Temporary Order: In the Matter of Systematech Solutions Inc.,

Order
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IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED

- AND -

SYSTEMATECH SOLUTIONS INC., APRIL VUONG AND HAO QUACH

TEMPORARY ORDER
Subsections 127(1) & 127(5)

 

 

    WHEREAS it appears to the Ontario Securities Commission (the “Commission”) that:

 

 

  1. Systematech Solutions Inc. (“Systematech”) is an Ontario corporation located in Mississauga and has never been a reporting issuer or registered with the Commission in any capacity;
  2. April Vuong (“Vuong”) is an Ontario resident, a director and officer of Systematech, and is not registered with the Commission in any capacity;
  3. Hao Quach (“Quach”) is an Ontario resident, a director and officer of Systematech, and is not registered with the Commission in any capacity;
  4. Staff of the Commission are conducting an investigation into the activities of Systematech, Vuong and Quach;
  5. Vuong has been soliciting investors to provide funds to Systematech for Vuong to trade in securities for the investors’ benefit;
  6. Ontario investors have provided funds to Systematech;
  7. Systematech, Vuong and Quach may have distributed securities in the form of promissory notes without filing a preliminary prospectus or a prospectus and without the Director issuing a receipt in respect of Systematech, contrary to subsection 53(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act");
  8. No exemptions to the prospectus requirements apply to the distribution of Systematic promissory notes;
  9. Systematech, Vuong and Quach may have traded in securities and, in the case of Vuong, may have advised clients, without the necessary registration or an appropriate registration exemption, contrary to section 25 of the Act;
  10. Systematech, Vuong and Quach may have perpetrated a fraud on Ontario investors, contrary to section 126.1 of the Act;
  11. Vuong and Quach may have authorized, permitted or acquiesced in breaches of Ontario securities law by Systematech, contrary to section 129.2 of the Act;

    AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in subsection 127(5) of the Act;

    AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

    AND WHEREAS by Commission Order made July 14, 2011, pursuant to section 3.5(3) of the Act, any one of Howard I. Wetston, James E. A. Turner, Kevin J. Kelly, James D. Carnwath, Mary G. Condon, Paulette L. Kennedy, Vern Krishna, Christopher Portner and Edward P. Kerwin, acting alone, is authorized to make Orders under section 127 of the Act;

    IT IS ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading in securities by Systematech, Vuong and Quach shall cease;

    IT IS FURTHER ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading in securities of Systematech shall cease;

    IT IS FURTHER ORDERED pursuant to subsection 127(6) of the Act that this Order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by Order of the Commission.

    Dated at Toronto this 15th day of December, 2011

 

" Howard I. Wetston "