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MICHAEL DANIEL GARDNER and GARDNER INSURANCE AGENCY, INC.

The Circuit Court of Pulaski County issued an injunction and order of disgorgement against Michael Daniel Gardner and Gardner Insurance Agency Inc., enjoining the defendants from the offer or sale of securities until both the securities and the defendants are registered or are exempt from registration pursuant to the Arkansas Securities Act.  The defendants were also ordered to disgorge commissions in the amount of $122,365.64 by paying that amount to the Pulaski County Circuit Clerk within thirty days of the date of the order.  The Circuit Clerk is instructed to disburse the funds to investors according to a schedule attached to the order.

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