SAN JOSE, Calif., March 30, 2012 /PRNewswire/ -- Human Pheromone Sciences, Inc. (EROX) ("HPS" or "the Company") filed a Form 15 with the SEC. The Company filed a Form 15 with the SEC in order to effect a termination of registration of its common stock under the Securities Exchange Act of 1934. Upon this voluntary filing the Company is no longer required to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K. The Company expects that its common stock will continue to be traded in the Pink Sheets under the symbol, EROX.
"The Company and its Board of Directors determined that this course of action would allow the Company to use its financial and management resources on operations rather than on regulatory compliance in a capital market which the Company is unable to benefit from until its financial position improves. The Company will continue to license and supply new and existing customers with its three unique compounds currently available and focus energies on identifying research and development partners for additional compounds that have been identified," a spokesperson indicated.
The Company is also announcing its unaudited results for the three months and the year ended December 31, 2011. For the three months ended December 31, 2011, net revenue was $146,000, representing a 35% decrease from revenues of $225,000 in the prior year period, and resulted in net income of $12,000 ($0.00 per share) as compared with net income of $118,000 ($0.03 per share) for the three months ended December 31, 2010, a $106,000 decrease. For the year ending December 31, 2011, net revenues of $569,000, were 29% less than revenues of $806,000 generated in the year ended December 31, 2010. The net loss in the current year of $44,000 ($0.01 per share) was $53,000, or 55%, reduction from the $97,000 loss ($0.02 per share) recorded for the year ended December 31, 2010.
Revenues in 2011 wer
|SOURCE Human Pheromone Sciences, Inc.|
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