Enable IPC Corporation Voluntarily Files Form 15 to Suspend SEC Reporting Obligations
VALENCIA, CA -- (Marketwire) -- 01/07/09 -- Enable IPC Corporation (OTCBB: EIPC) todayannounced that its Board of Directors unanimously approved the voluntarytermination of the registration of its common stock under Section 12(g) ofthe Securities Exchange Act of 1934, as amended. On or about January 7,2009, in accordance with the resolutions adopted by its Board of Directors,Enable IPC will file a Certification and Notice of Termination ofRegistration on Form 15 with the Securities and Exchange Commission (SEC)to effect this termination. The Company is eligible to deregister itscommon stock because it had fewer than 300 holders of record of its commonstock at the beginning of its fiscal year.
While no longer required by the SEC after deregistering, Enable IPC plansto continue to provide quarterly, annual and other information regardingthe Company's performance to its shareholders via the OTC Newsand Disclosure Service and through its email database and website. Inaddition, the Company anticipates that trading will continue in theCompany's common stock on the Pink Sheets under the same symbol of "EIPC."
In reaching its decision, the Board of Directors of Enable IPC evaluatedthe advantages and disadvantages of continuing to operate as a reportingcompany in light of such factors as the costs and expenses of compliancewith the Sarbanes-Oxley Act of 2002, the ongoing burden associated with thepreparation and filing of periodic and current reports with the SEC and thesubstantial diversion of management's time and efforts from the tasksrequired to grow the Company's business. The Board of Directors alsoconsidered the Company's capital requirements and the projected ability tomeet those needs in 2009 given the current turmoil in the public markets.
"The Company is not going private or 'going dark,'" said David Walker, CEOof Enable IPC. "We expect to save more than $100,000 annually by makingthis move, which will allow us greater focus on creating shareholdervalue."
Rich Kaiser, President of YesInternational, Enable IPC's investor relations firm, said, "A number ofcompanies are making this move. The market conditions, auditing, legal andother expenses required to maintain the SEC reporting requirements, plusthe onerous filings required to raise capital, combine to make it untenablefor a lot of organizations to continue to be 'reporting' companies."
About Enable IPC
Enable IPC (OTCBB: EIPC) provides efficient, streamlined strategies forturning technologies into products and bringing them to market. Though notlimited to nanotechnology or the energy industries, Enable IPC's growingportfolio currently includes the exclusive rights to two break-throughenergy technologies. The Company is a transparent, fair turnkey partner forsub-licensing and joint development with other companies. For moreinformation, please visit www.enableipc.com.
Forward-Looking Statements
This release contains forward-looking statements, such as "believes,""anticipates," "plans" and similar terminology, which are made pursuant tothe safe harbor provisions of the Private Securities Litigation Reform Actof 1995. These forward-looking statements involve risks and uncertaintieswhich could cause actual results that the Company achieves to differmaterially from any of the forward-looking statements. Such risks anduncertainties, include, but are not limited to, the following: the timelydevelopment and market acceptance of products and technologies, the abilityto secure additional sources of financing, the difficulties in forecastingresults from development efforts, difficulties in accurately estimatingmarket growth, the impact of changing economic conditions, businessconditions in the microbattery industry and others identified in our AnnualReport on Form 10-K, as amended, and other Securities and ExchangeCommission filings. The Company undertakes no obligations to revise orupdate any forward-looking statements in order to reflect events orcircumstances that may arise after the date of this release.
Investor relations for Enable IPC Corp.:Rich Kaiser(800) 631-8127Email ContactPress contacts for Enable IPC Corp.:Megan Saulsbury / Jason WonacottWonacott Communications, LLC(310) 477-2871Email Contact / Email Contact
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