HAUPPAUGE, N.Y., October 17 /CNW/ - Interpharm Holdings, Inc. (Amex:
IPA)("Holdings"), a manufacturer and distributor of generic pharmaceutical
products, announced today that due to a delay in filing its Form 10-K, it
received a notice from the American Stock Exchange Continued Listing
Department that it is out of compliance with exchange rules.
In its Current Report on Form 8-K and Form 8-K/A filed with the SEC on
October 12 and 15, 2007, respectively, Interpharm Holdings, Inc. ("Holdings")
disclosed that as a result of negotiations with Wells Fargo Bank, National
Association, acting through its Wells Fargo Business Credit operating division
("Wells Fargo"), Holdings would not be able to file its Form 10-K by its due
date of October 15, 2007 and anticipates filing upon the conclusion of
negotiations with Wells Fargo. Holdings further disclosed that on October 12,
2007, Holdings notified the American Stock Exchange ("AMEX") that it would not
file its Form 10-K in a timely manner.
On October 15, 2007, Holdings received notice from the AMEX that trading
in its common stock would be halted pending compliance with AMEX rules through
the filing of financial information.
On October 16, 2007, Holdings received a notice from the AMEX Listing
Qualification Department that it must file its Annual Report on Form 10-K as
required by Sections 134 and 1101 of the AMEX Company Guide in order to
maintain its AMEX listing. As previously disclosed, Holdings plans to file its
Annual Report on Form 10-K at the conclusion of its negotiations with Wells
About Interpharm Holdings, Inc.
Interpharm currently develops, manufactures and distributes generic
prescription strength and over-the-counter pharmaceutical products. Interpharm
will continue to focus on growing organically through internal product
development and leveraging its strength in efficient and cost effective
manufacturing. In addition, Interpharm will also continue to seek consummation
of mutually beneficial strategic alliances and collaborations.
Statements made in this news release, contain forward-looking statements
concerning Interpharm's business and products involving risks and
uncertainties that could cause actual results to differ materially from those
reflected in the forward-looking statements. The actual results may differ
materially depending on a number of risk factors including, but not limited
to, the following: general economic and business conditions, development,
shipment, market acceptance, and additional competition from existing and new
competitors, changes in technology, and various other factors beyond
Interpharm's control. Other risks inherent in Interpharm's business are set
forth in its filings with the SEC, including, but not limited to, its Form
10-K, filed on September 28, 2006, its Form 10-Q filed on February 14, 2007
and Form 10-Q filed on May 15, 2007.
All information in this release is as of October 17, 2007. Interpharm
undertakes no duty to update any forward-looking statements to conform the
release to actual results or changes in its circumstances or expectations
after the date of this release.
For further information:
For further information: G.S. Schwartz & Co. Media: Karen Pineman,
212-725-4500 ext. 311 firstname.lastname@example.org or Investor Relations: Carl
Hymans, 212-725-4500 ext. 304 email@example.com