Further Clarification From Neah Power Systems, Inc. Regarding Filing of Form 15 to Voluntarily Suspend Its SEC Reporting Obligations

EDMONDS, Washington, May 17, 2017 /PRNewswire/ --

Neah Power Systems, Inc. (OTC: NPWZ) ("NEAH" or the "Company") announced on May 15 2017 that it was filing Form 15. This announcement is further clarification to that press release only, and does not purport to update on any other matters related to the Company. As a result of the May 15 2017 filing, the Company's obligations to file certain reports with the SEC, including annual, quarterly and current reports on Form 10-K, Form 10-Q and Form 8-K, respectively, was immediately suspended.

As previously noted, the Board of Directors determined that it was in the best interests of the Company and its shareholders to cease being an SEC reporting company. Shareholders maintain their share ownership and retain their rights as shareholders. If shareholders have any questions about their free-trading shares they should consult with their brokers. The Company shall devote its resources to its core business, escape the "penny-stock" oppressive share price of the OTCBB capitalization and build real value.

As part of the effort to focus on the core business, the Company will also minimize and shortly cease its social media presence as well as take down the Company website http://www.neahpower.com.

As previously communicated, as a result of the filing of the Form 15, there can be no assurances that any trading market for the Company's common stock will develop or be maintained after the Form 15 filing.

Safe Harbor Statement:

Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements," which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, and the Company does not undertake any responsibility to update any of these statements in the future. Please read Neah Power System's Form 10-K for the fiscal year ended September 30, 2015 and its Quarterly Reports on Form 10-Q filed with the SEC during fiscal 2015 for a discussion of such risks, uncertainties and other factors.    

Contact:

Phone: +1-(425)-424-3324
Email: info@neahpower.com
Website: http://www.neahpower.com

SOURCE Neah Power Systems, Inc.