Nutrition Management Services Company Announces Decision to Deregister its Class A Common Stock
February 05 2010 - 4:15PM
PR Newswire (US)
NEW YORK, Feb. 5 /PRNewswire-FirstCall/ -- Nutrition Management
Services Company (the "Company" or "NMSC") (Pink Sheets: NMSCA)
today announced that its Board of Directors unanimously approved
the termination of the registration of its common stock under the
Securities Exchange Act of 1934, as amended. The Company will file
a Form 15 with the Securities and Exchange Commission (the "SEC")
to effect this on or about February 12, 2010. After careful
consideration, the Board of Directors decided to deregister based
on its belief that the savings the Company will achieve as a result
of deregistration, particularly on costs related to the preparation
and filing of SEC reports and compliance with Sarbanes-Oxley
obligations, will benefit shareholders, and such benefits will
outweigh any advantages of continuing as an SEC reporting company.
The obligation of filing SEC reports and complying with
Sarbanes-Oxley has become too burdensome and expensive for a
company of NMSC's size. Upon the filing of the Form 15, the
Company's obligation to file periodic and current reports with the
SEC, including Forms 10-K, 10-Q, and 8-K, will be suspended. The
Company expects that the deregistration will become effective 90
days after the filing of the Form 15. Cautionary Note Regarding
Forward-Looking Statements: Certain statements in this press
release are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and involve known
and unknown risks, uncertainties and other factors that may cause
the Company's actual performance or achievements to be materially
different from the results, performance or achievements expressed
or implied by the forward-looking statement. Nutrition Management
Services Company makes forward-looking statements in this press
release, which represent our expectations or beliefs about future
events and financial performance. Forward-looking statements are
identifiable by words such as "believe," "anticipate," "expect,"
"intend," "plan," "will," "may" and other similar expressions. In
addition, any statements that refer to expectations, projections or
other characterizations of future events or circumstances are
forward-looking statements. These statements are based on current
expectations and are subject to known and unknown risks and
uncertainties, including the risks described in our Annual Report
on Form 10-K for the period ended June 30, 2009 and other filings
we make with the Securities and Exchange Commission. We do not make
any commitment to revise or update any forward-looking statements
to reflect events or circumstances occurring or existing after the
date of any forward-looking statement is made. DATASOURCE:
Nutrition Management Services Company CONTACT: Joseph Roberts,
Chief Executive Officer & Director, +1-610-935-2050
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