Press Release
Home > Press Release > Marketwire
Invenda Corporation Announces Voluntary Deregistration With Securities and Exchange Commission and Voluntary Delisting on the SIX Swiss Exchange
BETHESDA, MD -- (Marketwire) -- 01/08/09 -- Invenda Corporation announced that today itsapplication for voluntary delisting from the SIX Swiss Exchange has beenapproved and that it has filed a Form 15 with the Securities and ExchangeCommission to voluntarily terminate the Company's common stock registrationunder the Securities Exchange Act of 1934.
The Company's Board of Directors believes that delisting and deregisteringthe Company's common stock is in the long-term best interests of itsshareholders. After careful consideration, the Board of Directors hasconcluded that the benefits of remaining a public reporting company areoutweighed by the costs and administrative burdens of being a publicreporting company. "We are taking this action in order to relieve theCompany from the burden and expense of maintaining its public companystatus," said Kamran Amjadi, Chairman & CEO of Invenda Corporation.Additionally, Mr. Amjadi continued, "We spent approximately $500,000 and$300,000 in 2007 and 2008 respectively in accounting, legal and insurancerelated costs directly related to being a public reporting company. Ouraverage trading volume over the past 12 months was approximately 1,900shares. For Invenda's size and the thinly-traded nature of its stock, theBoard believes the financial and operational burdens of being a publicreporting company are disproportionate to the benefits of maintaining itsregistered status. We do not believe that deregistering and delisting willhave any impact on our overall business strategy, which continues to be tofocus on growing our business, developing new products and controllingcosts."
The delisting date from the SIX Swiss Exchange is on Thursday, April 9,2009 and the last day of trading on the SIX Swiss Exchange will beWednesday, April 8, 2009. The Company will provide a secondary market oftrading of its shares through the Helvetica platform of Bondpartners,Lausanne, as required by the SIX Swiss Exchange for 180 days. Theobligations of the Company to file periodic reports with the SEC, includingreports on Form 10-K, 10-Q and 8-K, as well as proxy statements, aresuspended upon filing of the Form 15.
Kamran Amjadi, Invenda's CEO, will be available via a conference call onJanuary 9, 2009 at 11:30 a.m. U.S. EST. Callers may participate in theconference call by dialing (877) 311-9977 (U.S. participants) or+1.706.643.3836 (International participants).
ABOUT INVENDA CORP.
Invenda Corp. is a leading provider of digital marketing technologies,services and online media properties that enable more efficient andeffective marketing. Invenda Corp. currently consists of three businessunits: integrated consumer relationship marketing unit: Collabrys; Internetcoupons and interactive promotions unit: E-centives; and, consumergenerated content and media unit: ConsumerREVIEW. Headquartered outsideWashington D.C. with offices in the San Francisco Bay area, Invenda Corp.is traded on the SIX Swiss Exchange under the symbol "INVN."
Under the safe harbor provisions of the Private Securities LitigationReform Act of 1995, Invenda cautions investors that any forward-lookingstatements or projections made by the company, including those that may bemade in this press release, are based on management's expectations at thetime they are made, but they are subject to risks and uncertainties thatmay cause actual results to differ materially from those projected.Specifically, Invenda forecasts of revenue growth, customer growth andEBITDA are forward looking in nature, and could differ materially fromcurrent expectations. Invenda' future results may be impacted by factorssuch as technological changes, market acceptance of the company's services,Invenda ability to grow its customer base, and competitive marketpressures, among other things. Invenda' future results also may beimpacted by other risk factors detailed from time to time in the company'sregistration statements and Forms 10-KSB and 10-QSB filed with theSecurities and Exchange Commission. By making these forward-lookingstatements, Invenda undertakes no obligation or intention to update thesestatements after the date of this release.
Contact:Ivana PacakovaInvenda Corp.1.240.333.6109Email Contact
The delisting date from the SIX Swiss Exchange is on Thursday, April 9,2009 and the last day of trading on the SIX Swiss Exchange will beWednesday, April 8, 2009. The Company will provide a secondary market oftrading of its shares through the Helvetica platform of Bondpartners,Lausanne, as required by the SIX Swiss Exchange for 180 days. Theobligations of the Company to file periodic reports with the SEC, includingreports on Form 10-K, 10-Q and 8-K, as well as proxy statements, aresuspended upon filing of the Form 15.
Kamran Amjadi, Invenda's CEO, will be available via a conference call onJanuary 9, 2009 at 11:30 a.m. U.S. EST. Callers may participate in theconference call by dialing (877) 311-9977 (U.S. participants) or+1.706.643.3836 (International participants).
ABOUT INVENDA CORP.
Invenda Corp. is a leading provider of digital marketing technologies,services and online media properties that enable more efficient andeffective marketing. Invenda Corp. currently consists of three businessunits: integrated consumer relationship marketing unit: Collabrys; Internetcoupons and interactive promotions unit: E-centives; and, consumergenerated content and media unit: ConsumerREVIEW. Headquartered outsideWashington D.C. with offices in the San Francisco Bay area, Invenda Corp.is traded on the SIX Swiss Exchange under the symbol "INVN."
Under the safe harbor provisions of the Private Securities LitigationReform Act of 1995, Invenda cautions investors that any forward-lookingstatements or projections made by the company, including those that may bemade in this press release, are based on management's expectations at thetime they are made, but they are subject to risks and uncertainties thatmay cause actual results to differ materially from those projected.Specifically, Invenda forecasts of revenue growth, customer growth andEBITDA are forward looking in nature, and could differ materially fromcurrent expectations. Invenda' future results may be impacted by factorssuch as technological changes, market acceptance of the company's services,Invenda ability to grow its customer base, and competitive marketpressures, among other things. Invenda' future results also may beimpacted by other risk factors detailed from time to time in the company'sregistration statements and Forms 10-KSB and 10-QSB filed with theSecurities and Exchange Commission. By making these forward-lookingstatements, Invenda undertakes no obligation or intention to update thesestatements after the date of this release.
Contact:Ivana PacakovaInvenda Corp.1.240.333.6109Email Contact
For more information, go to www.marketwire.com
Recent Press Release
Advertisement
POS Magnetic Card Readers
Online distributor for point of sale equipment, TYSSO and Pegasus.








