Simulated Environment Concepts Inc., makers of the popular SpaCapsule® high-pressure dry water massage and relaxation station, announced today that it has completed all of the necessary filings and paperwork, and has been updated to Current Information status on Pink Sheets (www.OTCMarkets.com). SEC considers the move a clear indication of its commitment to provide accurate and updated information to shareholders, as well as a signal of the company’s financial progress.
Non-reporting Pink Sheet companies reflect a “Limited” or even “Caveat Emptor” status due to the expense of getting a Pink Sheet filing completed, and maintaining a current status. Although not as expensive as a full audit, it can easily cost tens of thousands of dollars to bring a company current, and is a further suggestion of SEC’s fiscal health.
It is believed that securities of Pink Sheet companies providing current disclosure to the marketplace, either through a regulator or directly to Pink OTC Markets, represent over 80% of all the dollar volume traded. The average dollar volume per security in 2009 averaged $81,259,055 for securities having Current Information Status with Pink OTC Markets, versus only $745,812 for securities with No Information.
Company Chairman and CEO, Dr. Ella Frenkel, commented, “We are very excited to have updated our Pink Sheets filings to achieve the ‘Current Information’ status. This has been a long awaited goal of SE Concepts. Though the process requires an expenditure of both capital and employee resources, we believe that with this status, the company is better positioned to present a transparent and more attractive story to investors. SE Concepts does intend to remain current with Pink Sheets going forward. Moreover, we do intend to bring into practice, making our filings along the same time lines required by the SEC as we do anticipate becoming a fully reporting company in early 2011.”
For more information, see the company websites at www.spacapsule.com and www.SECCorporation.com
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