RadView Software to Follow Foreign Private Issuer Rules for U.S. Filings
Tuesday September 19, 9:40 am ET
ROSH HAAYIN, Israel--(BUSINESS WIRE)--Sept. 19, 2006--RadView Software Ltd. (OTCBB: RDVWF - News), a premier provider of solutions for verifying the performance, scalability and integrity of business critical Web applications, announced today that, effective immediately, it will file reports and make other filings under the Securities Exchange Act of 1934, as amended, and the Securities Act of 1933, as amended, in accordance with the requirements of the Securities and Exchange Commission (SEC) applicable to foreign private issuers. Prior to today, the Company made filings with the SEC in accordance with the requirements applicable to U.S. domestic reporting companies.
As a result of this change, RadView will no longer file with the SEC annual reports on Form 10-K, quarterly reports on Form 10-Q, or current reports on Form 8-K. Instead, the Company will file its future annual reports, beginning with the report for the fiscal year ending December 31, 2006, on Form 20-F, and current reports on Form 6-K, which forms are applicable to foreign private issuers. The Company intends to continue to report its financial results in accordance with US GAAP and to continue to issue its earnings releases on a similar schedule to its previous earnings releases. By electing to report as a foreign private issuer, the Company expects to simplify its reporting requirements resulting in reduced administration costs, while maintaining the availability of information to shareholders and investors. http://biz.yahoo.com/bw/060919/20060919005652.html?.v=1