Lancer Orthodontic (CE) (USOTC:LANZ)
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Lancer Files Form 15 With the SEC
SAN MARCOS, Calif., Jan. 13 /PRNewswire-FirstCall/ -- Lancer Orthodontics,
Inc. (OTC:LANZ) (BULLETIN BOARD: LANZ) announced today that the Company has
filed Form 15 with the Securities and Exchange Commission (SEC), suspending
Lancer's duty to file reports under Section 13 and 15(d) of the SEC Act of
1944.
As such, Lancer will no longer be required to file public financial reports
such as SEC Forms 10-Q, 10-K, 8-K, and Proxy Statements. Further, it is
expected that Lancer's common Stock will no longer be traded on the NASD Over
the Counter Bulletin Board System. It is possible that the stock will continue
to trade on the Pink Sheet Electronic Trading System if one or more of Lancer's
market makers elect to continue to make a market in the stock.
Allen Barbieri, Lancer's CEO stated, "Although Lancer only has approximately
265 Shareholders of Record, as a reporting company we must still devote a
material amount of time, effort and financial resources to produce and file SEC
reports, and comply with existing and proposed regulations. Lancer's Board
feels that all shareholders would be better served if Lancer were to redirect
these resources toward growing revenues and earnings."
"Lancer is seeing positive results from investments over the past three years
directed at improving our manufacturing and distribution processes, and our
management information systems. We are also seeing increased sales from a more
technologically advanced and broader product line that we have recently
developed. Lancer will continue to invest a material portion of its resources
in new products that we expect to launch over the next 12 months. We have
great expectations in the revenue potential of these new products."
The Company will issue press releases from time to time, updating shareholders
as significant events occur at Lancer.
Lancer Orthodontics (OTC:LANZ) (BULLETIN BOARD: LANZ)
Lancer Orthodontic (http://www.lancerortho.com/) develops, manufactures and
markets over 5000 different state-of-the-art orthodontic products worldwide.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this press
release (as well as information included in oral statements or other written
statements made or to be made by Lancer Orthodontics) contains statements that
are forward-looking; such as statements relating to intended launch dates,
sales potential, significant benefits, market size, growth of business,
favorable positions, expansion, expected orders, leading market positions,
anticipated future revenues or production volume of the company, success of
product and new product offerings. Such forward-looking information involves
important risks and uncertainties that could significantly affect anticipated
results in the future, and accordingly, such results may differ materially from
those expressed in any forward-looking statements made by or on behalf of
Lancer. The potential risks and uncertainties include, among others,
fluctuations in the Company's operating results due to its business model and
expansion plans, downturns in international and or national economies, the
Company's ability to raise additional capital, the competitive environment in
which the Company will be competing, and the Company's dependence on strategic
relationships. The Company is under no obligation to update any
forward-looking statements after the date of this release.
Contact: Allen Barbieri -- CEO
760-744-5585
Zack Irani -- Chairman
949-645-2111
DATASOURCE: Lancer Orthodontics, Inc.
CONTACT: Allen Barbieri, CEO, +1-760-744-5585, or Zack Irani, Chairman,
+1-949-645-2111, both of Lancer Orthodontics, Inc.
Web site: http://www.lancerortho.com/