EBIZ Enterprises announces SEC Filings are pending.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nov. 3, 1999-- EBIZ EBIZ Electronic Business Enterprises Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : EBIZE) Wednesday announced that the company has filed and is working diligently with the Securities and Exchange Commission (SEC) to clear their Form 10-SB filing to meet the November 3, 1999 deadline for its stock to continue trading on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . However, it is not likely that the filing will be cleared today resulting in the stock being temporarily traded on the pink sheets. Upon clearance by the SEC, the company's stock will resume trading on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB Bulletin Board. A recently-implemented SEC rule requires that all OTC Bulletin Board traded companies be fully-reporting with the SEC. They are progressing in alphabetical order, and the deadline for EBIZ to clear comments with the SEC is November 3, 1999. The company has filed all required registration statements with the SEC, which can be viewed in their entirety on EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. . In addition, company information and updates can be found on the company's website www.TheLinuxStore.com. The company has confirmed that Peacock, Hislop, Staley & Given, whose trading desk Trading Desk A desk where transactions for buying and selling securities occur. Trading desks can be found in most organizations (banks, finance companies, etc.) involved in trading investment instruments such as equities, fixed-income securities, futures, commodities and foreign can be reached at 800/487-7474, has qualified as a market maker for EBIZ stock while it is traded on the pink sheets. Other firms have also indicated that they will make a market in the company's stock. "We are facing a short transition period due to our filing not being cleared by the November 3 deadline," stated Jeffrey Rassas, chief executive officer of EBIZ. "We assure all of our shareholders that we are doing everything possible by continuing to follow all the SEC guidelines and requirements and to achieve and maintain our fully-reporting status." Being a reporting company qualifies EBIZ to maintain its listing or, if the filing is not declared effective by November 3, to re-list its stock for trading on the OTC Bulletin Board, and to move the listing to the 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 Small Cap and, eventually, to the NASDAQ National Market System, as the company meets the listing qualifications for these markets. "The Company is focused on developing and growing our core Linux business initiatives. We have recently streamlined the organization, eliminating positions and activities that are not within our primary strategic direction," added Rassas. "This has enabled us to concentrate on key areas of success such as our recent re-launch of TheLinuxStore.com, the acquisition of JustLinux.com, developing strategic relationships with key Linux industry players and expanding our sales and marketing efforts." "While we sincerely regret this course of action, we believe this will be resolved in approximately 30-days or less," added Stephen Herman, president of EBIZ. "We have filed all necessary documents and are waiting for the SEC to review the filing and respond. We have taken all the steps we can to expedite this process with the SEC. This set-back comes at a time when the Company is achieving some of our greatest successes. "We have recently completed a strategic acquisition, launched our new Web site, secured $7.1 million financing and are introducing exciting new products and services. We hope our shareholders can see these actions as positive, in spite of this short-term situation for the stock." About EBIZ Enterprises Inc. EBIZ Enterprises is a leader in the Linux market providing community resources and services, technology expertise and a comprehensive line of Linux-based product solutions. The company owns and operates one of the leading Linux community Web sites, www.justlinux.com. The company's e-commerce Web site, www.TheLinuxStore.com provides "Everything Linux Everything Linux, also known as elx.com.au, is an Australian Linux and general IT e-commerce retailer. It was first opened in 1999 by Anthony Rumble, and is currently located in the Sydney suburb of Silverwater. " and offers the largest selection of Linux-compatible technical products and related items, including desktop and notebook computers A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. , workstations, servers, hardware components, peripherals, software, books and apparel. TheLinuxStore.com is the value leader in the Linux market, furthering the vision of Linux being a low-cost, high performance alternative. The statements in this press release may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934 and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by these sections. Actual results could differ materially from those described herein as a result of certain factors and circumstances. (c)1999, EBIZ Enterprises Inc. TheLinuxStore.com, PIA pi·a n. The pia mater. pi  al adj. and Element-L Systems are trademarks of EBIZ Enterprises Inc. Linux is a trademark of Linus Torvalds Linus Benedict Torvalds (born December 28 1969 in Helsinki, Finland) is a Finnish software engineer best known for initiating the development of the Linux kernel. .
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion