DALLAS, TX--(Marketwire - August 26, 2011) - Metiscan, Inc.("Company"), publicly traded on the Pink Sheets (PINKSHEETS: MTIZ), announces today that Company's new management team is preparing to file a new Registration Statement on Form-10 with the Securities and Exchange Commission (SEC).
On Aug 18th, 2011, Company withdrew its Registration Statement on Form S-1 filed under previous management. New management believes it is in the best interest of the Company to prepare and file a new registration statement on Form 10 to become a fully reporting company. The new registration statement will provide more detailed and in-depth information on the new business operations Company carries out after the acquisition of Aclor, Inc. in July 2011. New management also plans to make the Company's stock quoted on the Over-the-Counter Bulletin Board after it becomes "fully reporting."
Curtis Gung, President and CEO of Metiscan, Inc., commented, "We believe it is in the best interest of the Company and our shareholders to become a fully reporting company whose stock is traded on the Over-the-Counter Bulletin Board. We are making every effort to achieve those two goals."
About Metiscan, Inc.
Metiscan, Inc. is a holding company. Its sole, majority owned subsidiary Aclor, Inc. is an international manufacturer and supplier of private label paper products. Aclor's customers include some of the most recognized and reputable office supply mass retailers worldwide and also include the largest consumer and office retailer in the United States. Aclor produces composition notebooks, spiral notebooks, wireless notebooks, and filler paper in its factory located in Nuevo Laredo, Tamaulipas, Mexico.
Safe Harbor Statement: Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Metiscan's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.