NIR Group

[hugh_jackoman]

Robert M. Cohen, the Company's President and CEO stated, "After carefully considering the advantages and disadvantages of continuing as a registered company and based on management's recommendation, the Board of Directors unanimously determined to deregister the Company. In light of the dramatically increasing costs associated with being a public company, including compliance and administration burdens, our Board agrees that deregistering will result in significant expense reductions. Rather than using a great deal of our limited cash for accounting, legal and administrative expenses, this will enable management to focus more of its time and resources on the science initiatives to which the Company is dedicated. We believe this in the long run should enhance the company's value for all of our shareholders. We also hope at some point to be able to resume being a reporting company if resources permit."

http://newsblaze.com/story/2006032912254200001.pz/topstory.html