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Published in Stocks and Investing on Wednesday, February 4th 2009 at 7:44 GMT, Last Modified on 2009-02-04 07:45:23 by Market Wire
DANVILLE, CA--(Marketwire - February 4, 2009) - S3 Investment Company, Inc. (
Pink OTC Markets Inc., which operates [ www.pinksheets.com ] and related websites, provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market.
S3 has reached the Current Information designation through the Pink Sheets due to the filing of annual reports with audited financials for the 2007 and 2008 fiscal years. The Current Information designation positions S3 in the "Transparent" category as designed by the Pink Sheets OTC Disclosure and News Service.
The company intends to maintain this designation by meeting the applicable requirements, which include subscribing to the OTC Disclosure and News Service; publishing disclosure that complies with the guidelines contained in "Pink OTC Markets' Guidelines for Providing Adequate Current Information," including the posting of quarterly and annual financial statements through the OTC Disclosure and News Service; publishing a quarterly letter from an attorney stating that the issuer's disclosure meets specified requirements and identifies the person responsible for the preparation of the financial statements; and maintaining an SEC registered transfer agent.
The quarterly and annual financial statements must be prepared in accordance with U.S. GAAP requirements but are not required to be audited.
S3 will post the required disclosure on pinksheets.com. Pink OTC Markets will verify that the company's quarterly or annual report, in addition to the attorney letter regarding completeness of disclosure, has been posted within 75 days after each quarter ended and within 120 days after each fiscal year-end.
Additional information on the Pink Sheets OTC Disclosure and News Service and more details on the requirements for Current Information status can be found [ http://www.pinksheets.com/pink/otcguide/categories.jsp ].
"While management has determined that moving forward with the S-1 Registration Statement at this time is not in the company's best interests, S3 remains committed to reporting our quarterly and annual financial statements through the Pink Sheets system," stated Jim Bickel, CEO of S3 Investment Company. "Not only will this provide timely financial information to shareholders, but it also sends a clear signal to potential investors and the public markets that S3 is a highly transparent organization. Reporting through the Pink Sheets system also demonstrates fiscal responsibility, since a majority of the costs associated with financial disclosure will be eliminated by filing in this manner."
"We continue to believe that S3 has a tremendous future ahead, and the appropriate quarterly and annual financial disclosure will help us to show the growth of the company from period to period," Mr. Bickel added.
To sign up to receive information by email directly from S3 Investment Company when new press releases, investor newsletters, SEC filings or other information is disclosed, please visit [ http://www.s3investments.com/investors/ ].
About S3 Investment Company
S3 Investment Company, Inc. ([ http://www.s3investments.com ]) and its wholly owned Redwood Capital subsidiary are focused on assisting private Chinese companies in accessing the North American capital markets by utilizing a network of investment banking relationships to achieve reverse merger transactions. For more information, please visit [ http://www.redwoodcapinc.com ].
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.
