III. The Respondent must file an Answer within ten days and conduct a prehearing conference within 14 days. If the parties fail to attend, they may be deemed in default and face proceedings.
The Commission’s Rules of Practice provide for the suspension or revokement of securities registrations for investors. The order will be served upon the Respondent by any means permitted by the Commission’s Rules of Practice. The Commission has decided to serve the interests of justice by requiring electronic filing of opinions, orders, and decisions in administrative proceedings. This will not result in prejudice to any party. The Commission will decide all filings, including those under Rules 210, 221, 222, 230, 231, 232, 233, and 250, and the proceeding will be deemed one under the 30-day timeframe specified in Rule of Practice 360(a)(2)(i).
The Commission will issue a decision based on the record in a proceeding, including items listed at Rule 350(a) and other documents. The Commission will issue a final order after post-hearing briefing, motions for ruling, or default determinations. No officer or employee of the Commission will be permitted to participate or advise in the decision, except as witness or counsel. This proceeding is not “rule-making” under Section 551 of the Administrative Procedure Act and is not subject to Section 553 delaying the effective date of any final Commission action.