Earlier this month, Simulated Environment Concepts, makers of the SpaCapsule personal massage and relaxation environment, released a letter to shareholders from Dr. Ella Frenkel, company Chairwoman, CEO, and co-founder. The letter was the first in a series expected from the company in an effort to enhance transparency and give current and potential investors the information they need. The goal is to keep all interested parties informed regarding progress, challenges, accomplishments, and future initiatives.
Dr. Frenkel went on to summarize their recent successful efforts in obtaining “Current Information” (CI) status on the Pink OTC Markets (www.PinkSheets.com), as they look forward toward soon becoming a fully reporting company. Being a company listed as “not reporting” carries negative connotations, now removed with the company’s new status. Below is the timeline being used in the ongoing status upgrade and maintenance process:
• July 13, 2010 – The company filed a Q1 Disclosure Statement with Pink Sheets, bringing the company to Current Information status.
• September 13, 2010 – The company filed a Q2 Disclosure Statement, maintaining CI status.
• November 15, 2010 – The company will file a Q3 Disclosure Statement, continuing maintenance of CI status.
• The Q4 Disclosure Statement will be filed some time ahead of the required schedule, in preparation for the SEC filing steps required for fully reporting companies.
• Year 2011 – The company intends to become fully reporting, trading on a higher exchange.
The shareholder letter made it clear that SE Concepts is being careful not to rush into fully reporting status without having all of the reporting structures properly in place to meet the demands associated with a higher exchange.
In closing, Dr. Frenkel pointed out that the company has had dramatic international success introducing their products, and intends to become a leading worldwide producer of innovative wellness and related systems.
For more information, visit www.spacapsule.com and the corporate website at www.seccorporation.com.
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