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UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 82998 / April 5, 2018

INVESTMENT ADVISERS ACT OF 1940

Release No. 4874 / April 5, 2018

ADMINISTRATIVE PROCEEDING

File No. 3-18422

In the Matter of

JOSHUA D. MOSSHART, 

Respondent.

ORDER INSTITUTING ADMINISTRATIVE 

PROCEEDINGS PURSUANT TO SECTION 

15(b) OF THE SECURITIES EXCHANGE 

ACT OF 1934 AND SECTION 203(f) OF THE 

INVESTMENT ADVISERS ACT OF 1940 

AND NOTICE OF HEARING 

I.

The Securities and Exchange Commission (“Commission”) deems it appropriate and in the 

public interest that public administrative proceedings be, and hereby are, instituted pursuant to 

Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Section 203(f) of the 

Investment Advisers Act of 1940 (“Advisers Act”) against Joshua D. Mosshart (“Respondent”). 

II.

After an investigation, the Division of Enforcement alleges that:

A. RESPONDENT

1. From May 2011 until he resigned from the company in April 2013, 

Respondent raised money for Enviro Board Corporation (“Enviro Board”), referring at least 18 

individuals who invested nearly $5 million in the company. For a portion of the time in which he 

engaged in the conduct underlying the complaint described below, Respondent was also a 

registered representative associated with LPL Financial LLC (“LPL”), a registered broker-dealer 

and investment adviser. Respondent, 45 years old, is a resident of Malibu, California.
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B. ENTRY OF THE INJUNCTION/RESPONDENT’S CRIMINAL CONVICTION

2. On March 22, 2018, a final judgment was entered against Respondent, 

permanently enjoining him from future violations of Sections 5(a) and 5(c) of the Securities Act of 

1933 (“Securities Act”), and Section 15(a) of the Exchange Act, in the civil action entitled 

Securities and Exchange Commission v. Enviro Board Corporation, et al., Civil Action Number 

2:16-cv-06427-R-SS, in the United States District Court for the Central District of California. 

3. The Commission’s complaint alleged that Enviro Board engaged in a 

fraudulent and unregistered securities offering. The complaint further alleged that Enviro Board 

intended to profit from its properitary mill technology, which recycled agricultural waste fiber into 

low-cost, environmentally-friendly building matterials. According to the Commission’s complaint, 

however, Enviro Board consistently failed to successfully commercialize its technology, and the 

company raised funds through misleading financial projections and other misrepresentations about 

the status of its commercialization efforts. The complaint also alleged that beginning in May 2011, 

Mosshart referred at least 18 individuals to Enviro Board, who purchased nearly $5 million of the 

company’s securities. Although Mosshart was paid commissions on those sales of Enviro Board 

securities, he was not acting within the scope of his employment with LPL since the firm was 

unaware and did not approve of his conduct, and was not supervising him for purposes of his sale 

of Enviro Board securities. 

III.

In view of the allegations made by the Division of Enforcement, the Commission deems it 

necessary and appropriate in the public interest that public administrative proceedings be instituted 

to determine:

A. Whether the allegations set forth in Section II hereof are true and, in connection 

therewith, to afford Respondent an opportunity to establish any defenses to such allegations; 

B. What, if any, remedial action is appropriate in the public interest against Respondent 

pursuant to Section 15(b) of the Exchange Act; 

C. What, if any, remedial action is appropriate in the public interest against Respondent 

pursuant to Section 203(f) of the Advisers Act; and

D. Whether, pursuant to Section 15(b) of the Exchange Act, it is appropriate and in 

the public interest to suspend or bar Respondent from participating in any offering of penny 

stock, including: acting as a promoter, finder, consultant, agent or other person who engages in 

activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny 

stock; or inducing or attempting to induce the purchase or sale of any penny stock.
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IV.

IT IS ORDERED that a public hearing for the purpose of taking evidence on the questions 

set forth in Section III hereof shall be convened at a time and place to be fixed, and before an 

Administrative Law Judge to be designated by further order as provided by Rule 110 of the 

Commission's Rules of Practice, 17 C.F.R. § 201.110.

IT IS FURTHER ORDERED that Respondent shall file an Answer to the allegations 

contained in this Order within twenty (20) days after service of this Order, as provided by Rule 220 

of the Commission's Rules of Practice, 17 C.F.R. § 201.220. 

If Respondent fails to file the directed answer, or fails to appear at a hearing after being duly 

notified, the Respondent may be deemed in default and the proceedings may be determined against 

him upon consideration of this Order, the allegations of which may be deemed to be true as 

provided by Rules 155(a), 220(f), 221(f) and 310 of the Commission's Rules of Practice, 17 C.F.R. 

§§ 201.155(a), 201.220(f), 201.221(f) and 201.310.

This Order shall be served forthwith upon Respondent as provided for in the Commission’s 

Rules of Practice. 

IT IS FURTHER ORDERED that, pursuant to Rule 360(a)(2) of the Commission’s Rules 

of Practice, 17 C.F.R. § 201.360(a)(2), the Administrative Law Judge shall issue an initial decision 

no later than 75 days from the occurrence of one of the following events: (A) The completion of 

post-hearing briefing in a proceeding where the hearing has been completed; (B) Where the 

hearing officer has determined that no hearing is necessary, upon completion of briefing on a 

motion pursuant to Rule 250 of the Commission’s Rules of Practice, 17 C.F.R. § 201.250; or (C) 

The determination by the hearing officer that a party is deemed to be in default under Rule 155 of 

the Commission’s Rules of Practice, 17 C.F.R. § 201.155 and no hearing is necessary. 

In the absence of an appropriate waiver, no officer or employee of the Commission engaged 

in the performance of investigative or prosecuting functions in this or any factually related 

proceeding will be permitted to participate or advise in the decision of this matter, except as witness 

or counsel in proceedings held pursuant to notice. Since this proceeding is not “rule making” within 

the meaning of Section 551 of the Administrative Procedure Act, it is not deemed subject to the 

provisions of Section 553 delaying the effective date of any final Commission action.

For the Commission, by its Secretary, pursuant to delegated authority.

Brent J. Fields

Secretary