POWELL, Tenn., April 27, 2004 (PRIMEZONE) -- Green Dolphin Systems Corp. (OTCBB:GDLS) announced today that it had received a request from the United States Securities and Exchange Commission ("SEC") to provide certain documents and information pertaining to recent press releases by the Company. The SEC has also suspended trading in the Company's common shares from 9:30 a.m. EDT, April 26, 2004 through 11:59 p.m. EDT on May 07, 2004, because of questions regarding the accuracy of assertions made in press releases and public statements.
The request for information primarily relates to the Company's relationship with a certain national chain, and seeks clarification and explanation of the Company's previous public disclosure. The Company is fully and expeditiously cooperating with the SEC, and is presently in the process of compiling and delivering the requested supporting information. The Company intends to provide a comprehensive information portfolio to the SEC detailing its business efforts in their area of interest. The Company welcomes the opportunity to answer any inquiries the staff of the Commission may have.
SAFE HARBOR
Statements contained in this news release regarding Green Dolphin's and other planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond the control of Green Dolphin's management, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Risk Factors" in Green Dolphin's Registration Statement on Form S-8 filed with the Securities and Exchange Commission on July 1, 2003 and the firms 10KSB/A filed with the SEC dated April 28, 2003. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above.