Comparator Systems Statement.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BUSINESS WIRE)--June 11, 1996-- Comparator comparator Instrument for comparing something with a similar thing or with a standard measure, in particular to measure small displacements in mechanical devices. In astronomy, the blink comparator is used to examine photographic plates for signs of moving bodies. Systems Corp. announced this morning that it has requested de-listing of the Company's stock from NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on pending the preparation of new audited financial statements. The company has already provided the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). with access to its current auditor, who continues to stand behind the company's audited statements. The NASD has imposed hearing deadlines and informational requests which make it impossible for the company to develop the financial information it has requested, and to retain new auditors to either substantiate To establish the existence or truth of a particular fact through the use of competent evidence; to verify. For example, an Eyewitness might be called by a party to a lawsuit to substantiate that party's testimony. the company's current audited statements or to provide additional information. Further the NASD has rejected the company's request for a more reasonable schedule. Based on these events, Comparator feels that the NASD has demonstrated a strong pre-disposition toward de-listing, and due to the whirlwind whirlwind, revolving mass of air resulting from local atmospheric instability, such as that caused by intense heating of the ground by the sun on a hot summer day. of, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Comparator, unfounded adverse publicity caused by recent market events, over which Comparator management had no control, the company has reluctantly concluded that a fair and complete hearing is not going to be possible at this time. Comparator is very concerned about the damage this situation has done to the interests of its shareholders, and is moving deliberately toward identifying another audit team acceptable to the SEC, and in confirming its financial condition. Comparator will then seek to take a course of action which it intends to be in the best long term interest of its shareholders. Comparator cannot accomplish that in the arbitrary time limitation imposed by the NASD. Additionally, Comparator wishes to make clear to its shareholders that, contrary to published reports, Comparator's Series 5000 Fingerprint Comparison products are not related to, are not derived from, nor do they infringe upon any technology owned by Edinburgh University scientists. CONTACT: Comparator Systems Corp., 714/851-4300 |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion