SMAS - news) disclosed that they have completed the first round of financial reporting for submission to their auditing firm. Auditors will begin the review process of the company's financial data this week.Somatic Systems, Inc. (
Last month, the company announced they had begun preparing the necessary financial records and documentation to undergo auditing to become fully reporting with the Securities and Exchange Commission. Somatic Systems is completing this process so that they can uplist from the Pinksheets to the OTC Bulletin Board stock exchange. The company stated their intention to complete this process by the next fiscal quarter or sooner.
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 substantially. In addition to greater accountability for shareholders, listing on higher exchanges such as the OTCBB frequently allows for greater growth in a company's market value and access to more optimal capital sources, which would help Somatic Systems' expansion efforts considerably.
"We are pleased with the progress of our efforts to become fully reporting and to uplist to the OTCBB," stated Somatic Systems CEO Steven Aronstein. "We want shareholders to know that we continue to reach our milestones on schedule and remain on track to achieve this exciting and lucrative goal."
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.