Nature's Sunshine Will Be Delisted from The Nasdaq National Market
April 04 2006 - 5:39PM
Business Wire
Nature's Sunshine Products, Inc. (NASDAQ:NATRE), a leading
manufacturer and marketer of encapsulated herbs and vitamins,
received a letter from The Nasdaq Stock Market indicating that the
Nasdaq Listing Qualifications Panel determined to delist the
Company's common stock from The Nasdaq National Market, effective
with the open of business on April 5, 2006. As previously reported,
the Company is not in compliance with Marketplace Rule 4310(c)(14)
because it has not timely filed its Quarterly Report on Form 10-Q
for the quarter ended September 30, 2005 nor its Annual Report on
Form 10-K for the fiscal year ended December 31, 2005. In addition,
the Company has also reported that KPMG LLP resigned as the
Company's independent registered public accounting firm on March
31, 2006. Because the Company could not reasonably determine
whether it will file a complete Quarterly Report on Form 10-Q for
the quarter ended September 30, 2005 by April 19, 2006, the latest
extension that the Panel could grant under the Marketplace Rules
for filing the 10-Q, the Company did not seek any further filing
extensions beyond the March 31, 2005 extension previously granted
by the Panel. As a result, the Panel determined to delist the
Company's common stock. The Company's common stock is not currently
eligible to trade on the OTC Bulletin Board because, as described
above, the Company is not current in its reporting obligations
under the Securities Exchange Act of 1934, as amended. The Company
expects that quotations for its common stock will appear in the
National Daily Quotations Journal, often referred to as the "pink
sheets," where subscribing dealers can submit bid and ask prices on
a daily basis. However, there can be no assurances that the
Company's common stock will be eligible for trading or quotation on
any alternative exchanges or markets. The Company will disclose
further timing and trading symbol information regarding the trading
of its common stock when such information becomes available. About
Nature's Sunshine Nature's Sunshine Products manufactures and
markets through direct sales encapsulated and tableted herbal
products, high quality natural vitamins, and other complementary
products. In addition to the United States, the Company has
operations in Japan, Mexico, Central America, South Korea, Canada,
Dominican Republic, Venezuela, Ecuador, Peru, the United Kingdom
and Ireland, Colombia, Brazil, Thailand, Israel, Singapore and
Taiwan. The Company also has exclusive distribution agreements with
selected companies in Argentina, Australia, Chile, New Zealand,
Norway, and the Russian Federation. Statements in this press
release concerning the Company's common stock trading on the "pink
sheets" and the OTC Bulletin Board, and the Company making required
filings with the Securities and Exchange Commission and otherwise
satisfying Nasdaq listing standards in order to regain compliance,
together with other statements that are not historical facts, are
"forward-looking statements" as that term is defined under Federal
Securities Laws. "Forward-looking statements" are subject to risks,
uncertainties and other factors, which could cause actual results
to differ materially from those set forth in such statements. Such
risks, uncertainties, and factors include, but are not limited to,
the results of Company's ongoing internal investigation, the impact
of the delisting of the Company's common stock and failure to file
periodic reports, foreign business risks and the Company's ability
to retain new independent auditors, as well as other risks detailed
in the Company's filings with the Securities and Exchange
Commission. The Company disclaims any obligations to update any
forward-looking statement as a result of developments occurring
after the date of this press release.
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