HUNTINGDON VALLEY, Pa., June 11, 2013 (GLOBE NEWSWIRE) -- Wireless Xcessories Group, Inc., (WIRX), a national manufacturer and distributor of wireless accessories, intends to file a form 10 with the SEC to become a fully reporting company under the Securities Exchange Act of 1934.
WIRX has approximately 4,000,000 shares issued and outstanding; these shares are anticipated to be re-listed in the near future. There is no current plan to create additional shares and insiders are not selling any of their ownership position in conjunction with the Form 10.
Steve Rade, CEO of Wireless Xcessories Group, stated, "Our 2012 sales grew by 80% to over $40 million, from those of 2011, and we have retained Alliance Advisors as our investor relations counsel. With their assistance, we will strive to become listed on the NYSE Marketplace or NASDAQ when we have met their criteria. Since 2008, we have regularly produced audited financials and going forward, we will be filing publicly accessible documents every quarter as we work toward creating greater value for our loyal shareholder base."
The company's shares formerly traded on the American Stock Exchange and voluntarily delisted in 2008 in order to reduce Sarbanes Oxley compliance costs. Since the delisting, the company's shares have been traded on the Pink Sheets.
Under applicable rules, the SEC has 60 days to comment on the Form 10 filing and the two (2) calendar years (2011/2012) of financial data provided by our auditors, BDO USA, the company's independent registered public accounting firm.
About Wireless Xcessories Group
Wireless Xcessories Group, Inc. designs, manufactures and distributes accessories for cellular phones. The company offers in excess of 3,500 items that include batteries, hands free devices, car and travel chargers, as well as a variety carrying solutions. The Company sells to dealers and distributors through an in-house sales force and directly from its website, http://wirexgroup.com