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| SRTI.PK > SEC Filings for SRTI.PK > Form 8-K on 11-Aug-2009 | All Recent SEC Filings |
11-Aug-2009
Regulation FD Disclosure, Financial Statements and Exhibits
The Company announced on August 6, 2009, that it has completed its review of strategic alternatives that began in March 2009. As a result, on August 7, 2009, the Company voluntarily deregistered its shares with the Securities and Exchange Commission ("SEC") in order to achieve savings in administrative and regulatory compliance costs. The Company will continue to trade on the Pink Sheets under its current ticker symbol, SRTI.PK, and will post regular quarterly and annual reports on the Pink Sheet website. The Company expects deregistration to be effective ninety days after the filing.
Another outcome of the Company's strategic alternatives review was the decision to move most of the Company's manufacturing operations from San Jose, California to its Taiwan facility. The move is expected to yield cost savings while reducing inventory. This transition is expected to be completed by the end of 2009.
On August 4, 2009, the Board also dissolved its Strategy Committee.
A copy of the press release issued by the Company with respect to these matters is attached as Exhibit 99.01 to this Current Report on Form 8-K.
(d) Exhibits.
Number Description
99.1 Press release dated August 6, 2009 announcing the Company's
appointment of industry veteran Bahaa Moukadam as CEO.
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