Nature's Sunshine Products Reports Receipt of Noncompliance Notice from Nasdaq
24 Marzo 2006 - 3:30PM
Business Wire
Nature's Sunshine Products Inc. (NASDAQ:NATRE) announced today
that, on March 21, 2006, it received notice from The Nasdaq Stock
Market that, because the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2005 was not filed with the
Securities and Exchange Commission by March 16, 2006, the Company
is not in compliance with Marketplace Rule 4310(c)(14). As was
previously disclosed, the Company has not been in compliance with
Nasdaq Marketplace Rule 4310(c)(14) because it has not filed a
complete quarterly report on Form 10-Q for the quarter ended
September 30, 2005. However, the Nasdaq Listing Qualifications
Panel granted the Company an extension until March 31, 2006 to file
its complete Form 10-Q. The Company's delayed filing of its Form
10-K serves as an additional basis for delisting the Company's
common stock from the Nasdaq National Market. The Company has
previously disclosed in filings with the Securities and Exchange
Commission that, because of issues raised in the Company's ongoing
internal investigation, the Company does not expect to be able to
meet the March 31, 2006 10-Q filing deadline set by the Panel for
filing the Company's September 30, 2005 Form 10-Q nor does the
Company expect to file its annual report on Form 10-K for the
fiscal year ended December 31, 2005 on or before March 31, 2006.
The Company intends to consider seeking an extension to file both
the Form 10-Q and the Form 10-K. However, no assurance can be made
that the Company will be granted any further extension and,
therefore, the Company's common stock may be subject to delisting
from the Nasdaq National Market. If the Company's common stock is
delisted from the Nasdaq National Market, the liquidity of its
common stock would be adversely impacted and the Company may
experience other adverse consequences resulting from the delisting
and the failure to file periodic reports. About Nature's Sunshine
Nature's Sunshine Products manufactures and markets through direct
sales encapsulated and tableted herbal products, high quality
natural vitamins, and other complementary products. In addition to
the United States, the Company has operations in Japan, Mexico,
Central America, South Korea, Canada, Dominican Republic,
Venezuela, Ecuador, Peru, the United Kingdom and Ireland, Colombia,
Brazil, Thailand, Israel, Singapore and Taiwan. The Company also
has exclusive distribution agreements with selected companies in
Argentina, Australia, Chile, New Zealand, Norway, and the Russian
Federation. Statements in this press release concerning the
Company's request to remain listed and its anticipated filing of
periodic reports with the Securities and Exchange Commission,
together with other statements that are not historical facts, are
"forward-looking statements" as that term is defined under Federal
Securities Laws. "Forward-looking statements" are subject to risks,
uncertainties and other factors, which could cause actual results
to differ materially from those set forth in such statements. Such
risks, uncertainties, and factors include, but are not limited to,
the results of the Company's ongoing internal investigation, the
impact of the delisting of the Company's common stock and failure
to file periodic reports and foreign business risks, as well as
other risks detailed in the Company's filings with the Securities
and Exchange Commission. The Company disclaims any obligations to
update any forward-looking statement as a result of developments
occurring after the date of this press release.
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