General Bearing Will Continue Financial Reporting After Delisting

Resource from: CBCC Likes:2971

Mar 29,2005

General Bearing Company (USA) announced it will continue to publicly post audited quarterly and annual financial statements, despite its intention to, "go dark." The statements will be available on its web site, http://www.GeneralBearing.com When the company filed earlier this month with the Securities and Exchange Commission to deregister and delist its stock, most believed it would also stop releasing public financials. article: General Bearing files to delist its stock Publicly traded companies can file for deregistration if they have fewer than 300 shareholders of record, or fewer than 500 holders of record and under $10 million in assets for each of the past three fiscal years. However, studies have shown there is a significant hit to the market value of a company when it goes dark, primarily due to the resulting lack of publicly available financial information. By continuing to offer audited financials, General Bearing may be able to limit the downside impacts, maintain better liquidity and access to capital, while at the same time keeping the door open to becoming publicly traded again.

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