Nature's Sunshine Announces SEC Order Revoking Common Stock Registration
PROVO, Utah--(BUSINESS WIRE)-- Nature's Sunshine Products, Inc. ("Nature's Sunshine" or the "Company"), a leading manufacturer and marketer of encapsulated herbs and vitamins, today announced that on January 21, 2009, the Securities & Exchange Commission ("SEC") issued an order affirming a prior decision by an administrative law judge pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act") revoking the registration of all classes of the Company's securities registered pursuant to Section 12(g) of the Exchange Act. As a result of this order, broker-dealers are not permitted to effect transactions in the Company's securities until the Company has filed a registration statement on Form 10 pursuant to Section 12(g) of the Exchange Act and such registration statement has become effective. Although Nature's Sunshine intends to file a registration statement on Form 10 as quickly as practicable, the Company cannot currently predict a date for the filing of such registration statement.
The Company does not intend to alter its business operations as a result of the revocation order. The order was issued despite the Company's recent filing of current financial information and its extensive and continuing efforts to resolve its past delinquency in making its SEC filings and comply with the SEC's reporting requirements. On December 31, 2008, the Company filed with the SEC Forms 10-Q for the first, second and third quarters of 2008. As previously reported, on October 7, 2008, Nature's Sunshine filed its Forms 10-K for fiscal years 2006 and 2007. Simultaneously with the filing of the Forms 10-Q, Nature's Sunshine amended its previously filed Form 10-K for fiscal year 2007. The Company has engaged Deloitte & Touche LLP as its independent registered public accounting firm for the audit of its consolidated financial statements as of December 31, 2008.
About Nature's Sunshine Products
Nature's Sunshine Products manufactures and markets through direct sales encapsulated and tableted herbal products, high quality natural vitamins, and other complementary products. In addition to the United States, the Company has operations in Japan, Mexico, Central America, South Korea, Canada, Dominican Republic, Venezuela, Ecuador, Peru, the United Kingdom, Columbia, Brazil, Thailand, Israel, Singapore, Malaysia, Indonesia, The Philippines, Australia, Hong Kong, Taiwan and the Russian Federation. The Company also has exclusive distribution agreements with selected companies in Argentina, Australia, Chile, New Zealand and Norway.
Cautionary Statement Regarding Forward-Looking Statements
In addition to historical information, this release contains forward-looking statements. Nature's Sunshine may, from time to time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements encompass Nature's Sunshine's beliefs, expectations, hopes, or intentions regarding future events. Words such as "expects," "intends," "believes," "anticipates," "should," "likely," and similar expressions identify forward-looking statements. All forward-looking statements included in this release are made as of the date hereof and are based on information available to the Company as of such date. Nature's Sunshine assumes no obligation to update any forward-looking statement. Actual results will vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of reasons, including, among others: further reviews of the Company's financial statements by the Company and its Audit Committee; modification of the Company's accounting practices; the outcome of the various inquiries, requests for documents and proceedings by government agencies; foreign business risks; industry cyclicality; fluctuations in customer demand and order pattern; changes in pricing and general economic conditions; as well as other risks detailed in the Company's previous filings with the SEC.
Source: Nature's Sunshine Products, Inc.
Released January 21, 2009