FT. LAUDERDALE, Fla., June 29, 2012 -- Baron Capital Enterprises, Inc. (OTCPK: BCAP) (www.baroncapitalenterprise.com) would like to take this time and update shareholders on the progress of specific events the Company is working on.
The Company's audit is moving along with the goal of delivering 2007 through 2011 to the auditors within the next few weeks for their review. Once the auditors have completed their review of years 2007 through 2010 the Company will begin working with its counsel on the S1 filing.
The Company has selected a building in downtown Fort Lauderdale for its new headquarters and is working with the architects to finish the design layout so the Company can occupy the space by August of 2012.
The Company is seeking a legal opinion which will allow it to write-off a large portion of the debt on its books from prior management adding to the previous announced write down for the quarter.
The Company has been advised by counsel to change its state of incorporation from Florida to Delaware. The advice was due to the nature of business the Company is entering and the protections offered by the state of Delaware.
More updates to follow in the coming weeks.
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.
MATT DWYER, PRESIDENT
SOURCE Baron Capital Enterprises, Inc.