AMES, IA--(Marketwire - April 14, 2009) - BioForce Nanosciences Holdings, Inc. (OTCBB: BFNH), a producer of products and solutions for academic and commercial
users based upon its ultra-micro to nano scale fluid deposition platform,
filed paperwork today with the Securities and Exchange Commission (SEC) to
terminate the Company's registration under the Securities Exchange Act of
1934, as amended. As a result, the Company's obligation to file periodic
and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, has
Kerry Frey, President and Chief Executive Officer of BioForce, said, "We
engaged in a thorough analysis of the benefits and costs associated with
remaining a small reporting company. Factors considered included the
onerous costs of compliance required by the Sarbanes-Oxley Act of 2002, the
ongoing burden associated with the preparation and filing of periodic and
current reports with the SEC, and the substantial diversion of management's
time and efforts from the tasks required to grow the Company's business.
Our conclusion was that in this environment we could no longer justify the
estimated $200,000 of annual costs of SEC reporting and Sarbanes-Oxley
compliance, and that those funds are better spent on value creating
activities such as sales, marketing and product development."
Greg Brown, Executive Vice President and Chief Financial Officer of
BioForce, said, "BioForce is not going private or 'going dark.' While no
longer required by the SEC after deregistering, we plan to continue to
provide quarterly and annual updates, and other information regarding the
Company's performance to its shareholders via the Pink Sheets' OTC News and
Disclosure Service as well as through our e-mail database and website. In
addition, the Company anticipates that trading will continue in the
Company's common stock on the Pink Sheets under the same symbol of 'BFNH.'"
For further information about this release please contact Greg Brown, Chief
Financial Officer of BioForce at (515) 233-8333 ext. 118, or Rich Kaiser,
Investor Relations at (800) 631-8127.
About BioForce Nanosciences Holdings, Inc.
BioForce Nanosciences produces products and solutions for academic and
commercial users based upon its ultra-micro to nano scale fluid deposition
platform. BioForce's flagship product, the Nano eNabler™ molecular
printer, gives the Company and its customers a platform for development and
discovery by printing tiny domains of biological materials on surfaces with
nanometer spatial precision. BioForce technology is being used in areas
such as biosensor functionalization; patterning and cell adhesion; and the
printing of proteins to direct stem cell differentiation. For more
information, visit www.bioforcenano.com or call 515-233-8333.
This news release contains forward-looking information that may be affected
by certain risks and uncertainties, including those risks and uncertainties
described in BioForce Nanosciences' most recent filings with the Securities
and Exchange Commission. BioForce Nanosciences' actual results could differ
materially from such forward-looking statements. BioForce assumes no duty
to update these statements at any future date.