NEWS OUT!
WCHG ( .0035 ) WaterColor Holdings, Inc. F/K/A United Specialties, Inc. Announces Settlement With the SEC Market Wire "US Press Releases "
WESTPORT, CT -- (MARKET WIRE) -- 09/06/07 -- WaterColor Holdings, Inc. (PINKSHEETS: WCHG) announced today that it has settled the action previously initiated by the SEC for failure to provide current periodic reporting. The SEC has accepted the Company's offer of settlement and entered an Order revoking the registration of the Company's securities under the Securities Exchange Act of 1934, as amended.
The Company had made its offer of settlement in order to avoid potentially lengthy and expensive SEC proceedings.
The Company intends to file to re-register its common stock as soon as practicable and is preparing Form 10SB, including financial statements covering fiscal years 2006 and 2007 in order to provide current information on the Company's financial standing. Upon completion of the filings, the Company will be current with all required reporting, and intends to maintain that status moving forward.
Upon review and acceptance by the SEC of the Company's re-registration, the Company anticipates that its securities will be free-trading on the OTC.PK market shortly thereafter. Further updates will be provided as information becomes available.
Don't Drink It, just Sip It....then move on to the next play
Don't Drink It, just Sip It....then move on to the next play
