Business
Talon International Files SEC Form 15
Talon International Files SEC Form 15.
About this update from Talon International, Inc.
[{"type":"text","content":"\n\n LOS ANGELES, Dec. 28, 2017 (GLOBE NEWSWIRE) -- Talon International, Inc. (OTCQB:TALN), a leading global supplier of zippers, apparel fasteners, trim and stretch technology products, today announced that on December 28, 2017 it voluntarily filed a Form 15 with the United States Securities and Exchange Commission (the \"Commission\" or \"SEC\") to voluntarily deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the \"Exchange Act\").  As a result of the filing, the Company will no longer be required to file certain reports under the Exchange Act, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K. Other filing requirements will terminate upon the effectiveness of deregistration, which is expected to occur 90 days after the filing of the Form 15 with the Commission.\n Upon suspension of its reporting obligations, the Company expects its common stock to continue trading on the OTC Pink marketplace, however, there can be no assurance that any broker-dealer will make, or continue to make, a market in the Company's common stock.  The Company currently intends to provide at least limited financial information to allow for public trading of Company securities on the OTC Pink marketplace, although there can be no assurances that the Company will undertake to provide, or continue to provide, such limited information.    After a detailed analysis and thoughtful deliberation of the advantages and disadvantages of being an SEC reporting company, the Company's Board of Directors unanimously voted to file the Form 15.  The Board considered many elements in reaching its decision, including: the substantial costs associated with the preparation and filing of periodic reports with the SEC, including the costs of outside legal and accounting resources, the amount of time management spends on reporting documents, the nature and extent of the trading of the Company's common stock and the views of the Company’s largest stockholders.  “We believe that suspending our SEC reporting obligations will allow us to better direct our financial and management resources to support the long-term growth of our business, including by focusing and developing our proprietary technologies, for the benefi...