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OPTEC International Announces Voluntary Filing Of Form 15 To Suspend SEC Reporting Obligations
OPTEC International Announces Voluntary Filing Of Form 15 To Suspend SEC Reporting Obligations.
About this update from Optec International, Inc.
[{"type":"text","content":"\n\n\n\nOPTEC International Announces Voluntary Filing Of Form 15 To Suspend SEC Reporting Obligations\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nOPTEC International Announces Voluntary Filing Of Form 15 To Suspend SEC Reporting Obligations\nWill Continue to Provide Financial Information and Company Updates Through Web Site and OTC\nPR Newswire\nCARLSBAD, Calif., Feb. 27, 2019\n\n\n\nCARLSBAD, Calif., Feb. 27, 2019 /PRNewswire/ -- OPTEC International, Inc. (OTCQB: OPTI), today announced the filing of Form 15 with the Securities and Exchange Commission (the \"SEC). OPTI filed the Form 15 with the SEC under the Securities Exchange Act of 1934, as amended (the 'Exchange Act\"), to suspend its reporting obligations under Section 15(d) of the Exchange Act.\nUpon filing of the Form 15, OPTI's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, was immediately suspended. The Company's duty to file reports with the SEC will be terminated 90 days after filing of the Form 15. Despite the termination of registration, the Company expects that shareholders will be able to continue to trade the outstanding common shares of OPTI, and the Company intends to maintain a public listing on the OTC Pink Sheets market or other exchange as it may determine appropriate. The Company plans to continue to disclose its financial statements on a quarterly and annual basis through the OTC Markets reporting service as an alternative reporting company. The Company anticipates that its common stock will resume quoting on the OTC Markets marketplace, a centralized electronic quotation service for over-the-counter securities, so long as market makers demonstrate an interest in trading the Company's common stock. OPTI is eligible to suspend its reporting obligations because it has fewer than 300 record holders of its common shares.\nA Special Meeting of the majority of shareholders has approved this action primarily as a cost reduction measure. A majority of the shareholders of the Company felt that suspending and ultimately terminating the Company's ...