BUSINESS REGISTRATION DIVISION
DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
STATE OF HAWAII

TO: TIMOTHY M. GRANT

YOU ARE HEREBY NOTIFIED that the Commissioner of Securities of the Department of Commerce and Consumer Affairs, State of Hawaii, issued a Final Order against you on December 4, 2006 alleging that you have violated the Uniform Securities Act, Chapter 485, HRS, and that, therefore, disciplinary action should be taken against you.
You are hereby notified that pursuant to Section 16-201-23 of the Hawaii Administrative Rules for Administrative Practice and Procedure, Respondent may, within ten (10) days after the Preliminary Order to Cease and Desist becomes a Final Order, move the Commissioner to reconsider the Final Order. Additionally, pursuant to Section 485-23, Hawaii Revised Statutes, Respondent may file an appeal with the Circuit Court of the First Circuit of the State of Hawaii in the manner provided in Chapter 91, Hawaii Revised Statutes.
You have the right to retain legal counsel for all stages of these proceedings. Copies of the specific allegations against you are available at the Securities Enforcement Branch, 335 Merchant Street, Room 205, Honolulu, Hawaii 96813, or telephone (808) 586-2740.
DATED: Honolulu, Hawaii, December 4, 2006.

TUNG CHAN
Commissioner of Securities
STATE OF HAWAII
(SB05526224 12/10, 12/17/06)