Thresher Industries, Inc. (PINKSHEETS: THRI) announced today that it has retained the law firm Ellenoff Grossman & Schole, LLP of New York to assist in the process of becoming a fully-reporting company under U.S. Securities and Exchange Commission (SEC) regulations, in preparation for listing its shares on the OTC Bulletin Board (OTCBB). Thresher Industries, Inc. is currently a non-reporting company trading on the over-the-counter (OTC) Pink Sheets. Roger Rowell, CFO of Thresher Industries, said, "We are pleased with the results from the work Ellenoff Grossman & Schole has provided for us, from the successful filing of the form 211 with the NASD to their assistance with the Purchase and Sale contract for the purchase of Talon Composites which we believe to be almost complete."
The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange.
The board of directors of Thresher Industries believes that having almost completed the acquisition of Talon Composites and having received several purchase orders for its proprietary MMC, and anticipates the release of significant licensing agreements that is in line with its strategic business plan. As a result, Thresher is now in position to become a fully-reporting company. Rowell added, "Thresher believes that the listing of its shares on the OTCBB will enhance investor confidence and interest, reduce the cost of capital, and assist in making our stock attractive to institutional investors."
"As a first step, we have already begun an audit of our company's financial results and anticipate an audit of Talon Composites operations as well," continued Rowell. "Then we will with file with the SEC and anticipate transitioning to fully-reporting status and application to the OTCBB early next year."
About Thresher Industries
Thresher Industries provides conventional cast aluminum as well as reinforced metal matrix composite aluminum alloy components for a variety of customers and applications. Thresher's ThermaLite and TerraLite alloys offer unique properties compared to conventional aluminum alloys such as increased wear resistance, unique thermal properties and greatly increased strength. Thresher also offers proprietary casting technologies including its Nautilus Core Technology, a bio-degradable recyclable process that is used to generate internal shapes and passages in castings without sand or binders normally used in casting operations.
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," "continue," "estimate," "project," "intend," 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 technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
Thresher Industries, Inc.
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