Women's Golf Unlimited Files Form 15 with the SEC.Business Editors FAIRFIELD, N.J.--(BUSINESS WIRE)--Sept. 29, 2003 Women's Golf Unlimited, Inc. a leading supplier of women's golf equipment announced today that they have filed Form 15, Certification & Notice of Termination of Registration, with the Securities and Exchange Commission. "The primary reason we have decided to take this action is due to the increased cost of complying with the many new regulatory, auditing and board requirements imposed by the Sarbanes-Oxley act See SOX. . For a company the size of Women's Golf Unlimited, a conservative estimate of the cost of the new requirements would exceed $200,000 and take away the ability to invest in programs targeted to adding value to the company," said Douglas A. Buffington, president of WGU WGU Western Governors University WGU World's Greatest University (Boston slang for Harvard University) WGU Weapon Guidance . "Although the reporting requirements such as quarterly and annual reports are eliminated, we will continue to communicate with each shareholder twice per year. This communication will include a discussion of the results for the period being reported along with all pertinent financial statements. The financial statements will be presented in the exact same manner and format as we currently supply," added Buffington. "The company's stock will continue to trade on the Over-The-Counter bulletin board until a final decision regarding the registration of the stock is finalized. Once finalized, the stock will trade through the Pink Sheets. The Company expects a final decision from the SEC within 90 days. Women's Golf Unlimited markets women's and men's golf equipment throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The company offers the Square Two line of women's clubs women's clubs, groups that offer social, recreational, and cultural activities for adult females. Particularly strong in the United States, they became an important part of American town and village life in the latter part of the 19th cent. , which carries the Ladies Professional Golf Association (LPGA LPGA abbr. Ladies Professional Golf Association ) logo, as well as NancyLopezGolf(TM) premium clubs, Lady Fairway golf shoes and a variety of golf related accessories. The company operates its headquarters and assembly plant in Fairfield, New Jersey and maintains a website at www.womensgolfunlimited.com. This release may contain forward-looking statements as defined under 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. provisions of 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 in 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the company's expectations. These risks are detailed in the company's filings with the Securities and Exchange Commission. |
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