Conihasset Capital Partners (CNHA) Inactive
Filed: 13 Nov 07, 12:00am
Exhibit 99.1
PRESS RELEASE
CONIHASSET CAPITAL PARTNERS, INC. ANNOUNCES INTENTION TO DEREGISTER ITS
COMMON STOCK WITH THE SECURITIES AND EXCHANGE COMMISSION
BOSTON, November 9 -- Conihasset Capital Partners, Inc. (OTC Bulletin
Board: CNHA.OB) today announced that it intends to file a Form 15 on November
13, 2007 with the Securities and Exchange Commission to deregister its common
stock and suspend its reporting obligations under the Securities Exchange Act of
1934. The Company expects the deregistration to become effective within ninety
(90) days of the filing with the SEC.
As a result of the filing of the Form 15, the Company's obligation to file
with the SEC certain reports and forms, including Forms 10-KSB, 10-QSB and 8-K,
will immediately cease. The Company presently intends to continue to make
available its periodic financial information commencing with the period ending
September 30, 2007. The Company anticipates that its shares will be traded on
the Pink Sheets, but can make no assurances that any broker will make a market
in the Company's common stock. The Pink Sheets is a centralized quotation
service that collects and publishes market maker quotes in real time, primarily
through its web site, http://www.pinksheets.com/.
The Company's Board of Directors determined, after careful consideration,
that deregistering is in the overall best interests of the Company's
stockholders. Several factors were considered by the Board of Directors in
making this decision, including the following:
o The elimination of disproportionately large costs associated with the
preparation and filing of the Company's periodic reports and other filings
with the SEC;
o The elimination of substantial increases in legal, audit and other costs
associated with being a public company in light of new regulations
promulgated as a result of the Sarbanes-Oxley Act of 2002 and the SEC rules
thereunder;
o The nature and extent of current trading in the Company's common stock, which
is limited;
o The concentration of stock ownership in relatively few holders of the
Company's common stock; and
o The lack of analysts' coverage and minimal liquidity for the Company's common
stock.
Statements included in this press release that are not historical in
nature are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "1995 Act"). The words "believe,"
"expect," "anticipate," "estimate," "guidance," "target" and similar expressions
identify forward-looking statements. The Company cautions readers that
forward-looking statements are subject to certain risks and uncertainties, which
could cause actual results to differ materially from those projected in the
forward-looking statements. Certain risks and uncertainties are identified from
time to time in the Company's reports filed with the SEC. The Company claims the
protection of the safe harbor for forward-looking statements contained in the
1995 Act.
CONTACT:
Richard D. Bailey
President and Chief Executive Officer
Conihasset Capital Partners, Inc.
(617) 235-7215