Curt Glowacki, the Company’s CEO, stated, “We’re taking this important step with our shareholders’ interests in mind. The burden of reporting under the Exchange Act, and in recent years the added burden of numerous Sarbanes-Oxley requirements, has become too expensive for many small companies such as Mexican Restaurants. After careful consideration, the Company believes that by having our stock listed on the over-the-counter market and deregistering our common stock, we can re-invest significant resources to help drive growth and profitability. We believe that by utilizing the over-the-counter market platform, material savings can be achieved while still providing reliable information to our shareholders.”Mexican Restaurants, Inc. operates and franchises 72 Mexican restaurants. The current system includes 55 Company-operated restaurants, 16 franchisee operated restaurants and one licensed restaurant.
Mexican Restaurants, Inc. Announces Delisting On NASDAQ; Plans To Deregister Common Stock With SEC (NASDAQ: CASA)
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