X-Factor Communications Holdings Elects to File Form 15
X-Factor voluntarily suspends its reporting obligations under the Securities Exchange Act of 1934.
Lyndhurst, NJ (PRWEB) October 18, 2013
X-Factor Communications Holdings, Inc. (“XFCH” or the “Company”) has filed a Form 15 with the Securities and Exchange Commission (the “SEC”) on October 18, 2013, thereby voluntarily suspending its reporting obligations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As a result of filing the Form 15, the Company will no longer be required to file any periodic or current reports with the SEC.
The Company's management and board of directors decided to take this action in order to maximize the Company’s current capabilities including both personnel and capital resources and to focus the Company's efforts on business development. The Company believes that its fourth generation digital media communications platform has increasing appeal to potential strategic partners and end-users with a need for easy-to-use single point publishing of mass notifications and rich informational content. The Company believes it is currently in the best interests of its shareholders to focus its attention and devote its limited resources to business operations.
The Company’s board of directors approved a voluntary suspension of its reporting obligations under the Exchange Act after carefully considering the advantages and disadvantages of continuing as an SEC reporting company. The board of directors determined that the substantial costs and demands on management’s time associated with SEC reporting and Exchange Act compliance outweigh the benefits that the Company receives as an SEC reporting company.
The Company's securities will continue to be quoted and traded on the OTC Pink tier of the OTC Markets Group. The Company may resume its status as an SEC reporting company in the future by filing a Form 10 with the SEC under the Exchange Act or another form of registration statement that would subject the Company to the Exchange Act reporting requirements. The Company will continue to evaluate this option in the future but has no current definitive plans for doing so.
At XFCH, we improve enterprise-wide communications for our clients by delivering single point publishing of mass notifications, emergency alerts and rich digital content to any connected device, at any location. Our powerful, interactive digital media solutions, quickly and easily broadcast real-time messages and alerts to workstations, digital signs, tablets, mobile devices, web sites and any intranet site. XFCH has improved communications for hundreds of clients in higher-education, K-12 school districts, healthcare, public transportation, government, and corporate enterprise. XFCH helps clients drive performance, productive, safety and compliance by delivering the right information, at the right time, to the right audience, in the manner they prefer to be notified.
This press release includes forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that XFCH believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors XFCH believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of XFCH. Such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including XFCH’s ability to implement its long range business plan for various applications of its technology; XFCH’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the ability of XFCH to protect its intellectual property; and management of growth and other risks and uncertainties that have been previously detailed from time to time in our reports filed with the SEC.
Roslyn Yee, Public Relations Manager
X-Factor Communications Holdings, Inc.
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