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New Horizons Worldwide, Inc. Announces Its Intention to Terminate Financial Reporting on the Pink Sheets

^{Published on 2010-05-12 15:55:13 - Market Wire}
 

CONSHOHOCKEN, Pa.--([ BUSINESS WIRE ])--New Horizon Worldwide, Inc. (Pink Sheets: NWRZ) announced its intention to voluntarily discontinue the filing of annual and quarterly financial reports on the Pink Sheets.

"In the long term, we believe that our stockholders will benefit from our decision to dedicate managementa™s time and corporate funds to the growth of our company instead of to public reporting."

The Companya™s Board of Directors decided to discontinue filing financial statements on the Pink Sheets website in order to reduce the administrative burdens and costs associated with being a public reporting company.

The Companya™s common stock will continue to trade on the Pink Sheets, but will move from the Pink Sheets aCurrent Informationa OTC Market Tier to the Pink Sheets aNo Informationa OTC Market Tier. Mr. Mark Miller, Chief Executive Officer of the Company, stated, aIn the long term, we believe that our stockholders will benefit from our decision to dedicate managementa™s time and corporate funds to the growth of our company instead of to public reporting.a

About New Horizons Computer Learning Centers

With over 300 centers in 70 countries, U.S.-based New Horizons Worldwide, Inc. (Pink Sheets: NWRZ) is the worlda™s largest information technology training company. Through an integrated learning approach that ensures that new knowledge can be applied to real-life situations, New Horizons delivers a full range of technology and business skills training from basic application and desktop productivity tools to complex and integrated business systems. New Horizons continues to expand its offerings, locations, and solutions to meet the growing demands placed on organizations and their employees. For more information, visit our global website at [ www.newhorizons.com ].

Certain matters discussed in this press release are 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, and as such involve risks and uncertainties. Any statements about expectations, beliefs, plans, objectives, assumptions, future events or performance are not historical facts and are forward-looking statements. The forward-looking statements in this press release are based upon beliefs, assumptions and expectations of the Company's management as to the Company's future operations and economic performance, taking into account the information currently available. These statements are not statements of historical fact, and the Company's actual results may differ significantly from the results discussed in the forward-looking statements. Readers should not place undue reliance on these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company or the benefits of the proposed transaction to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Many of the factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission and Pink Sheets.