Press Release

Enable IPC Corporation Voluntarily Files Form 15 to Suspend SEC Reporting Obligations

 

VALENCIA, Calif. – Enable IPC Corporation (OTCBB: EIPC) today announced that its Board of Directors unanimously approved the voluntary termination of the registration of its common stock under Section 12(g) of the Securities Exchange Act of 1934, as amended. On or about January 7, 2009, in accordance with the resolutions adopted by its Board of Directors, Enable IPC will file a Certification and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission (SEC) to effect this termination. The Company is eligible to deregister its common stock because it had fewer than 300 holders of record of its common stock at the beginning of its fiscal year.

Upon the filing of Form 15, the Company's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q, and 8K, will be immediately suspended. Enable IPC expects that the deregistration of its common stock will become effective 90 days after the date of filing of Form 15 with the SEC.

While no longer required by the SEC after deregistering, Enable IPC plans to continue to provide quarterly, annual and other information regarding the Company's performance to its shareholders via the OTC News and Disclosure Service and through its email database and website. In addition, the Company anticipates that trading will continue in the Company's common stock on the Pink Sheets under the same symbol of "EIPC".

In reaching its decision, the Board of Directors of Enable IPC evaluated the advantages and disadvantages of continuing to operate as a reporting company in light of such factors as the costs and expenses of compliance with the Sarbanes-Oxley Act of 2002, the ongoing burden associated with the preparation and filing of periodic and current reports with the SEC and the substantial diversion of management's time and efforts from the tasks required to grow the Company's business. The Board of Directors also considered the Company's capital requirements and the projected ability to meet those needs in 2009 given the current turmoil in the public markets.

"The Company is not going private or 'going dark'," said David Walker, CEO of Enable IPC. "We expect to save more than $100,000 annually by making this move, which will allow us greater focus on creating shareholder value."

Rich Kaiser, President of Yes International, Enable IPC's investor relations firm, said, "A number of companies are making this move. The market conditions, auditing, legal and other expenses required to maintain the SEC reporting requirements, plus the onerous filings required to raise capital, combine to make it untenable for a lot of organizations to continue to be 'reporting' companies."

About Enable IPC Corp. (Intellectual Property Commercialization)

Enable IPC (http://www.enableipc.com) provides efficient, streamlined strategies for turning technologies into products and bringing them to market. The company seeks to turn technologies into products and is a transparent, fair turnkey partner for sub-licensing and joint development with other companies.

Forward-Looking Statements

This release may contain forward-looking statements, such as "anticipate," "likely," "could" and similar terminology that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the ability to secure additional financing for the company, changing economic conditions, business conditions, and the risks inherent in the operations of a company.

Contacts:

Product Inquiries:
Kevin Leonard
(608) 244-2799
kevin.leonard@solrayo.com

Investor Relations:
Rich Kaiser
(800) 631-8127
ir@enableipc.com

 

 
   
     
 

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