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FLAVORx CFO to Speak on Sarbanes-Oxley Section 404 at US House of Representatives Hearing

FLAVORx CFO to Speak on Sarbanes-Oxley Section 404 at US House of Representatives Hearing

by Rick Turoczy on May 2, 2006

FLAVORx Chief Financial Officer, Woodie Neiss, has been selected to speak on behalf of small businesses at an upcoming House of Representatives Hearing on the impact of Sarbanes-Oxley for smaller companies. As a private company with plans to someday go public, FLAVORx has consistently followed procedures, policies and systems to ensure that it conducts business properly and ethically. Unfortunately, for the small business, Sarbanes-Oxley could mean lengthy and costly reviews that could deter the company from going public.

This Wednesday, May 3rd, 2006, FLAVORx Chief Financial Officer, Woodie Neiss will speak on the impact of Sarbanes-Oxley on small businesses at the United States House of Representatives Committee on Small Business hearing. The full committee hearing entitled, “Sarbanes-Oxley Section 404: What is the Proper Balance between Investor Protection and Capital Formation for Smaller Public Companies?” will be held at 2:00pm at the Rayburn House Office Building in Washington DC. Neiss is slated to present to Chairman Donald Manzullo, Ranking Member Nydia Velazquez and other committee members on the tremendous cost of compliance to privately held businesses in relation to Section 404 of Sarbanes-Oxley. Having grown from one single innovative idea to a product and a business that has made its presence in over 37,000 pharmacies nationwide; FLAVORx is a company that has maintained high growth, positive net income, positive cash flow and a high-level of business ethics and procedure over its time. Surprisingly, as a result of the financial and procedural burden Sarbanes-Oxley legislation has placed on the company, it may no longer be in FLAVORx’s best interest or capabilities to enter the public market.

FLAVORx CFO to Speak on Sarbanes-Oxley Section 404 at US House of Representatives Hearing

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