TelVue decides to suspend SEC reporting obligations
Dec 27, 2012 (Menafn - TELECOMWORLDWIRE via COMTEX) --TelVue Corp. TEVE said it will voluntarily file a form 15 with the Securities and Exchange Commission, suspending the company's obligation to file certain reports with the SEC, including annual, quarterly, and current reports on Forms 10-K, 10-Q and form 8-K.
After thoughtful and deliberate consideration, the company's board of directors made this unanimous decision based upon a thorough review of the associated costs and benefits of being an SEC reporting company and the underlying regulatory reporting obligations.
The company believes that the incremental cost of compliance with SEC public reporting requirements does not provide a discernible benefit to the company and its stockholders at this time, given the extremely low trading volumes in the company's stock, and believes that at this stage in its development the attention and resources that are currently dedicated to SEC reporting compliance would be better devoted to growing the business.
Jesse Lerman, CEO of TelVue, said, "After a thorough review of the costs and benefits of compliance with a heavy SEC compliance load relative to our size and stage of development, we have decided that it is in the interests of the company and our stockholders to suspend our filing obligations. This will allow TelVue to focus more of its energy and resources on attaining our growth and profitability goals." TelVue expects to take steps to maintain its ability to reactivate its SEC reporting at relatively low cost, if such conditions render this advantageous. TelVue plans to continue to provide summary financial statements to those shareholders of record who request to continue to receive them.
TelVue Corp. is a broadcast technology innovator and leader that helps video broadcasters automate their channels, expand their audiences across multiple screens, and broaden their ability to monetise their content. For more information about TelVue, visit http://www.TelVue.com
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