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BioForce Nanosciences Holdings, Inc. (BFNH.OB) Voluntarily Files Form 15 to Suspend SEC Reporting Obligations


4/15/2009 10:49:31 AM

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 been suspended.

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.


Contacts:

Company Contact
Gregory D. Brown
Chief Financial Officer
515-233-8333 ext# 118
Email Contact

Investor Relations
Yes International
Rich Kaiser
800-631-8127


Read at BioSpace.com

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