SMAS - news) today formally announced their plans to uplist from the Pinksheets to the OTC Bulletin Board stock exchange. The company has begun preparing the necessary documentation to become fully reporting with the Securities and Exchange Commission, including preparing their financial reporting for the auditing process.Somatic Systems, Inc. (
Somatic Systems has been reviewing the possibility of full reporting and uplisting for some time, and recently begun the steps necessary to complete this process. The company intends to complete this process as soon as possible, and expects to reach this goal by next quarter or sooner.
The company discussed their reasons for this significant move for a Pinksheets company, including providing greater accountability and transparency for shareholders, access to capital sources that enable optimal growth of Somatics business operations, and greater protections and stability for shareholders and share value.
Somatic Systems is engaged in a nationwide expansion of its groundbreaking pain management system, including worldwide Somatics self-help product distribution as well as rollout of a chain of Somatics pain care clinics and retail locations and franchises. The company is also involved in aggressive promotion and growth opportunities, including talks with the US military and professional sports teams as well as increasing television and other media coverage. All of these ventures promise to grow the company considerably. Commonly, listing on higher exchanges such as the OTCBB allows for greater growth in a company's market value, which would help Somatic Systems with these expansion efforts significantly.
"Becoming a fully reporting and listed company is something we have planned since before we joined the Pinksheets," stated Somatic Systems CEO Steven Aronstein. "We want to provide shareholders with an even more solidly trading and growing public company, and an even more trustworthy investment. The growth we are seeing in Somatics is exciting, and we are even more excited for the higher stock exchanges to expand our financial opportunities to capitalize on that growth dramatically."
About Somatic Systems, Inc.
Somatic Systems is the worldwide center for Clinical Somatics™, the groundbreaking drug-free, non-surgical approach to pain relief. This proprietary system uses natural, non-invasive movement techniques -- conducted through one-hour hands-on sessions, therapeutic exercises classes, and home exercises lasting as little as 5 minutes a day -- to relieve pain and limitation resulting from accident, trauma and repetitive stress, including back pain, knee pain, joint problems, carpal tunnel syndrome, TMJ, scoliosis, bursitis, sciatica, headaches, tendonitis and more. Clinical Somatics™ also provides performance gains and injury prevention for casual and professional athletes.
Somatic Systems is pursuing a 3-part growth strategy, consisting of a nationwide rollout of pain management Somatics Clinics; increased production and distribution of therapeutic videos, books, and other retail self-help Somatics Products; and expanded Somatics Training Programs to supply Clinic practitioners serving medical and orthopedic professionals and institutional and corporate programs. The company operates a suite of web sites offering Somatics information, products, resources, and opportunities, at www.somatics.org.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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SOURCE: Somatic Systems, Inc.