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DecisionPoint Systems Appoints Haskell & White LLP As Independent AuditorsIRVINE, Calif., Feb. 8, 2016 /PRNewswire/ -- DecisionPoint™ Systems, Inc. (OTC: DPSI and DPSIP), today announced that it has appointed Irvine, CA-based Haskell & White LLP to be its independent auditor, a step intended to reduce and control expenses and yet provide an effective degree of oversight of its financial statements. The Company also announced it has filed Form 15 with the Securities and Exchange Commission (SEC) in order to effect a termination of registration of its common stock under the Securities and Exchange Act of 1934. Upon the filing of Form 15, the Company's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, were immediately suspended. The Company may elect to become a reporting company again in the future. The Company intends to continue reporting its audited annual financial results in press releases and on its website, and to report to its shareholders in accordance with Delaware law and the Company's bylaws. The Company anticipates that having filed Form 15, its common and preferred stock will be quoted on the Pink Sheets, a centralized electronic quotation service for over-the-counter securities, so long as market makers demonstrate an interest in trading in the shares. However, DecisionPoint cannot guarantee that trading in its common stock will continue in the Pink Sheets or in any other form. Information about the Pink Sheets can be accessed via the Internet at www.pinksheets.com. DecisionPoint has decided to voluntarily deregister its common stock because its shares are currently held by fewer than 300 record holders and are thinly traded. Deregistering will permit the Company to reduce expenses associated with compliance efforts as well as avoiding increased professional fees and other administrative costs that will be required to comply with rules and regulations. The Company does not believe the benefits of having its common stock registered outweigh the costs, and it believes that deregistering will enable management to negotiate more effectively with those parties who have expressed interest in helping to srengthen and recapitalize the Company, concentrating on its core competencies and divesting non-core operations. In deciding to voluntarily deregister the common stock, the Board of Directors considered several factors, including the following:
About Haskell & White LLP Find out more at www.hwcpa.com. Connect with Haskell & White at www.facebook.com/haskellandwhite and www.twitter.com/haskellandwhite. About DecisionPoint™ Systems, Inc. Forward-Looking Statements Contacts: DecisionPoint™ Systems, Inc. DresnerAllenCaron
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/decisionpoint-systems-appoints-haskell--white-llp-as-independent-auditors-300216207.html SOURCE DecisionPoint Systems, Inc. |