Conihasset Capital Partners, Inc. Announces Intention to Deregister its Common Stock With the Securities and Exchange Commission
November 09 2007 - 3:29PM
PR Newswire (US)
BOSTON, Nov. 9 /PRNewswire-FirstCall/ -- Conihasset Capital
Partners, Inc. (OTC:CNHA.OB) (BULLETIN BOARD: CNHA.OB) today
announced that it intends to file a Form 15 on November 13, 2007
with the Securities and Exchange Commission to deregister its
common stock and suspend its reporting obligations under the
Securities Exchange Act of 1934. The Company expects the
deregistration to become effective within ninety (90) days of the
filing with the SEC. As a result of the filing of the Form 15, the
Company's obligation to file with the SEC certain reports and
forms, including Forms 10-KSB, 10-QSB and 8-K, will immediately
cease. The Company presently intends to continue to make available
its periodic financial information commencing with the period
ending September 30, 2007. The Company anticipates that its shares
will be traded on the Pink Sheets, but can make no assurances that
any broker will make a market in the Company's common stock. The
Pink Sheets is a centralized quotation service that collects and
publishes market maker quotes in real time, primarily through its
web site, http://www.pinksheets.com/. The Company's Board of
Directors determined, after careful consideration, that
deregistering is in the overall best interests of the Company's
stockholders. Several factors were considered by the Board of
Directors in making this decision, including the following: * The
elimination of disproportionately large costs associated with the
preparation and filing of the Company's periodic reports and other
filings with the SEC; * The elimination of substantial increases in
legal, audit and other costs associated with being a public company
in light of new regulations promulgated as a result of the
Sarbanes-Oxley Act of 2002 and the SEC rules thereunder; * The
nature and extent of current trading in the Company's common stock,
which is limited; * The concentration of stock ownership in
relatively few holders of the Company's common stock; and * The
lack of analysts' coverage and minimal liquidity for the Company's
common stock. Statements included in this press release that are
not historical in nature are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
(the "1995 Act"). The words "believe," "expect," "anticipate,"
"estimate," "guidance," "target" and similar expressions identify
forward-looking statements. The Company cautions readers that
forward-looking statements are subject to certain risks and
uncertainties, which could cause actual results to differ
materially from those projected in the forward-looking statements.
Certain risks and uncertainties are identified from time to time in
the Company's reports filed with the SEC. The Company claims the
protection of the safe harbor for forward-looking statements
contained in the 1995 Act. CONTACT: Richard D. Bailey President and
Chief Executive Officer Conihasset Capital Partners, Inc. (617)
235-7215 DATASOURCE: Conihasset Capital Partners, Inc. CONTACT:
Richard D. Bailey, President and Chief Executive Officer,
Conihasset Capital Partners, Inc., +1-617-235-7215
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