EDMONDS, Washington, May 15, 2017 /PRNewswire/ —
Neah Power Systems, Inc. (OTC: NPWZ) (“NEAH” or the “Company”) appear today that it filed a Form 15 with the Balance and Exchange Commission (“SEC”) to voluntarily append its advertisement obligations beneath the Balance Exchange Act of 1934, as adapted (the “Exchange Act”). As a aftereffect of this filing, the Company’s obligations to book assertive letters with the SEC, including annual, annual and accepted letters on Form 10-K, Form 10-Q and Form 8-K, respectively, was anon suspended.
The Company’s Board of Directors advised abounding factors afore acknowledging the autonomous suspension, including the ample costs of filing and advancing alternate letters for the SEC, the added alfresco accounting, audit, acknowledged and added costs and costs associated with actuality a accessible advertisement company, the burdens placed on administration to accede with the Exchange Act advertisement requirements, and the low trading aggregate in the Company’s accepted stock.
Commenting on the Form 15 filing, Dr. Chris D’Couto, the Company’s Chief Executive Officer said: “In ablaze of our admeasurement and bazaar capitalization, the abundant amount accumulation and the charge for our administration aggregation to focus their efforts on the Company’s amount business activities, we have, afterwards accurate consideration, assured that it is in the best absorption of the shareholders, advisers and the aggregation to append our SEC reporting.”
As a aftereffect of the filing of the Form 15, there can be no assurances that any trading bazaar for the Company’s accepted banal will advance or be maintained afterwards the suspension.
Safe Harbor Statement:
Certain of the statements independent herein may be, aural the acceptation of the federal balance laws, “forward-looking statements,” which are accountable to risks and uncertainties that could account absolute after-effects to alter materially from those declared in the advanced statements, and the Aggregation does not undertake any albatross to amend any of these statements in the future. Please apprehend Neah Power System’s Form 10-K for the budgetary year concluded September 30, 2015 and its Annual Letters on Form 10-Q filed with the SEC during budgetary 2015 for a altercation of such risks, uncertainties and added factors.
Contact:Phone: 1-(425)-424-3324Email: [email protected]: https://www.neahpower.com
SOURCE Neah Power Systems, Inc.
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