Concepts Direct, Inc. Announces Board Approval of the Filing of a Form 15 to Reduce Costs and Enhance Earnings.Business Editors LONGMONT, Colo.--(BUSINESS WIRE)--April 25, 2003 Concepts Direct, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CDIR CDIR Cumulative Damage Index Right Engine CDIR Chemical Demilitarization and Installation Restoration CDIR Channel Distribution Information at the Receiver ) announced today that its Board of Directors has approved the Company's filing of a Form 15 with the Securities and Exchange Commission to deregister its common stock. The Company intends to file the Form 15 on May 14, 2003. Upon filing of the Form 15, Concepts Direct will no longer be a reporting company under the Securities Exchange Act of 1934. The Company expects to realize significant cost savings as a result of being relieved of its burdensome accounting, legal and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. associated with SEC reporting requirements. After filing of the Form 15, the Company's securities will no longer be eligible to trade on the Over the Counter Bulletin Board (OTCBB); however, the Company anticipates that its securities may continue to trade on the Over the Counter Pink Sheets (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). .PS), another electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. forum, if market makers continue to make a market in its shares. No guarantee, however, can be made that trading will continue. Commenting on the move, Phil Wiland, Chairman, Chief Executive Officer and majority shareholder, stated: "Current market conditions do not warrant the significant annual costs and regulatory burdens on the Company associated with being a reporting company. We anticipate that our legal, accounting and administrative costs would increase substantially as a result of recently enacted legislation and we believe it is prudent to utilize the projected cost savings to enhance the financial performance of the Company. Additionally, this action will allow management to focus its attention and resources on the Company's business." About Concepts Direct, Inc. Concepts Direct is a direct marketing company focused on building and managing customer relationships through its catalogs and internet retailing initiatives. The company sells primarily personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. paper products and a diverse line of merchandise, including gift items, home decorative items, collectibles and apparel. Concepts Direct sells its merchandise primarily via the Colorful Images, Linda Anderson, Snoopy Snoopy world’s most famous beagle. [Comics: “Peanuts” in Horn, 542] See : Dogs Snoopy imaginative dog. [Comics: “Peanuts” in Horn, 542–543] See : Illusion (TM) etc., Garfield Stuff, Linda Anderson's Collectibles, the Music Stand, and NewBargains catalogs. In addition, the company owns and operates www.ColorfulImages.com, www.LindaAnderson.com, www.SnoopyStore.com, www.garfieldstuff.com, www.theMusicStand.com and www.NewBargains.com. Cautionary Statement This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Company statements that are not historical facts, including statements about the Company's expectations, beliefs, plans and objectives are forward-looking statements and involve various risks and uncertainties, including the risks associated with starting new businesses. Additional discussion of factors that could cause actual results to differ materially from management's expectations, beliefs, plans and objectives is contained in the Company's SEC filings. |
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