|
|
News Breaks | | | | November 18, 2011 | | 08:42 EDT |  | DXR | Daxor announces intention to register as investment company
Daxor made the following statement: In our press release of September 1, the company disclosed that on August 31, an Administrative Law Judge of the Securities and Exchange Commission issued an Initial Decision finding that Daxor is an investment company within the meaning of the Investment Company Act of 1940. The company presented over 500 exhibits during the Administrative Proceeding and management feels strongly that this extensive documentation of its history of operations demonstrated that it is primarily an operating medical instrumentation and biotechnology company and not primarily an investment company. It has always been the opinion of company management that Daxor is primarily an operating Medical Device and Cryobanking company and we do not agree with this decision. The company had the option of appealing this decision to the SEC and ultimately to a Federal Court or going private. However, in order to maintain focus on our ongoing medical research and development activities and avoid the additional legal fees that would be incurred if this decision was appealed, Daxor Management and the board have decided the company will not appeal this decision and will register as an Investment company in compliance with the Investment Company Act of 1940. We expect registering as an Investment Company will not have an impact on our operations or ongoing research and development efforts. | |
|
News For DXR From The Last 14 Days Check below for free stories on DXR the last two weeks. |
|
|
| There are no results for DXR |
|
|
|
|
|
|
