HemaCare Corporation : HemaCare Reports Filing Form 15 - Deregistration
04/09/2012| 09:05am US/Eastern
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HemaCare Corporation (OTCBB:HEMA) announced today that it filed a Form
15 with the Securities and Exchange Commission (the "SEC") to
voluntarily deregister its shares of common stock under the Securities
Exchange Act of 1934, as amended (the "Act"). Upon such filing, the
Company's obligation to file certain reports with the SEC, including
annual, quarterly and current reports on Form 10-K, Form 10-Q and Form
8-K, respectively, was immediately suspended. Other filing requirements
will terminate upon the effectiveness of the deregistration, which is
expected to occur 90 days after the filing of the Form 15. As a result
of filing the Form 15, HemaCare anticipates that its shares of common
stock will no longer be quoted on the OTC Bulletin Board but instead
will be quoted on the OTC Pink Market, so long as market makers
demonstrate an interest in trading HemaCare's common stock. However,
HemaCare cannot guarantee that trading in its common stock will continue
in the OTC Pink Market or in any other forum.
In addition, as a result of deregistering, HemaCare will no longer incur
the expenses related to satisfying the reporting obligations under the
Act.
Commenting on the filing, Pete van der Wal, HemaCare's Chief Executive
Officer, said, "After extensive deliberation, we have concluded that
deregistration of our securities will generate significant cost savings
and allow greater management focus on our goal of profitable growth.
Even though we will no longer be required to file reports under the Act,
we still intend to release financial results, be audited annually and
issue press releases from time to time for the benefit of our
shareholders."
ABOUT HEMACARE CORPORATION
HemaCare Corporation is a blood services company serving healthcare
providers and the scientific community for over 30 years. HemaCare and
its subsidiary, Coral Blood Services, perform therapeutic apheresis
services, provide human-derived biological products, and support the use
of cellular therapies with apheresis collections.
The company was founded in 1978 and is based in Van Nuys, California. It
trades under the symbol "HEMA."
FORWARD-LOOKING STATEMENTS
This press release also contains "forward-looking statements" under
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 (Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended). Statements
herein that are not historical facts are forward-looking statements
pursuant to the safe harbor provisions referenced above. You may also
identify forward-looking statements by use of the words "anticipates,"
"expects," "intends," "plans" and similar expressions. The
forward-looking statements in this press release include statements
regarding the timing of the deregistration process and the development
of a trading market for the Company's common stock on the OTC Pink
Market or any other forum. Forward-looking statements are
inherently subject to risks and uncertainties some of which cannot be
predicted or quantified. Such risks and uncertainties include,
without limitation, the following: the Company's ability to successfully
complete its deregistration, the effectiveness of its deregistration
within 90 days after filing the Form 15 with the SEC and whether a
trading market for the Company's common stock develops in the OTC Pink
Market or in any other forum. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove
to be correct. Consequently, future events and actual results could
differ materially from those set forth in, contemplated by, or
underlined in the forward-looking statements contained herein. The
Company undertakes no obligation to update any of these forward-looking
statements to reflect actual results or events or circumstances after
the date hereof.
HemaCare Corporation
Pete van der Wal, Chief Executive
Officer
877-310-0717
www.hemacare.com
© Business Wire 2012
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