Juhl Energy Files to Deregister its Common Stock and Suspend Reporting Oblications

Juhl Energy Inc. (OTCQB: JUHL), a provider of clean energy solutions, announced that it has filed a Form 15 with the United States Securities and Exchange Commission to voluntarily deregister its common stock and suspend its reporting obligations under the Securities Exchange Act.
According to the press release:

The Company cited the significant cost, limited benefit and very limited trading of its stock as some of its reasons in taking this step. As a result of the filing of Form 15 with the Commission, the Company will no longer be required to file certain reports under the Exchange Act, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K. Other filing requirements will terminate upon the effectiveness of the deregistration, which is expected to occur 90 days after the filing of the Form 15 with the Commission. The Company expects and will allow its common stock to cease trading on the OTCQB. It is possible that other trading avenues, such as the OTC Pink Marketplace may be available for parties interested in trading the Company’s stock. There can be no assurance, however, that any broker-dealer will make or continue to make a market in the Company’s common stock, which would be required for trading on the Pink Sheets.
Despite electing to suspend its reporting obligations, the Company plans to voluntarily file a Form 8-K with the Commission, following the close of its current fiscal quarter, to include certain financial information for the quarter ended September 30, 2015.
The independent members of Juhl Energy’s Board of Directors voted unanimously to file Form 15 after deliberation and consideration of the advantages and disadvantages of being an SEC reporting company. The Company’s Board of Directors considered many elements in reaching their decision, including: the substantial costs, both direct and indirect, associated with the preparation and filing of periodic reports with the SEC, the current level of analysts coverage, the minimal liquidity for the Company’s common stock, the additional outside legal and accounting resources required, the amount of time management spends on reporting documents, the uncertainty across the broader public market for public stocks, as well as the nature and extent of the trading of the Company’s common stock.
“In addition to the high cost of being public in what we feel is a low liquidity environment, we have determined that the market is extremely difficult for micro-caps, and at best, very inefficient,” stated John Mitola, President of Juhl Energy, Inc. “The large swings that have occurred in the market over the past two months based on ‘news of the day’ versus investment fundamentals have affected the large cap market as well. In lieu of all this, management feels that by stepping out of this world, our team will be free to focus solely on our ongoing growth and building the long-term value of our Company.

Click here to read the full press release.