FT. LAUDERDALE, Fla.,
Dec. 28, 2012 /PRNewswire/ -- Baron
Capital Enterprises, Inc. (OTCPK: BCAP)
(www.baroncapitalenterprise.com) would like to take this time to
update all of its shareholders prior to the year ending.
Baron had planned on filing its 3rd qtr report this
month followed up by the Attorney Letter to resume a "Current
Information" tier with OTC Markets, unfortunately we had some
unexpected issues delay its ability to make its intended
deadline. The Company's server is experiencing some technical
difficulties with its VPN and has been infected with a Worm.
The IT person is out of town for the holidays and cannot remote in
to fix the issue, because of these conditions the CPA cannot log in
to complete out report on time.
The report will be filed in a couple weeks followed by the
Attorney Letter which will allow the Company to resume its "Current
Information" status.
The data has not been affected as we have redundant backups of
the data, but will implement a safe guard system so this does not
affect the operations of the Company in future.
Another reason for the delay is the work load placed on one
person with everything the Company is working on, does not leave
any margin for error. The Company has a consultant beginning
in the New Year who will work under its new subsidiary and help
shift part of the work load from Baron including finishing the
acquisition of the transfer agent. The Company has lined up 3
new Directors and is in discussion with a seasoned Mergers and
Acquisition candidate to assume the roles of CEO and President of
the new subsidiary.
The company has reached an agreement to acquire 200,000 shares
of its Preferred Series AA for $10,600 of which $6,600 has been paid. The balance will be
paid in January at which point the Company will work to reduce the
outstanding number of Preferred Series AA to 240,000 with the goal
of eliminating the Series altogether by 2014.
The Audit is still underway. The inability to access
information when requested has slowed the process, but we are
confident the process will be completed during the first quarter
and the audit will now include 2012.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
Contact:
Matt Dwyer
matt@bcapent.com
954-623-3209
SOURCE Baron Capital Enterprises, Inc.