WASHINGTON, June 27 (Reuter) - A California company that sells energy-saving solar panels has received Securities and Exchange Commission approval to trade its stock over the Internet, extending the boundaries of off-exchange trading into cyberspace. The approval, the first the SEC has issued on stock trading over the Internet, was given earlier this week to Ukiah, Calif.-based Real Goods Trading Corp., through a ``no action'' letter. In such a letter, the SEC allows a petitioning company to perform what it requested to do, without fear of any enforcement action. In approving Real Goods' request, however, the agency imposed conditions in the interest of investor protection. John Schaeffer, president, chief executive and founder of the company said in an interview he hoped to get the new system operational ``within a couple of weeks.'' Schaeffer said that since 1991, his company has sold $4.6 million of its company's stock to the public through direct, small offerings and without having to pay fees to investment bankers. ``The 'off the grid' trading of our stock is a logical extension of our service to our customers, who will now be able to buy and sell our security without going through a broker,'' Schaeffer said. ``This is also consistent with our mission of creating independent energy alternatives for our customers,'' he added. Real Goods is currently traded thinly on the Pacific Stock Exchange, at a price range of between $5 to $7 in 1995. The stock closed at $7.25 on June 26. In its application, the company said its system would function as a passive Internet bulletin board that will provide the names, addresses, including E-mail, and phone numbers of interested buyers and sellers and number of shares offered for sale or desired to be purchased. Those participating may transmit the information through the company's World Wide Web site or by telephone, fax, mail or E-mail. Real Goods will then enter the data into the system. Real Goods posted a loss of $175,000 last year on sales of $15.3 million, Schaeffer said. ``We expect to be profitable this year,'' he said, adding he estimates sales to climb to about $20 million. Earlier this year, the SEC permitted Spring Street Brewery Co., of New York, to make an initial public offering over the Internet. The agency asked the company to suspend trading, pending review of legal implications of such a trading system. Spring Street subsequently said it planned to establish an online stock exchange through a unit. _______________________ Regards, Democracy is where you can say what you think even if you don't think. - Joseph Reagle http://rpcp.mit.edu/~reagle/home.html reagle@mit.edu E0 D5 B2 05 B6 12 DA 65 BE 4D E3 C1 6A 66 25 4E