Oct 10, 2012
EdgeWave Inc., a leading provider of Secure Content Management (SCM) solutions, has released information about the decision to file a Form 15 with the Securities and Exchange Commission (“SEC”). The Form 15, filed on September 5, 2012, was the Company’s last filing with the SEC except for the Form 10-K and accompanying audited financial statements for the eight month transition periods ended August 31, 2012 and 2011, which is expected to be filed in November 2012.
Lou Ryan, CEO of EdgeWave, explained how the decision to file the Form 15 was reached, “The Company carefully assessed all aspects of this important decision and concluded that the benefits to be derived are substantial. EdgeWave will achieve significant savings by not being required to file periodic SEC reports and from the legal and auditing expenses associated with these filings. We believe this change will serve to increase the Company’s value as a successful and growing enterprise.”
Mr. Ryan also explained what deregistration means and how it will affect current shareholders and others. He stated, “Essentially, this means that EdgeWave stock will no longer be registered under the Securities and Exchange Act.” He also assured that that this in no way affects the status of current owners of EdgeWave stock, who continue to retain their status as shareholders.
Mr. Ryan continued, “Although there is a possibility that deregistration may affect the market for our stock, EdgeWave stock may still be traded if brokers who have traded it in the past continue to do so. We expect our common shares will be quoted on the Pink Sheets, as long as the market makers show an interest in trading EdgeWave’s common stock. However, we can offer no assurance that trading will continue in any forum.”
Mr. Ryan said that EdgeWave will continue to provide information about their products, events and other important developments through their website at www.edgewave.com.
About EdgeWave, Inc.
EdgeWave Delivers the World's Safest Inboxes™ by eliminating email-borne security risks from targeted, socially engineered attacks. Our multi-layered Email Security Platform provides unparalleled predelivery protection, postdelivery detection and incident response to secure inboxes from today's proliferating messaging threats like ransomware, spear phishing, business email compromise and more. Headquartered in San Diego, CA, EdgeWave has more than 2,500 customers and over 3.5 million protected users worldwide.