Trans-Industries, Inc. Announces Plan to Deregister with the SEC
10 2월 2006 - 11:00PM
PR Newswire (US)
AUBURN HILLS, Mich., Feb. 10 /PRNewswire-FirstCall/ --
Trans-Industries, Inc. (OTC:TRNI), announced today that it intends
to file a Form 15 on February 17, 2006 with the Securities and
Exchange Commission (the "SEC") to deregister its common stock and
suspend its reporting obligations under the Securities Exchange Act
of 1934, as amended. The Company expects the deregistration to
become effective within ninety (90) days of the filing with the
SEC. Upon the filing of the Form 15, the Company's obligation to
file certain reports and forms with the SEC, including Forms 10-K,
10-Q and 8-K, will immediately cease. The Company's common shares
are currently traded over the counter on the Pink Sheets (common
symbol TRNI) and the Company believes that such trading will
continue. The "Pink Sheets" is a centralized quotation service that
collects and publishes market maker quotes in real time, primarily
through its web site, http://www.pinksheets.com/ . The Company
intends to continue to report to its stockholders in accordance
with Delaware law. In addition, the Company presently intends to
report its quarterly and annual financial results on its website,
as well as in press releases. Richard A. Solon, Trans-Industries'
Chief Executive Officer, explained: "After extensive and thoughtful
discussion, the Company's Board of Directors has determined that
the increasing financial cost and commitment of management's time
to ever increasing regulatory requirements have become an excessive
burden. We believe the Company and our stockholders are better
served by applying these financial and management resources
elsewhere." Forward-Looking Statements This release, and our
periodic filings with the Securities and Exchange Commission and
written or oral statements made by our officers and directors to
press, potential investors, securities analysts and others, may
contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements are not
historical facts, but rather are predictions and generally can be
identified by use of statements that include phrases such as
"believe," "expect," "anticipate," "intend," "plan," "foresee" or
other words or phrases of similar import. Similarly, statements
that describe or contain information related to matters such as our
intent, belief, or expectation with respect to financial
performance, claims resolution, cash availability, stock redemption
plans, contract awards and performance, potential acquisitions and
joint ventures, and cost-cutting measures are forward-looking
statements. These forward-looking statements often reflect a number
of assumptions and involve known and unknown risks, uncertainties
and other factors that could cause our actual results to differ
materially from those currently anticipated in these
forward-looking statements. In light of these risks and
uncertainties the forward-looking events might or might not occur.
About the Company The Company is a leading provider of lighting
systems and related components to the mass transit market as well
as a supplier of information hardware and software solutions on
Intelligent Transportation Systems (ITS) and mass transit projects.
ITS utilizes integrated networks of electronic sensors, signs and
software to monitor road conditions, communicate information to
drivers and help transportation authorities better manage traffic
flow across their existing infrastructures. Visit Trans-Industries
at http://www.transindustries.com/ . First Call Analyst: FCMN
Contact: DATASOURCE: Trans-Industries, Inc. CONTACT: Kai Kosanke,
Chief Financial Officer of Trans-Industries, +1-248-364-0400 Web
site: http://www.transindustries.com/
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