Natures Sunshine Products (NASDAQ:NATRE)
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Nature's Sunshine Products, Inc. (NASDAQ:NATRE), a
leading manufacturer and marketer of encapsulated herbs and vitamins,
received a letter from The Nasdaq Stock Market indicating that the
Nasdaq Listing Qualifications Panel determined to delist the Company's
common stock from The Nasdaq National Market, effective with the open
of business on April 5, 2006. As previously reported, the Company is
not in compliance with Marketplace Rule 4310(c)(14) because it has not
timely filed its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2005 nor its Annual Report on Form 10-K for the fiscal
year ended December 31, 2005. In addition, the Company has also
reported that KPMG LLP resigned as the Company's independent
registered public accounting firm on March 31, 2006. Because the
Company could not reasonably determine whether it will file a complete
Quarterly Report on Form 10-Q for the quarter ended September 30, 2005
by April 19, 2006, the latest extension that the Panel could grant
under the Marketplace Rules for filing the 10-Q, the Company did not
seek any further filing extensions beyond the March 31, 2005 extension
previously granted by the Panel. As a result, the Panel determined to
delist the Company's common stock.
The Company's common stock is not currently eligible to trade on
the OTC Bulletin Board because, as described above, the Company is not
current in its reporting obligations under the Securities Exchange Act
of 1934, as amended. The Company expects that quotations for its
common stock will appear in the National Daily Quotations Journal,
often referred to as the "pink sheets," where subscribing dealers can
submit bid and ask prices on a daily basis. However, there can be no
assurances that the Company's common stock will be eligible for
trading or quotation on any alternative exchanges or markets. The
Company will disclose further timing and trading symbol information
regarding the trading of its common stock when such information
becomes available.
About Nature's Sunshine
Nature's Sunshine Products manufactures and markets through direct
sales encapsulated and tableted herbal products, high quality natural
vitamins, and other complementary products. In addition to the United
States, the Company has operations in Japan, Mexico, Central America,
South Korea, Canada, Dominican Republic, Venezuela, Ecuador, Peru, the
United Kingdom and Ireland, Colombia, Brazil, Thailand, Israel,
Singapore and Taiwan. The Company also has exclusive distribution
agreements with selected companies in Argentina, Australia, Chile, New
Zealand, Norway, and the Russian Federation.
Statements in this press release concerning the Company's common
stock trading on the "pink sheets" and the OTC Bulletin Board, and the
Company making required filings with the Securities and Exchange
Commission and otherwise satisfying Nasdaq listing standards in order
to regain compliance, together with other statements that are not
historical facts, are "forward-looking statements" as that term is
defined under Federal Securities Laws. "Forward-looking statements"
are subject to risks, uncertainties and other factors, which could
cause actual results to differ materially from those set forth in such
statements. Such risks, uncertainties, and factors include, but are
not limited to, the results of Company's ongoing internal
investigation, the impact of the delisting of the Company's common
stock and failure to file periodic reports, foreign business risks and
the Company's ability to retain new independent auditors, as well as
other risks detailed in the Company's filings with the Securities and
Exchange Commission. The Company disclaims any obligations to update
any forward-looking statement as a result of developments occurring
after the date of this press release.