CLEVELAND, Aug. 13 /PRNewswire-FirstCall/ -- DATATRAK International, Inc. (Pink Sheets: DATA), a technology and services company focused on global eClinical solutions for the clinical trials industry, today announced it will be releasing its operating results for the second quarter and first-half of 2009 on Monday, August 17, 2009. In addition, DATATRAK's second quarter report as filed with Pink OTC Markets will be available on August 17th at http://www.pinksheets.com/ under the symbol: DATA. The Company has elected to follow the Pink OTC Markets OTCQX Guidelines for Providing Adequate Current Information, the highest tier and most transparent level of disclosure available to the Company.
In addition, as previously announced on August 3, 2009, the Company filed a Certificate and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission (the "SEC") today to effect (i) the voluntary deregistration of the Common Shares and related preferred share purchase rights (collectively, the "Securities") under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"); and (ii) the suspension of its reporting obligations with respect to its Common Shares under Section 15(d) of the Exchange Act. The Company was eligible to deregister because there are fewer than 300 holders of record of its Securities. Upon the filing of the Form 15, the Company's obligations to file certain reports and forms with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, were immediately suspended. The Company expects the deregistration of its Securities to become effective 90 days after the filing of the Form 15.
The Company's Common Shares have been quoted on the Pink Sheets Electronic Markets since June 4, 2009. The Company anticipates that its Common Shares will continue to be quoted on the Pink Sheets Electronic Markets after filing of the Form 15, but the Company can make no assurance that any broker will continue to make a market in the Common Shares.
About DATATRAK International, Inc.
DATATRAK International, Inc. is a worldwide technology company focused on the provision of multi-component eClinical solutions and related services for the clinical trials industry. We operate under the concept of DATATRAK ONE(TM), which encompasses our unique, single platform technology. The singular architecture of our DATATRAK eClinical(TM) product suite has been embraced by clients around the globe for its ability to effectively manage clinical trials through an integrated multi-component, comprehensive solution. The Company delivers a complete portfolio of software products that were created in order to accelerate clinical research data from investigative sites to clinical trial sponsors and ultimately the FDA, faster and more efficiently than manual methods or loosely integrated technologies. DATATRAK's eClinical(TM) software suite can be deployed worldwide through an ASP offering or in a licensed Enterprise Transfer model that fully empowers its clients. The DATATRAK software suite and its earlier versions have successfully supported hundreds of international clinical trials involving thousands of clinical research sites and encompassing tens of thousands of patients in 59 countries. DATATRAK International, Inc.'s product suite has been utilized in some aspect of the clinical development of 16 drugs and one medical device that have received regulatory approval from either the United States Food and Drug Administration or counterpart European bodies. DATATRAK International, Inc. has offices located in Cleveland, Ohio, and Bryan, Texas. Visit the DATATRAK International, Inc. web site at http://www.datatrak.net/.
Except for the historical information contained in this press release, the statements made in this release are forward-looking statements. These forward-looking statements are made based on management's expectations, assumptions, estimates and current beliefs concerning the operations, future results and prospects of the Company and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond the control of the Company. Factors that may cause actual results to differ materially from those in the forward-looking statements include the limited operating history on which the Company's performance can be evaluated; the ability of the Company to continue to enhance its software products to meet customer and market needs; fluctuations in the Company's quarterly results; the viability of the Company's business strategy and its early stage of development; the timing of clinical trial sponsor decisions to conduct new clinical trials or cancel or delay ongoing trials; the Company's dependence on major customers; government regulation associated with clinical trials and the approval of new drugs; the ability of the Company to compete in the emerging EDC market; losses that potentially could be incurred from breaches of contracts or loss of customer data; the inability to protect intellectual property rights or the infringement upon other's intellectual property rights; the costs associated with maintaining and/or developing two product suites; and general economic conditions such as the rate of employment, inflation, interest rates and the condition of capital markets. This list of factors is not all-inclusive. In addition, the Company's success depends on the outcome of various strategic initiatives it has undertaken, all of which are based on assumptions made by the Company concerning trends in the clinical research market and the health care industry. The Company undertakes no obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise.
DATATRAK International, Inc.
CONTACT: Raymond J. Merk, Chief Financial Officer and Chief Operating
Officer of DATATRAK International, Inc., +1-440-443-0082, Ext. 181
Web Site: http://www.datatrak.net/
