NASHUA, N.H., Sept. 29, 2011 /PRNewswire/ -- Ezenia! Inc. (OTCBB: EZEN.OB), a leading market provider of real-time situation awareness, command and control solutions for corporate and government networks, today announced that it has filed a Form 15 with the Securities and Exchange Commission (SEC) to deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended. As a result of filing the Form 15, the Company will no longer be required to file reports under the Exchange Act, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K. Upon the filing of the Form 15, the Company's securities will no longer be eligible for quotation on the Over The Counter Bulletin Board (OTCBB). The Company expects that the deregistration will become effective 90 days after the filing of Form 15 with the SEC.
The Company has announced that it is planning to seek protection from its creditors under chapter 11 of the federal bankruptcy code.
About Ezenia! Inc.
Ezenia! Inc., founded in 1991, is a leading provider of secure real-time collaboration solutions, bringing new and valuable levels of interaction and collaboration to government and commercial enterprises. By integrating voice, video and data collaboration, the Company's award-winning products enable groups to interact through a natural meeting experience regardless of geographic distance. Ezenia! products allow dispersed groups to work together in real time using powerful capabilities such as instant audio and text chat, white boarding, screen sharing and secure file storage. The ability to discuss projects, share information, and modify documents allows users to significantly improve team communication, enhance overall situational awareness and accelerate the decision-making process in a secure environment. More information about Ezenia! Inc. and its product and service offerings can be found at the Company's website, http://www.ezenia.com.
Note to Investors Regarding Forward-Looking Statements
Statements included herein that are not historical facts may be considered forward-looking statements. You can identify these forward-looking statements by use of the words "expects," "anticipates," "estimates," "believes," "projects," "intends," "plans," "will," "may," and similar words. Such forward-looking statements, which include statements regarding the Company's business and financial outlook, expense control and cash balance, ability to obtain new bookings and renewal orders and the impact thereof, launch of new products or product capabilities, pipeline of sales opportunities and resulting effects, and long-term strategy, involve risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements. These risks and uncertainties include the considerations that are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, such as the Company's liquidity concerns and history of operating losses, the evolution of Ezenia!'s market, dependence on the United States government as its largest customer and on other major customers, continued funding of defense programs by the United States government and the timing of such funding, uncertainties associated with procurement processes and on-going bidding activities for government programs, rapid technological change and competition within the collaborative software market, the Company's reliance on third-party technology, protection of its proprietary technology, customer acceptance of InfoWorkSpace and other new products including the acceptance of the Company's products in the commercial market, retention of key employees, stock price volatility, and other considerations that are discussed further in such report. You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation to update forward-looking statements after the date of such statements.
CONTACT: Larry Snyder, 206-612-4965, lsnyder@ezenia.com
SOURCE Ezenia! Inc.
