PainCare to Voluntarily Delist from American Stock Exchange
09 Mai 2008 - 2:30PM
PR Newswire (US)
ORLANDO, Fla., May 9 /PRNewswire-FirstCall/ -- PainCare Holdings,
Inc. (AMEX:PRZ), a provider of pain-focused medical and surgical
solutions and services, today announced that it will voluntarily
withdraw its common stock from listing on the American Stock
Exchange ("AMEX"). PainCare's Board of Directors considered several
factors that include the following: -- The Company has failed to
timely file periodic reports with the Securities and Exchange
Commission (the "SEC"), in violation of Sections 134 and 1101 of
the AMEX Company Guide. -- The Company has failed to comply with
Sections 1003(a)(i); Section 1003(a)(ii) and Section 1003(a)(iii)
as well as Section 1003(a)(iv) of the AMEX Company Guide. For a
recap of the previously released details regarding the notice from
the American Stock Exchange please review the Press Release dated
April 22, 2008. PainCare currently intends that the delisting will
be effective on or about Thursday, May 29, 2008. After withdrawal
of its common stock from listing on the AMEX, the Company expects
that the shares will be quoted on the OTC Pink Sheets. PainCare
will announce its new ticker symbol at that time. About PainCare
Holdings, Inc. Headquartered in Orlando, Florida, PainCare
Holdings, Inc. is a provider 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 subsidiary Integrated Pain Solutions (IPS),
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: Investor/Shareholder Relations Dodi Handy, President and
CEO Elite Financial Communications Group, LLC at 407-585-1080 or
via email at DATASOURCE: PainCare Holdings, Inc. CONTACT: Dodi
Handy, President and CEO, Elite Financial Communications Group,
LLC, +1-407-585-1080, , for PainCare Holdings, Inc. Web site:
http://www.paincareholdings.com/
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