SOURCE: Hawk Systems Inc.

April 05, 2011 09:00 ET

Hawk Systems, Inc. Announces Filing of SEC Form 15

WEST PALM BEACH, FL--(Marketwire - April 5, 2011) - Hawk Systems, Inc. (PINKSHEETS: HWSY) today announced that it has filed a Form 15 with the Securities and Exchange Commission voluntarily effecting its deregistration under Section 12(g) of the Securities Exchange Act of 1934, and as such will suspend its reporting requirements under Section 15(d) of the Exchange Act.

David Coriaty, Founder and COO stated, "The decision to become a non-reporting public company has not been entered into lightly. The Board of Directors has sought advice from outside sources regarding the issues involved. Based on these discussions, the Board has determined that there is no significant economic benefit to the Company continuing as a fully-reporting company. Becoming a non-reporting company will result in substantial costs savings for the Company. In addition, by eliminating the burden of filing quarterly and annual reports with the SEC, management's time will be freed up to concentrate more efficiently on the long-term goals of the Company and business development." Shares will still be available for trading on the over the counter "Pink Sheets" published by the National Quotation Bureau. In addition, the Company will continue to fully comply with the requirements of Delaware corporate law.

About the Company:
Hawk Systems, Inc., a Delaware corporation, is a developer of innovative fingerprint authentication technology that it believes offers high degrees of security, convenience, and ease of use in applications such as automobile locks and potentially identity theft protection. The Company believes that this type of technology can also be used in banking, healthcare, hotel/casino operations, employee time clock and attendance, stadium security, sporting and gaming applications where identity management is required.

The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as those relating to consummation of transactions and anticipated future revenue of the Company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements.

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