MORRISTOWN, N.J., June 19 /PRNewswire-FirstCall/ -- Boomerang Systems,
Inc., ("Boomerang" or the "Company") (Pink Sheets: BMER) announced today
that the Company's shares are currently trading in the over-the counter
market on the OTC Pink Sheets. Boomerang encountered certain technical
compliance issues with respect to the timeliness in three instances over
the prior two years in its SEC filings, which resulted in the Company's
stock moving from the OTC-Bulletin Board and onto the OTC Pink Sheets.
Quotations are currently appearing at www.pinksheets.com under the trading
symbol BMER by clicking on Quotes and News.
Boomerang is engaged in the design, development, and initial marketing
of automated racking and retrieval systems for automobile parking and
automated racking and retrieval of containerized self-storage units.
Boomerang's management is optimistic as to its future operations and its
ability to secure firm contracts for the sale of its storage units. The
Company reported its initial completed sale in the second fiscal quarter of
2008 and anticipates reporting additional sales during the balance of the
fiscal year ending September 30, 2008. The Company is committed to the
timely filing in the future of all periodic reports as required by the
Securities and Exchange Commission and for the protection of its investors.
Additional information may be obtained by contacting Joseph Bellantoni,
Boomerang's Chief Financial Officer, at 973-538-1194.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of
the Private Securities Litigation Reform Act of 1995.
With the exception of historical matters, the matters discussed in this
press release are "forward-looking statements" as defined under the
Securities Exchange Act of 1934, as amended, that involve risks and
uncertainties. Forward looking statements included herein include the
Company's ability to make additional sales of its automated parking systems
and self storage units during the fiscal year ending September 30, 2008 and
thereafter, its ability to timely file all periodic reports and other
filings with the Securities and Exchange Commission and its ability to
attain its business objectives and business plan. Forward-looking
statements also include, among others, the success of the Company in
implementing the its business plan in the future and that the Company will
achieve material revenues. Boomerang intends that the forward-looking
statements herein be covered by the safe-harbor provisions for
forward-looking statements contained in the Securities Exchange Act of
1934, as amended, and this statement is included for the purpose of
complying with those safe-harbor provisions.
SOURCE Boomerang Systems, Inc.