Published:
Money Centers of America, Inc. Announces Decision to Deregister its Common Stock
KING OF PRUSSIA, Pa., Nov. 21 /PRNewswire-FirstCall/ -- Money Centers of
America, Inc. (OTC Bulletin Board: MCAM) today announced that it plans to
deregister its common stock and suspend its reporting obligations under the
Securities Exchange Act of 1934 by filing a Form 15 with the Securities and
Exchange Commission on November 24, 2008.
The Company expects the deregistration to be effective 90 days after the
filing of the Form 15. The Company's obligations to file with the SEC certain
reports and forms, including Form 10-K, Form 10-Q and Form 8-K, are suspended
immediately as of the filing date of the Form 15 and will cease as of the
effective date of the Form 15.
Christopher M. Wolfington, President and Chief Executive Officer, said,
"The decision by the board of the directors of the Company to deregister was
made after careful consideration of the advantages and disadvantages of being
a public company and the high costs and demands on management time arising
from compliance with the many SEC requirements. We believe deregistration will
be a significant benefit to the Company by reducing expenses and permitting
management to focus its energies on operating the Company's business."
About Money Centers of America
Money Centers of America, Inc. provides cash access, the ONswitch(TM)
transaction management system, and financial networks to the gaming industry,
utilizing a customer-centric approach that is aimed at leveraging technology,
generating value, and creating measurable results in profitability, customer
satisfaction and loyalty. For a complete corporate profile on Money Centers of
America, Inc., please visit our corporate website at
http://www.moneycenters.com .
Safe Harbor
All statements in this document that are not historical are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. You are cautioned not to place undue reliance
on any forward-looking statements in this document, as they reflect Money
Centers of America's current views with respect to future events and are
subject to risks and uncertainties that could cause actual results to differ
materially from those contemplated. These risks and uncertainties are
discussed in greater detail in Money Centers of America's periodic reports on
Form 10-K and Form 10-Q filed with the Securities and Exchange Commission,
including, in particular, the section entitled 'Factors that May Affect Future
Results and Financial Condition' in Money Centers of America's annual report
on Form 10-K for the year ended December 31, 2005. Money Centers of America
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statement contained in this
document.
SOURCE Money Centers of America, Inc.
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