Avistar Communications Corporation (www.avistar.com), has announced that it has voluntarily filed a Form 15 with the Securities and Exchange Commission (SEC). Upon such filing, the Company’s obligation to file certain reports with the SEC, including annual, quarterly, and current reports on Forms 10-K, 10-Q and Form 8-K, respectively, will be immediately suspended.
Their press release says that “After thoughtful and deliberate consideration, the Company’s Board of Directors made this unanimous decision based upon a thorough review of the associated costs and benefits of being an SEC-registered company and the underlying regulatory reporting obligations. The Company believes that the incremental cost of compliance with SEC public reporting requirements does not provide a discernible benefit to the Company and its shareholders.”