Paincare Receives Notice From American Stock Exchange
22 Août 2007 - 10:15PM
PR Newswire (US)
ORLANDO, Fla., Aug. 22 /PRNewswire-FirstCall/ -- PainCare Holdings,
Inc. (AMEX:PRZ), one of the nation's leading providers of
pain-focused medical and surgical solutions and services, today
announced that it received a letter from the American Stock
Exchange ("the AMEX") on August 16, 2007, notifying the Company
that its delay in filing its Form 10-Q for the three and six months
ended June 30, 2007, constitutes a failure to comply with the
continued listing standards set forth in Sections 134 and 1101 of
the AMEX Company Guide. On Thursday, August 16, 2007, PainCare
released a news announcement reflecting its comparative results for
the second quarter and year-to-date reporting periods. The
associated Form 10-Q is expected to be filed with the U.S.
Securities and Exchange Commission on or before August 30, 2007,
upon completion of its review by the Company's independent audit
firm. As noted in the aforementioned news announcement, PainCare
could not complete the Form 10- Q within the prescribed time
because the Company effected numerous dispositions of physician
practices during the second quarter resulting in the need for
additional time to complete the associated accounting and financial
reporting. To the extent PainCare is unable to file its Form 10-Q
by August 30, 2007, it will submit a plan of compliance advising
the AMEX of actions it has taken, or will take, to return to
compliance with the continued listing standards. About PainCare
Holdings, Inc. Headquartered in Orlando, Florida, PainCare
Holdings, Inc. is one of the nation's leading providers of
pain-focused medical and surgical solutions and services. Through
its proprietary network of acquired or managed physician practices,
and in partnership with independent physician practices and medical
institutions throughout the United States and Canada, PainCare is
committed to utilizing the most advanced science and technologies
to diagnose and treat pain stemming from neurological and
musculoskeletal conditions and disorders. Through its wholly owned
subsidiary, Caperian, Inc., PainCare offers medical real estate and
development services. Through Integrated Pain Solutions, the
Company is engaged in pioneering the nation's first managed
services organization that offers a multi-disciplinary healthcare
network focused on the treatment of pain. For more information on
PainCare Holdings, please visit http://www.paincareholdings.com/.
This press release contains forward-looking statements that may be
subject to various risks and uncertainties. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and are made based
on management's current expectations or beliefs as well as
assumptions made by, and information currently available to,
management. These forward-looking statements, which may include
statements regarding our future financial performance or results of
operations, including expected revenue growth, cash flow growth,
future expenses, future operating margins and other future or
expected performance, are subject to the following risks: the
acquisition of businesses or the launch of new lines of business,
which could increase operating expenses and dilute operating
margins; the inability to attract new patients by our owned
practices, the managed practices and the limited management
practice; increased competition, which could lead to negative
pressure on our pricing and the need for increased marketing; the
inability to maintain, establish or renew relationships with
physician practices, whether due to competition or other factors;
the inability to comply with regulatory requirements governing our
owned practices, the managed practices and the limited management
practices; that projected operating efficiencies will not be
achieved due to implementation difficulties or contractual spending
commitments that cannot be reduced; and to the general risks
associated with our businesses. In addition to the risks and
uncertainties discussed above you can find additional information
concerning risks and uncertainties that would cause actual results
to differ materially from those projected or suggested in the
forward-looking statements in the reports that we have filed with
the Securities and Exchange Commission. The forward-looking
statements contained in this press release represent our judgment
as of the date of this release and you should not unduly rely on
such statements. Unless otherwise required by law, we undertake no
obligation to publicly update or revise any forward- looking
statements, whether as a result of new information, future events
or otherwise after the date of this press release. In light of
these risks and uncertainties, the forward-looking events and
circumstances discussed in the filing may not occur, and actual
results could differ materially from those anticipated or implied
in the forward-looking statements. FOR MORE INFORMATION, PLEASE
CONTACT: Media Relations Suzanne Beranek, APR, Beranek
Communications, LLC 407-475-0763 or via email at
Investor/Shareholder Relations Elite Financial Communications
Group, LLC Dodi Handy, President and CEO, or Daniel Conway, Chief
Strategist 407-585-1080 or via email at DATASOURCE: PainCare
Holdings, Inc. CONTACT: Media Relations, Suzanne Beranek, APR,
Beranek Communications, LLC, +1-407-475-0763, ; or Investor-
Shareholder Relations, Dodi Handy, President and CEO, or Daniel
Conway, Chief Strategist, both of Elite Financial Communications
Group, LLC, +1-407-585-1080, Web site:
http://www.paincareholdings.com/
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