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CoSine Announces Effective Date for Its Reverse/Forward Stock Split

LOS GATOS, Calif. Jan. 20, 2011 January 10, 2011 January 21, 2011 $2.24

CoSine anticipates that upon completion of the reverse and forward stock splits, CoSine will have fewer than 300 stockholders of record, enabling CoSine to deregister its common stock under the Securities Exchange Act of 1934, as amended, and as a result thereof, to terminate its periodic reporting obligations with the Securities and Exchange Commission.  CoSine intends to continue to provide interim unaudited financial information and annual audited financial information to its stockholders. CoSine is taking these steps to avoid the substantial and increasing cost and expense of being an SEC reporting company and of regulatory compliance under the Sarbanes-Oxley Act of 2002, and to focus CoSine’s resources on the redeployment of its existing assets to acquire, or invest in, one or more operating businesses with existing or prospective taxable income, or from which it can realize capital gains, that can be offset by use of its net operating loss carry-forwards.

On the Effective Date, CoSine’s transfer agent, BNY Mellon Shareholder Services, will provide instructions to stockholders relating to payments to cashed out stockholders and to the issuance of new certificates to continuing stockholders.  

November 29, 2010

About Cosine Communications

December 31, 2006

CoSine’s Certificate of Incorporation limits the ability of any group or person to acquire 5% or more of CoSine’s common stock (subject to certain exceptions as provided in the Certificate of Incorporation) in order to protect CoSine’s ability to utilize its NOLs and renders inapplicable to CoSine the limitations of Section 203 of the Delaware General Corporation Law.

Safe Harbor Warning

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which include, among others, statements concerning CoSine’s expected financial performance, exploration of strategic alternatives, and business outlook, expected performance and developments. CoSine uses words such as "anticipate," "believe," "plan," "expect," "future," "intend" and similar expressions to identify forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. 

Factors that might cause such a difference include, but are not limited to, Cosine’s ability to identify and effectuate desirable strategic acquisitions, the time and costs required to explore and investigate possible transactions and other corporate actions, management and board interest in and distraction due to exploring and investigating strategic alternatives, the reactions, either positive or negative, of investors, competitors, customers, employees and others to CoSine exploring and executing possible strategic acquisitions.  A detailed discussion of these factors and other risks that affect CoSine’s business is contained in its SEC filings, including its most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."  Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date hereof. CoSine undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements.

For additional information contact:

Terry Gibson

(408) 399-6494

E-mail: [email protected]

SOURCE CoSine Communications

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