STATE OF MAINE SECURITIES DIVISION 121 STATE HOME FACILITY AUGUSTA, ME 04333

Today IN RE David Elliot L’Hoir, PayDay! Today U.S.A. Inc. and PayDay! U.S.A. Com, Inc.

NOTICE OF INTENT TO ISSUE CEASE AND DESIST PURCHASE 01-073

David Elliot L’Hoir (hereinafter described as “L’Hoir”) may be the creator and President that is current and Executive Officer of PayDay Today! U.S.A. Inc. and PayDay Today! U.S.A. Com, Inc. (hereinafter collectively referred to as “PayDay”). PayDay is pursuant that is incorporated the regulations associated with the State of Nevada. PayDay runs a chain of economic facilities in Southern Ca and contains a loan that is national center in Fort Lauderdale, Florida. PayDay runs through an internet internet site address at and advertises it self as having retail-affiliated stores nationwide.

These loans are tiny, short term loans that want payment within a time period that is relatively short. The consumer provides PayDay with a personal check and receives cash less the interest and fees charged by PayDay in a payDay loan transaction. The check will be held for a scheduled period of the time, generally speaking before the consumer’s next payday, or a single or period that is two-week thus the word “payday” loan. PayDay individuals are charged annual charges that normal 360% of this financial obligation principal.

In or just around March 2001, a Maine resident was solicited by phone by L’Hoir to take a position monies in PayDay.

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Briefly thereafter, this Maine resident received within the mail a package of investment product associated with PayDay. In this material, L’Hoir represented which he ended up being providing a “4% monthly return collateralized by receivable (client Checks)” in substitution for the very least investment in PayDay of $10,000. L’Hoir further represented he ended up being seeking investors in purchase to boost money of $2,000,000 for PayDay. Pursuant to L’Hoir’s investment scheme, investors get an email and retain the choice of retiring this note provided ninety days’ notice is provided.

By page dated March 15, 2001, the Maine resident who was simply solicited by L’Hoir, penned to your Securities Division to advise of L’Hoir’s solicitation and offered the Securities Division using the package delivered by L’Hoir.

As a consequence of becoming conscious of this solicitation, the Securities Division penned to L’Hoir by page dated April 30, 2001 notifying him that, pursuant towards the Revised Maine Securities Act, 32 M.R.S.A. 10101 et seq. (“the Act”), its illegal for anybody to offer or provide to market any protection in Maine unless the security is registered, or perhaps the safety or deal is exempt from enrollment beneath the Act. The Securities Division further notified L’Hoir that it’s also illegal underneath the Act to transact company in Maine as a broker-dealer or product sales agent unless exempt or licensed from certification. Additionally, the Securities Division notified L’Hoir that misrepresentations and omissions of product reality built in reference to an sale and offer of securities constitute fraudulence beneath the Act.

In this page, the Securities Division requested L’Hoir to examine their records and supply the Securities Division with a listing of all Maine residents with who L’Hoir has already established contact anytime associated with the offer or purchase of PayDay records.

Additionally, the Securities Division notified L’Hoir that, he should cease soliciting sales of PayDay notes until he complied with Maine law.

L’Hoir has neglected to answer the Securities Division’s page dated April 30, 2001. In specific, L’Hoir has did not supply the Securities Division with a summary of all Maine residents with who L’Hoir has already established contact regarding the the sale or offer of PayDay records or an assurance he will stop soliciting Maine residents for product sales of PayDay records.

The solicitation and pooling of investors’ monies using the expectation that the investors will get a return to their monies as a result of buying PayDay comprises a good investment agreement. A good investment contract is a security under 32 M.R.S.A. §10501 (18).

It really is illegal to supply or offer any safety in Maine unless the protection is registered, is exempt from enrollment or perhaps is a federal covered protection under 32 M.R.S.A. В§10401.

The Securities Division does not have any record that PayDay securities have already been registered for offer or purchase in Maine. Moreover, the Securities Division isn’t conscious of any exemption that is applicable enrollment which is why PayDay securities might qualify, nor would be the securities federal covered securities.

It really is illegal for just about any individual to transact company in Maine as a broker-dealer in Maine unless the broker-dealer is exempt or licensed from licensing under 32 M.R.S.A. В§10301(2). The Securities Division doesn’t have record that either L’Hoir or PayDay is certified as a broker-dealer in Maine.

It really is illegal for just about any individual to transact business in Maine as a sales agent unless exempt or licensed from licensing under 32 M.R.S.A. В§10301 (2). The Securities Division doesn’t have record that L’Hoir is certified as a sales agent in Maine which is maybe not conscious of any applicable exemption from certification which is why he may qualify.

Pursuant to 32 M.R.S.A. §10708, notice is hereby considering the fact that the Securities Administrator promises to issue a purchase to Cease and Desist pursuant to 32 M.R.S.A. §10602(1)(A) against L’Hoir and PayDay to prohibit further violations associated with Revised Maine Securities Act.

Pursuant to 32 M.R.S.A. § 10708(2), L’Hoir and PayDay have actually thirty (30) calendar times through the entry with this Notice of Intent to register a written ask for a hearing.

Christine A. Bruenn ________________________________

Christine A. Bruenn Securities Administrator