SAN JOSE, Calif., July 13, 2010 (GLOBE NEWSWIRE) -- Zippi Networks, Inc. (Pink Sheets:ZIPZ), an Applications company focused on delivering entertainment, gaming, and social networking Apps for today's mobile lifestyle, today announced that the company has retained Mr. David Kahn for the specific function of reviewing Zippi's updated information statement. Mr. Kahn is a securities attorney located in California and has specific knowledge and experience in dealing with Pink Sheets companies that wish to achieve "Current Status" with www.pinksheets.com.
Zippi has long resided on the Pink Sheets with no better than a "Yield" status, which means limited information. As the company re-positioned its business in the mobile application marketplace, and since has been announcing its progress on several iPhone based mobile apps, the decision to attempt a "Current Status" with pinksheets.com has been made by management. Following an acceptance of its information statement in review, the company will be required to post subsequent Quarterly Reports pursuant to Section Two and Annual Reports pursuant to Section One, of the Guidelines for Providing Adequate Current Information (PDF), as well as posting an Attorney Letter for each such period.
Additional requirements include, the Verification that the company has posted the required Quarterly Reports within 45 days following each quarter end and Annual Reports within 90 days following each fiscal year end.
Robert A. Rositano Jr., CEO of Zippi Networks, Inc., stated, "Achieving current information status has always been a goal of the company, and it is time that we make this a reality. Current and future investors will have easy access to updated information with a current status reflected at pinksheets.com, and we are hopeful that these moves will be one of many positive developments as Zippi continues to make great strides in executing on its mobile applications business model."
About Zippi Networks, Inc.:
Zippi is an Applications company delivering consumers entertainment, gaming, and social networking Apps for today's Mobile lifestyle.
Safe Harbor:
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors including the ability of the company to successfully commercialize its new technologies and service offerings. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Zippi is a trademark of Zippi Networks, Inc. All other trademarks or registered trademarks are the property of their respective owners.