Law Enforcement Files to Have Its Common Stock Listed on the OTC Bulletin Board
17 Novembro 2008 - 7:05PM
Marketwired
Law Enforcement Associates Corporation (LEA) (AMEX: AID), the
largest U.S. developer and manufacturer of undercover surveillance
equipment, today announced that it filed a Form 25 with the
Securities and Exchange Commission, which is the official form
giving notice that the Company has elected to voluntarily withdraw
its listing on the American Stock Exchange. As a result of the
filing, the Company is set to be removed from trading on the AMEX
at the open of business on November 28, 2008. A market maker has
filed a Form 211 with FINRA to have the Company's common stock
re-listed on the Over-The-Counter Bulletin Board.
Management said the decision to withdrawal its AMEX listing was
motivated by a projected $100,000 in annual cost savings
opportunities. "We are making significant progress in our efforts
to improve our financial performance, reduce costs and ultimately
deliver sustained profitability," said Paul Feldman, president.
"Unfortunately, with the current turmoil in the markets, we do not
believe that the benefits of our AMEX listing have offset the
associated expenses. Moreover, we do not believe that the AMEX's
request that we execute a reverse split of our common stock would
have been in the best interest of our shareholders."
About Law Enforcement Associates Corporation
LEA is a leading security and surveillance technology company
that manufactures and markets a diverse product line to the
worldwide law enforcement, military, security and corrections
markets. The company's Audio Intelligence Devices (AID) division
has been serving the law enforcement sector for more than 30 years
and is one of the most respected names in the surveillance
equipment industry. LEA's products are used by a wide variety of
government and non-governmental agencies, as well as public and
private companies. These include military bases, nuclear
facilities, embassies, government installations, oil refineries,
United Nations and NATO locations. The company enjoys close working
relationships with other prominent players in the security and
surveillance industry, including Smith & Wesson, one of the
world's largest manufacturers of quality firearms and firearm
safety/security products. LEA's products have been used at
high-profile events such as the Summer & Winter Olympics, Super
Bowl, U.S. Golf Championship, and the Democratic and Republican
National Conventions. Its products include the Under Vehicle
Inspection System (UVIS), Smith & Wesson-branded UVIS Swift,
EDK123 (Explosive Detection Kit), Bloodhound and Birddog GPS
Tracking Systems, Graffiti Cam, Letter-bomb Visualizer Spray, and a
wide variety of Audio & Video Surveillance Equipment.
Headquartered in Raleigh, N.C., the company has been featured in
many industry publications and websites. For more information,
please visit www.leacorp.com.
Forward-Looking Information:
The statements in this news release contain forward-looking
information within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements that use words such as "believe,"
"anticipate," "estimate," "intend," "could," "plan," "expect,"
"project," "predict," "forecast," "outlook," "potential,"
"continue," "may," "future," "can," "enhance," and "should," or the
negative of these, as well as similar expressions, can be used to
identify forward-looking statements. Such forward-looking
statements involve certain risks, assumptions and uncertainties,
including the inability to generate and secure the necessary
product sales, or the lack of acceptance of the company's products
by its customers. In each case actual results may differ materially
from such forward-looking statements. The company does not
undertake to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that
any projected results (expressed or modified) will not be
realized.
CONTACT: Pfeiffer High Investor Relations, Inc. Geoff High
303-393-7044
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