SAN DIEGO, CA -- (Marketwire) -- 10/10/12 -- EdgeWave, Inc., a leading provider of Secure Content Management (SCM) solutions, has released information about the decision to file a Form 15 with the Securities and Exchange Commission ("SEC"). The Form 15, filed on September 5, 2012, was the Company's last filing with the SEC except for the Form 10-K and accompanying audited financial statements for the eight month transition periods ended August 31, 2012 and 2011, which is expected to be filed in November 2012.
Lou Ryan, CEO of EdgeWave, explained how the decision to file the Form 15 was reached: "The Company carefully assessed all aspects of this important decision and concluded that the benefits to be derived are substantial. EdgeWave will achieve significant savings by not being required to file periodic SEC reports and from the legal and auditing expenses associated with these filings. We believe this change will serve to increase the Company's value as a successful and growing enterprise."
Mr. Ryan also explained what deregistration means and how it will affect current shareholders and others. He stated, "Essentially, this means that EdgeWave stock will no longer be registered under the Securities and Exchange Act." He also assured that this in no way affects the status of current owners of EdgeWave stock, who continue to retain their status as shareholders.
Mr. Ryan continued, "Although there is a possibility that deregistration may affect the market for our stock, EdgeWave stock may still be traded if brokers who have traded it in the past continue to do so. We expect our common shares will be quoted on the Pink Sheets, as long as the market makers show an interest in trading EdgeWave's common stock. However, we can offer no assurance that trading will continue in any forum."
Mr. Ryan said that EdgeWave will continue to provide information about their products, events and other important developments through their website at www.edgewave.com.
About EdgeWave, Inc.
EdgeWave, Inc. develops and markets on demand, on-premises, and hybrid Secure Content Management (SCM) solutions to the mid-enterprise and service provider markets. The EdgeWave portfolio of web, email and data protection technologies delivers comprehensive secure content management with unrivalled ease of deployment and low Total Cost of Ownership (TCO). EdgeWave products and services include comprehensive Web Gateway Security with iPrism Web Security, iPrism Social Media Security, and iPrism cloud-based Remote Filtering solution and the ePrism Email Security Suite, fully-hosted solutions for Email Filtering, Email Data Loss Protection, Email Encryption, Email Continuity, which can be accessed from a single user interface and Email Archive. With thousands of customers and over 200 partners worldwide, EdgeWave strives to deliver simple, high performance solutions that offer excellent value.
Based in San Diego, California, EdgeWave markets its solutions through a network of value added resellers, ISPs and MSPs, distributors, system integrators, OEM partners and directly to end users. For more information about EdgeWave, visit www.edgewave.com.
©2012 EdgeWave, Inc. All rights reserved. The EdgeWave, iPrism, and ePrism Logos are trademarks of EdgeWave, Inc. All other trademarks and registered trademarks are hereby acknowledged.
This press release contains certain forward-looking information about EdgeWave that is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of EdgeWave. EdgeWave cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. If any of these risks or uncertainties materializes, or if any of the assumptions underlying such forward-looking statements proves to be incorrect, EdgeWave's results could differ materially from those expressed in, or implied or projected by such forward-looking statements. EdgeWave assumes no obligation to update such forward-looking statements, except as required by law.
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