iGO, Inc. Files Form 15 to Deregister Its Common Stock

  iGO, Inc. Files Form 15 to Deregister Its Common Stock

Business Wire

SCOTTSDALE, Ariz. -- December 18, 2013

iGO, Inc. (OTCQB:IGOI) (the “Company”) today announced that it filed a Form 15
with the Securities and Exchange Commission to voluntarily deregister its
common stock under Section 12(g) of the Securities Exchange Act of 1934, as
amended (the "Act"). The Company is eligible to deregister its common stock by
filing a Form 15 under Section 12(g) of the Act because the Company currently
has fewer than 300 holders of record of its securities. The Company expects
that its obligation to file periodic reports, such as Annual Reports on Form
10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, under
Section 13(a) of the Act will be suspended upon the filing of the Form 15. The
deregistration under Section 12(g) of the Act is expected to be effective 90
days after the filing of the Form 15 at which time the Company’s other filing
requirements under Section 13(a) of the Act will terminate.

Despite the filing of the Form 15, the Company’s obligation to file periodic
reports under Section 15(d) of the Act will continue through at least January
1, 2014, at which time such obligations, except with respect to the Company’s
2013 Form 10-K, will also be suspended if the Company has less than 300
holders of record. The Company may also seek no action relief from the SEC
requesting that the Company’s obligation to file its 2013 Form 10-K be
suspended.

The Company’s common stock is currently traded on the OTCQB, operated by OTC
Markets Group, a centralized electronic quotation service for over-the-counter
securities. The Company expects that its common stock will continue to be
quoted on the OTCQB until its periodic reporting obligations under Section
15(d) of the Act are suspended, at which time the Company anticipates its
common stock will be traded on OTC Pink Market, so long as market makers
demonstrate an interest in trading in the Company's common stock. However,
there is no assurance that trading in the Company's common stock will continue
on the OTC Pink Market or on any other securities exchange or quotation
medium.

The decision of the Company's Board of Directors to deregister its common
stock was based on the consideration of numerous factors, including the large
costs of preparing and filing periodic reports with the SEC, the increased
outside accounting, audit, legal and other costs and expenses associated with
being a public company, the burdens placed on Company management to comply
with reporting requirements, and the low trading volume in the Company's
common stock. After deregistration of the Company’s common stock is effective
and its periodic reporting requirements are suspended, the Company intends to
continue to provide interim unaudited financial information and annual audited
financial information to its stockholders.

About iGO, Inc.

iGO, Inc. offers a full line of innovative accessories for almost every mobile
electronic device on the market. Whether a consumer wants to power, protect,
listen to, share, cool, hold or connect to their device, iGO has the
accessories they need.

iGO’s products are available at www.igo.com as well as through leading
resellers and retailers. For additional information call 480-596-0061, or
visit www.igo.com.

iGO® is a registered trademark of iGO, Inc. All other trademarks or registered
trademarks are the property of their respective owners.

iGO, Inc. has adopted a Rights Agreement to deter acquisitions of 4.9% or more
of the Company's common stock (subject to certain exceptions) by any group or
person in order to protect the Company's ability to utilize its net loss
carryforwards to reduce potential future federal income tax obligations.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934. The words “believe,”
“expect,” “anticipate,” “should,” and other similar statements of our
expectation identify forward-looking statements. These forward-looking
statements are based largely on management’s expectations and involve known
and unknown risks, uncertainties and other factors, which may cause the
Company’s actual results, performance or achievements, or industry results, to
be materially different from any future results, performance or achievements
expressed or implied by these forward-looking statements. Risks that could
cause results to differ materially from those expressed in these
forward-looking statements include, among others, the risk that unforeseen
events occur and delay the preparation and filing of the Form 15 and that the
SEC does not accept or requires amendments to the Form 15 resulting in a delay
in the deregistration of the Company’s common shares, the continued interest
of market makers in trading the Company’s common stock and the Company’s
decision to deregister its common stock under the Securities Exchange Act of
1934, as amended. Additionally, other factors that could cause actual results
to differ materially from those set forth in, contemplated by, or underlying
these forward-looking statements are included in the Company’s Annual Report
on Form 10-K for the year ended December 31, 2012 under the heading “Risk
Factors.” In light of these risks and uncertainties, the forward-looking
statements contained in this press release may not prove to be accurate. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, or any facts, events, or circumstances after the
date hereof that may bear upon forward-looking statements. Additionally, the
Company does not undertake any responsibility to release publicly updates on
any occurrence of unanticipated events which may cause actual results to
differ from those expressed or implied by these forward-looking statements.

Contact:

iGO, Inc.
Terry R. Gibson, 408-399-6494
 
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