Investors Research Institute, Inc.Announces 113 Public Companies Pledge 'Best Practices in Investor Relations',Higher Standards of 'Accessibility', 'Scrutiny', 'Disclosure'
January 25, 1999 12:02 PM
NEW YORK--(BUSINESS WIRE)--Jan. 25, 1999--Investors Research Institute, Inc., a non-profit organization of individual investors, announces that 113 public companies have now pledged to adhere to higher standards of "accessibility", "scrutiny" and "disclosure", acquiring the right to display the organization's "Seal of Best Practices in Investor Relations" --- including three companies listed on the American Stock Exchange, AutoBond Acceptance , Hi-Shear Tech and Osage Systems , 21 companies listed on the Nasdaq Exchange, Safety Components International ABAG , American Bio Medica ABMC , DualStar Technologies DSTR , E Net Inc. ETEL , Equitex EQTX , Hudson Technology HDSN , Hawaiian Natural Water HNWC , Imaginon IMON , New Frontier NOOF , Optical Cable OCCF , Objective Systems OSII , Perle Systems PERLF , Platinum Software PSQL , Elephant & Castle Group PUBSF , Repligen Corp RGEN , Synbiotics SBIO , Touchstone APPL TASA , Tech Data Corp. TECD , Trinity Biotech TRIBY , Westmark Group WGHI and ZMAX Corp. ZMAX , two companies listed on the Vancouver Exchange, ID Internet Direct (VSE/IDX) and Net Nanny (VSE/NNS), and 87 companies listed on the over the counter bulletin board, American Artists & Film AAFC , American Resources & Dev. ADCO , African Resources AFRI , ALYA International, Inc. ALYA , American Pacific Financial AMPA , Am-Pac Intl. AMPC , Auto Network ANWK , Asset Retrieval ARST , Avenue, Inc. AVEN , Allnet Services AWEB , Biologix Int. BGIX , Bio Preserve BIPN , Beverly Hills Country Club BLTD , Boatraks BTRK , Cdknet.com, Inc. CDKX , Celsion Corp CELN , Chartwell Int. CHAP , Chancellor Corp CHLR , Casino Journal CJPG , CorpHQ COHQ , Crys-Tel Telecom CYSS , Dead On, Inc. DEAD , Spa Faucet, Inc. DRIP , Eagle Capital ECIC , Earth Search Sciences EDIS , Eduverse Accel EDUV , Eagle Wireless EGLW , Egan Systems EGNS , HydroGrowth Systems ERBS , Fieldpoint Pete FPPC , Global Entertainment GAMM , Juina Mining GEMM , Global Media Corp. GLMC , Global Med Technologies GLOB , Generation Entertainment GNEN , Go Call, Inc. GOCA , Cadapult Graphic GRFX , BoysToys.com GRLZ , Hydro Grow, Inc. HGRW , International Barter IBCX , Immediate Entertainment IEGP , Imperial Ginseng IGPFF , IJNT Intl IJNT , Imagica Entertainment IMEA , IRI, Inc. IRIK , Kading Companies, S.A. KDNG , Kaleidoscope Media Group KMGG , Intermost Corp. IMOT , Lifeline Biotech LBTI , Leah Industries LEAH , Lucas Educational Systems LEDS , Linkon Corp. LKON , LifeOne, Inc. LONE , Mortgage Bankers Holding Company MBHC , Medix Resources MDIX , Worldwide Petromoly MOLY , Metal Recovery MRTI , Mactell Corp. MTLL , National Scientific NSCT , NuOncology Labs, Inc. NLAB , NetUSA, Inc. NTSA , Ora Electronics ORAE , ProTech Communications PCTU , Northport Industries PESO Planet City Software PINC , Plenum Communications PLNM , Prime Companies PRMG , Probity International PROB , Power Technology PWTC , Redneck Foods RDNK , Antra Holdings RECD , Remington-Hall Capital REMH , Rocky Mountain Ginseng RMGG , Centenary International RRRI , Systems Comm. SCMI , Sunbase Asia SNBS , Starnet Communications SNMM , Surgical Safety SURG , Syco Dist. OTCBB:(SYCD), IVP Tech Corp. TALL , Tao Partners, Inc. TAOL , The Football Network TFNK , Today.com TODY , Affinity Intl Travel TRIP , US Digital Communications USDI , Venturi Technologies VTIX and Welcome Search WKWG --- while four companies, American Eco ECGOF , National Healthcare Manufacturing NHMCF , Sportstar Marketing SSMK and US Bridge Construction USBR , no longer participate in the program.
Four of the participating companies, Spa Faucet, Inc. DRIP , National Scientific NSCT , Remington-Hall Capital REMH and IVP Technology Corp. TALL are on the association's "watchlist" pending the issuance of updated company information.
To meet the "accessibility" standards, companies agree to schedule at least one pre-announced conference call annually, equally accessible to individual investors, open all conference calls to include individual investors, minimally in "listen" mode, which can be achieved via a webcast. Also the companies agree to schedule at least one annual investor presentation which is open to individual investors, and which is webcast. Webcast calls and presentations must be accessible for a minimum of 90-days and include full text transcripts.
To meet the "disclosure" standards, companies have agreed to timely, equally accessible (to all classes of investors) issuance of corporate reports and press releases, a searchable corporate profile, and if not "fully reporting" under regulatory guidelines, to voluntarily "self-report" in a central registry which IRI is establishing at investrend.com, now under development. Companies also agree to immediate disclosure of any change in distributed shares, dilutive events and insider buying or selling, and to provide archivals of up to three years of press releases so that investors may more easily determine the efficiency with which participating companies have met their announced corporate objectives.
To meet the standards for "scrutiny", the companies have agreed to position their companies for professional analyst coverage, or to enroll in the unique Public Analysis & Review (PAR) program, which assigns an independent analyst to regularly follow and report on companies with little or no coverage. The Institute's programs are separately administered by IRI, Inc. IRIK , itself a public company in registration.
Individual investors may refer any public company to "take the pledge" at the organization's website at investorsresearch.org, or to write theseal@usa.net for full details. IRI also administers the Public Analysis & Review (PAR) program which assigns independent wirehouse-quality professional analysts to provide continuing coverage of companies which have no analyst coverage. Anyone may enroll a public company in the PAR program, which currently includes 14 public companies and 12 qualified analysts, by inquiring at parprogram@usa.net .
Dave D |
