EdgeWave, Inc. Announces Deregistration of Its Common Stock

Fri Oct 5, 2012 7:13pm EDT

* Reuters is not responsible for the content in this press release.

  SAN DIEGO, CA, Oct 05 (Marketwire) -- 
EdgeWave, Inc. (PINKSHEETS: EWVE), a leading provider in Secure Content
Management solutions, announced today that it has filed a Form 15 with
the Securities and Exchange Commission ("SEC") to voluntarily deregister
its common stock and suspend its reporting obligations with the SEC. The
Form 15, filed on September 5, 2012, will be the Company's last filing
with the SEC except for the Form 10-K and accompanying audited financial
statements for the eight month transition periods ended August 31, 2012
and 2011, which is expected to be filed in November 2012. The Form 15 is
expected to become effective no later than 90 days after filing. 

    The Board of Directors considered many factors in making the decision to
deregister the Company's common stock, including the cost associated with
the Company's ongoing SEC reporting obligations and the demands on
management required to prepare and file the reports. 

    Lou Ryan, CEO of EdgeWave, Inc., said, "Our directors voted for the
voluntary deregistration of our common stock after carefully considering
the advantages and disadvantages of continuing registration. The costs
and administrative burdens associated with being a public company, as
well as the substantial demands on management time and resources outweigh
the benefits we receive from maintaining our registered status. Although
the cost savings associated with this decision provide EdgeWave the
opportunity to invest more deeply in our business execution strategy,
there are larger benefits to the company, such as allowing management to
focus more of its time and resources on building long-term value," added
Mr. Ryan. 

    About EdgeWave, Inc.(TM)

    EdgeWave, Inc. develops and markets on demand, on-premises, and hybrid
Secure Content Management (SCM) solutions to the mid-enterprise and
service provider markets. The EdgeWave portfolio of web, email and data
protection technologies delivers comprehensive secure content management
with unrivalled ease of deployment and low Total Cost of Ownership (TCO).
EdgeWave products and services include comprehensive Web Gateway Security
with iPrism Web Security, iPrism Social Media Security, and iPrism
cloud-based Remote Filtering solution and the ePrism Messaging Security
Suite, a fully-hosted solutions for Email Filtering, Email Data Loss
Protection, Email Encryption, Email Continuity, which can be accessed
from a single user interface and Email Archive. With thousands of
customers and over 200 partners worldwide, EdgeWave strives to deliver
simple, high performance solutions that offer excellent value.

    Based in San Diego, California, EdgeWave markets its solutions through a
network of value added resellers, ISPs and MSPs, distributors, system
integrators, OEM partners and directly to end users. For more information
about EdgeWave, visit www.edgewave.com.

    Copyright2012 EdgeWave, Inc. All rights reserved. The EdgeWave, iPrism,
and ePrism Logos are trademarks of EdgeWave, Inc. All other trademarks
and registered trademarks are hereby acknowledged.

    

Contact:

Paula Wheeldon
Sr. Marketing Communications Manager
858-524-2004 
pwheeldon@edgewave.com 

Copyright 2012, Marketwire, All rights reserved.

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