Decorize prepares to leave AMEX

Decorize shares will be traded on the Nasdaq Over the Counter Bulletin Board beginning later this year.

Steve Crowder, CEO of the six-year-old company, said the decision was based on the cost of being listed – about $350,000 a year in extra fees.

“You have to ask, ‘Is that a good return to our shareholders at this point?’ The board said no,” Crowder said.

Crowder added that there are still fees involved in being an Over the Counter company, but the amount is significantly less.

He added that the change in listing does not signify a change in the way the company handles its financial business.

“It’s not that if you’re not public, you’re not ethical,” Crowder said. “It’s just that you don’t have to hire all of these people to tell you you’re ethical and that you’re doing everything legally.”

Decorize shares (AMEX: DCZ) closed Tuesday at 31 cents, compared to a 52-week range of 17 cents to 81 cents.

See SBJ’s Sept. 25 issue for more on changes at Decorize.