FT. LAUDERDALE, Fla., Feb. 6, 2006 (PRIMEZONE) -- Wallstreet-Review Financial Services, Inc. (Pink Sheets:WSRV) today announced that it is working on answering the last comment it received from the NASD regarding the 15c-211 filed in June of 2005.
WSRV had filed its 15c-211 at the end of June in 2005. In July, the company received its first set of 20 comments. After submitting responses for the first set of comments, the company received its second set of 5 comments. WSRV received its last comment in early November. The last comment seeks an answer from Market Regulation as to whether the company needs to be registered as a Broker Dealer. Counsel for WSRV has contacted Market Regulation regarding this matter and after several discussions a No Action letter was submitted on January 6, 2006. Once a response to the No Action is received, which the company believes will be favorable; it shall then be forwarded to NASD which should pave the way for approval of the 15c-211.
About Wallstreet-Review:
Wallstreet-Review Financial Services, Inc. ("WSRV") was established in 1999 to assist private and public small cap companies looking to raise money or to go public. WSRV is helping fill a void for these companies often over looked because they are usually in their infancy stage. WSRV is able to help put together a package that can be presented to companies that make investments in both private and public small cap companies.
Wallstreet-Review Financial Services is not a licensed broker dealer and does not collect commissions for transaction, or perform functions that may only be performed by a licensed broker dealer such as act as underwriter, participate in negotiations between the investor and the issuer, or make buy/sell recommendations and provide investment details. WSRV obtains its clients through its website www.wallstreet-review.com and through networking. WSRV has been publishing third party press releases for companies through its wholly owned subsidiary 247 Media Holdings, LLC and its website www.247newswire.com for the past year. Through the same company, WSRV is also a registered filer with Edgar that enables WSRV to file third party financial reports for public companies.
Certain information contained in this news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While these statements are made to convey the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Actual company results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect the business prospects of the company and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission.