ASHLAND, KY - TX Holdings (OTCQB: TXHG) today announced that the filing of its Annual Report on Form 10-K for the year ended September 30, 2012, with the Securities and Exchange Commission will be delayed. As a result of the delay in the filing, the company expects an "E" suffix will be added to its trading symbol by the OTC Bulletin Board to change its trading symbol from TXHG to TXHGE.
The delay in the filing of the company's 2012 Form 10-K is due to the additional time required for the company's auditors to review prior period transactions related to a settlement of litigation among the company, Mark Neuhaus, the company's former Chairman and CEO, and certain other defendants, and following additional review of such transactions by management of the company.
About TX Holdings, Inc.
TX Holdings' objective and focus is to continue to expand its retail and wholesale mining equipment supply operations while exploring opportunities for its oil and gas field interests.
Forward Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this document and those made from time to time by TX Holdings through its senior management are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the company's current views with respect to the future events or financial performance discussed in this release, based on management's beliefs and assumptions and information currently available. When used, the words "believe", "anticipate", "estimate", "project", "should", "expect", "plan", "assume" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Forward-looking statements concerning future plans or results are necessarily only estimates and actual results could differ materially from expectations. Certain factors that could cause or contribute to such differences include, among other things, in particular our ability to implement our business strategy, estimated quantities of oil and natural gas reserves, technology developments, our financial strategy, oil and natural gas realized prices, the timing and amount of future production of oil and natural gas, the amount, nature and timing of capital expenditures, drilling of wells, competition and government regulations, marketing of oil and natural gas, exploitation or property acquisitions, costs of exploiting and developing our properties and conducting other operations, general economic and business conditions, cash flow and anticipated liquidity, uncertainty regarding our future operating results, SEC regulations related to trading in "penny stocks," and other risks, uncertainties and factors including those described from time to time in the company's filings with the Securities and Exchange Commission. Except as required by law, the company expressly disclaims any obligation to update any forward-looking statements. Notwithstanding the above, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1933, as amended, expressly state that the safe harbor for forward looking statements does not apply to companies that issue penny stocks. Because the company may from time to time be considered to be an issuer of penny stock, the safe harbor for forward looking statements may not be apply to it at certain times.
William "Buck" Shrewsbury
Chairman and CEO
TX Holdings, Inc.
SOURCE: TX Holdings, Inc.