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Helix BioMedix, Inc. (HXBM) Announces Plan for Voluntary Suspension of SEC Reporting Obligations


9/11/2012 10:03:49 AM

BOTHELL, Wash.--(BUSINESS WIRE)--Helix BioMedix, Inc. (OTCQB: HXBM) (the “Company”), a developer of bioactive peptides, today announced that it has filed a Schedule 13E-3 and related preliminary proxy statement with the Securities and Exchange Commission (the “SEC”) in connection with a proposed transaction that is intended to result in the suspension of the Company’s public reporting obligations under the Securities and Exchange Act of 1934 (the “Exchange Act”). The proposed transaction is expected to permit the Company to forego many of the expenses associated with operating as a public reporting company, including the costs of preparing and filing periodic reports with the SEC, related accounting fees and costs, and the ongoing expenses for compliance with the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”).

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