Published:
PPT VISION Announces Anticipated Filing of Form 15
MINNEAPOLIS, July 18 /PRNewswire-FirstCall/ -- PPT VISION, Inc.
(OTC Bulletin Board: PPTV) today announced that it intends to file a Form 15
on July 25, 2008 with the Securities and Exchange Commission to deregister the
Company's common stock and suspend its reporting obligations under the
Securities Exchange Act of 1934, as amended. The Company will file the Form
15 on July 25, 2008 assuming the number of record holders continues to be less
than 500 on such date. The Company expects the deregistration to become
effective within 90 days of filing with the SEC. As a result of the filing of
the Form 15, the Company's obligation to file certain reports and forms,
including Forms 10-KSB, 10-QSB and 8-K, with the SEC will be suspended.
Joseph C. Christenson, President and CFO of PPT Vision stated, "PPT
VISION's intention to deregister its common stock is driven by our goal to
reduce current expense and to avoid future expenses related to additional
auditing requirements created by the Sarbanes-Oxley Act. However, the Company
does intend to continue to provide quarterly and annual financial reports."
The Company's common stock will continue to be eligible for quotation on the
OTC Bulletin Board until the filing of the Form 15, at which time the Company
expects to transfer the quotation of its common stock to the Pink Sheets.
About PPT VISION
PPT VISION, Inc. ("the Company") designs, manufactures, and markets
machine vision based intelligent cameras used for automated inspection,
measurement, and guidance applications in the manufacturing marketplace. The
Company's IMPACT(TM) intelligent camera product line enables manufacturers to
realize significant economic paybacks by increasing the quality of
manufactured parts and improving the productivity of manufacturing processes.
The Company's IMPACT intelligent camera product line is sold through a global
network of distribution and integration partners to end-user manufacturers,
original equipment manufacturers, and manufacturing machine builders, in the
wide variety of manufacturing markets including electronics, automotive,
medical device, and packaged goods industries. The Company's Common Stock
trades on OTC Bulletin Board under the symbol PPTV.OB. For more information,
please see the PPT VISION, Inc. web site at http://www.pptvision.com.
Forward Looking Statements
The discussion above contains forward looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, including
statements regarding the Company's expectations, beliefs, intentions and
strategies regarding the future. Forward-looking statements include, without
limitation, statements regarding the extent and timing of future revenues and
expenses and customer demand. All forward-looking statements included in this
document are based on information available to the Company as of the date
hereof, and the Company assumes no obligation to update any such
forward-looking statements.
These forward-looking statements are subject to risks and uncertainties,
including the risk that the Company may be ineligible to deregister its common
stock or may determine not to do so or that its common stock will not be
quoted on the Pink Sheets, as well as other factors set forth in the Company's
filings with the Securities and Exchange Commission.
SOURCE PPT VISION, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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