SOURCE: Watercolor Holdings, Inc.

August 22, 2007 15:47 ET

WaterColor Holdings, Inc. F/K/A United Specialties, Inc. Announces SEC Action

WESTPORT, CT--(Marketwire - August 22, 2007) - WaterColor Holdings, Inc. (PINKSHEETS: WCHG) announced that the SEC had instituted an action to suspend trading in the WaterColor securities because of its failure to file required periodic reports. WaterColor has answered the Order of the SEC, and the action is proceeding. WaterColor intends to complete and file as many of its previous reports as it is able. If the SEC is successful, no trading would be permitted in WaterColor's securities.

Forward-Looking Statements:

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of WaterColor. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by WaterColor may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document are not purely historical are forward-looking statements, including any statements as to beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices and other economic actors. WaterColor assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.

Contact Information

  • Contact:
    Michael J. Porter
    President - Investor Relations
    212.564.4700