RICHMOND HILL, Ontario, Aug. 15, 2011 (GLOBE NEWSWIRE) — Polar Wireless Corp. (OTCBB:BCDI) announced today the filing of Form 15 with the U.S. Securities and Exchange Commission. On August 15, 2011, the company filed the Form 15 to provide notice of a suspension of the duty to file reports under Section 12(h) of the Securities Exchange Act of 1934. Upon filing Form 15, Polar Wireless’ obligation to file periodic and other reports with the SEC, including forms 10-K, 10-Q, and 8-K are immediately suspended.
Polar Wireless is taking this action based on the following considerations:
Overall demands placed on management to comply with SEC reporting obligations, taking valuable time from managing essential aspects of the business
Costs tied to the preparation, review, editing and submission of periodic and other reports required by the SEC
The company’s shares will still be available for trading on the Over-The-Counter Pink Sheets.
About Polar Wireless Corp:
Polar Wireless offers the first Worldwide SIM Card that combines with a subscribers home SIM to provide the lowest rates on Voice, SMS and data services when roaming. Polar Wireless aspires to build the largest proprietary Worldwide Mobile Virtual Network that automatically reroutes customers’ calls through inexpensive telecommunications channels when they are roaming.�The Polar SIMs transformative technology is the FIRST to allow a subscriber to keep their existing mobile phone and phone number while taking advantage of discounted roaming rates.
CONTACT: George Perlin
President and Chief Executive Officer
(905) 881-8444
http://bit.ly/ojY8ea
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