Remote Dynamics Files Form 15 With Securities and Exchange Commission
February 26 2010 - 11:00AM
Marketwired
Remote Dynamics, Inc. (OTCBB: RMTD) (the "Company") today announced
that it has filed a Form 15 with the Securities and Exchange
Commission ("SEC") to voluntarily deregister the Company's common
stock and suspend its reporting obligations under the Securities
Exchange Act of 1934. The Company expects the deregistration to
become effective within 90 days of filing with the SEC; however, it
will no longer file current or periodic reports with the SEC,
effective immediately.
As a result of deregistration, the Company's common stock will
not be eligible for trading on any national exchange or the OTC
Bulletin Board; however, the common stock may be eligible for
quotation on the Pink Sheets by broker dealers. There can be no
certainty of such quotations in the future unless market-makers
continue supporting a market in the Company's shares. The Company's
Board of Directors determined that the costs and other burdens of
remaining a public company outweigh the advantages to the Company
and its shareholders based on a number of factors including:
-- The Company's small shareholder base (less than 40 shareholders of
record)
-- The nature and extent of trading in the Company's stock
-- The valuation the market is placing on the stock
-- The significant costs, both direct and indirect, of preparing and filing
the periodic reports and forms a public company is required to file with
the SEC
-- The substantial increases in those costs arising from the implementation
and maintenance of new requirements imposed by the Sarbanes-Oxley Act of
2002
As a result of deregistration, the Company will no longer file
certain reports and forms with the SEC, including forms 10-K, 10-Q
and 8-K.
About Remote Dynamics, Inc.: Remote Dynamics, Inc. markets,
sells and supports a state-of-the-art asset tracking and fleet
management solution that contributes to higher customer revenues,
enhanced operator efficiency and improved cost control. Combining
the technologies of the global positioning system (GPS) and
wireless communications, the company's solution improves our
customers' operating efficiencies through real-time status
information, exception-based reporting, and historical analysis.
The company is based in Plano, Texas. More information about Remote
Dynamics is available online at www.remotedynamics.com.
Contact: Gary Hallgren Chief Executive Officer 214-440-5202
Email Contact www.remotedynamics.com
Remote Dynamics (CE) (USOTC:RMTD)
Historical Stock Chart
From Dec 2024 to Jan 2025
Remote Dynamics (CE) (USOTC:RMTD)
Historical Stock Chart
From Jan 2024 to Jan 2025