SOURCE: SupportSave Solutions, Inc.

SupportSave Solutions, Inc.

August 16, 2012 15:45 ET

SupportSave Announces Filing of Form 15 to Suspend SEC Reporting Obligation

LOS ANGELES, CA--(Marketwire - Aug 16, 2012) - SupportSave Solutions, Inc. (OTCBB: SSVE) today announced that it has voluntarily filed a Form 15 with the Securities and Exchange Commission (SEC). Upon such filing, the Company's obligation to file certain reports with the SEC, including annual, quarterly, and current reports on Forms 10-K, 10-Q and Form 8-K, respectively, will be immediately suspended.

After thoughtful and deliberate consideration, the Company made this decision based upon a thorough review of the associated costs and benefits of being an SEC-registered company and the underlying regulatory reporting obligations. The Company believes that the incremental cost of compliance with SEC public reporting requirements does not provide a discernible benefit to the Company and its shareholders.

The Company believes that this step will enable the it to further refine SupportSave' s focus and execution to:

  • Demonstrate continued revenue growth.
  • Explore new and expanded strategic business opportunities.
  • Enhance the Company's long-term value by highlighting revenue growth, service value, the pipeline of opportunities and growth with respect to any future strategic decisions.

Christopher Johns, CEO of SupportSave, said, "We have deliberately chosen to file a Form 15 with the SEC to allow SupportSave to focus on expanding our business without the associated costs of regulatory reporting and filing. Although the cost savings associated with this decision provide SupportSave the opportunity to invest more deeply in our business execution strategy, there are larger benefits to the company, such as being more flexible in our communications strategy, like many of the competitors in our space, while building the long-term valuation of the company that better reflects our technologies, revenue growth, pipeline and market potential."

Johns concluded, "As I've stated previously, our constant goal is to expand our revenues in what we believe to be a rapidly growing market, with a product portfolio that is world class. We're confident that today's step will help us fulfill this commitment and afford us more strategic options going forward."

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