Business ProfileforPermian Basin Proppants Inc

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency.  If the matter is being appealed, it will be noted below.

On June 8, 2022 the U.S. Securities and Exchange Commission ordered, adjudged and decreed Marco "Sully" Perez and Permian Basin Proppants, Inc. to be permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities and Exchange Act of 1934 by using any means of instrumentality of interstate commerce, or of the mails, or any facility of any national securities exchange, in connection with the purchase or sale of any security: to employ any device, scheme, or artifice to defraud; to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading or to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person. 

It is also ordered Marco "Sully" Perez and Permian Basin Proppants, Inc are permanently restrained from offering or the sale of any security by the use of any means or instruments of transportation or communication in interstate commerce or by use of the mails, directly or indirectly to employ any device, scheme, or artifice to defraud, to obtain money or property by means of any untrue statement of a material fact or any omission of a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading or to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.

Unless a registration statement is in effect as a security making use of transportation or communication in interstate commerce or of the mail: a registration statement is in effect as to a security, carrying or causing to be carried through the mails or in interstate commerce, to offer to sell or offer to buy through the use or medium of any prospectus or otherwise any security, unless a registration statement has been filed with the Commission as to the security, or while the registration statement is the subject of a refusal order or stop order or any public proceeding or examination under Section 8 of the Securities Act.

Marco "Sully" Perez  are permanently restrained and enjoined from directly or indirectly, including, but not limited to, through any entity owned or controlled by him.  Mr. Perez is also ordered to pay disgorgement of ill-gotten gains, prejudgment interest and a civil penalty.