DCH Technology, DCHT to become reporting;
Financial Audit Completed; Form 10 to be Submitted
The first step toward becoming a reporting company with the SEC
was
completed this month by DCH Technology. The 1997 financial
statement audit
was completed by the accounting firm Lucas, Horsfall, Murphy and
Pindroh in
Pasadena, California. After the third quarter (September 30)
financial
statements become available, the Form 10 documents will be
submitted to the
SEC by DCH's legal counsel, Foley & Lardner, to the SEC.
The Securities and Exchange Act requires a public company to file
certain
periodic reports, unless the company does not meet certain size
requirements. In these cases, the reporting obligation is suspended.
DCH decided to voluntarily become a "reporting" company, at its
own expense,
even though it is under no legal obligation to do so. The company
has chosen
this route so that its current and potential shareholders will be able
to
obtain reports from the SEC on the company's operations, its
financial
condition, its competitive position, its officers, directors and
certain
major shareholders.
In addition to providing a measure of information to its
shareholders, this
will also allow several brokerage firms to buy and sell DCH stock
(many
firms have internal policies which do not allow trading of
non-reporting
companies).
DCH to be Listed in S&P's Corporation Records
Since 1917, Standard & Poor's has published Corporation
Records. This
document is a resource used by investors and brokers alike to
obtain
specific information about public companies, including
subsidiaries,
property information, backlog, principal business, capitalization,
stock
data, earnings and financial data. Including print subscriptions and
electronic distribution, the circulation of Corporation Records is
over
1,110,000 (including brokers, corporations and libraries).
DCH Technology filed with Standard & Poor's Corporation
Records. The company
will be listed, along with the data listed above, as soon as S&P
has
verified the accuracy of DCH's submissions to the publication. The
data
listed in the publication will also be posted in S&P's website.
In addition, DCH will be displayed in S&P's Stock Guide
Database (electronic
database on over 9,000 companies, with over 47 data items on
each stock
listed) and Marketscope (an online, real-time filtered news and
advisory
service, providing financial statistics and text on over 8,600
companies).
DCH will notify shareholders when the listing is completed. |
