DELRAY BEACH, Fla., July 17, 2014 (GLOBE NEWSWIRE) -- Mister Goody, Inc. (OTCQB:MSGO) announces that it has filed a Form 15 with the U.S. Securities and Exchange Commission (the "SEC") with the intention of voluntarily terminating the registration of its common shares under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company expects that its termination of registration will be accepted by the SEC. The Company's common shares will continue to be quoted on the OTC Pink Marketplace.
Mister Goody is current with all of its reporting requirements under the Exchange Act and is not listed on any U.S. major exchange. However, as a result of this filing, Mister Goody's reporting obligations with the SEC, including its obligations to file annual reports on 10-K, quarterly reports on Form 10-Q and reports on Form 8-K, will immediately be suspended.
In deciding to terminate the registration of its common shares under the Exchange Act, Mister Goody found that the preparation time and costs associated with preparing U.S. filings and meeting SEC regulatory requirements was substantial and the Company's board of directors believed that these administrative burdens and their associated costs outweighed the benefits derived from the Company's registration with the SEC.
About Mister Goody, Inc. (OTCQB:MSGO)
Mister Goody provides management consulting services to its partially owned subsidiary The Naked Edge, LLC. Naked Edge manufactures Veggie Go's, an organic fruit and vegetable snack. Mister Goody's services include consulting on matters relating to product development, packaging, sales, marketing, distribution and business management. Mister Goody owns 50% of the voting rights and 40% of the economic rights of Naked Edge. In addition, Mister Goody is entitled to consulting fees from Naked Edge after certain milestones are achieved.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the company's control.