Baron Capital Issues Update: Series AA Preferred Reduced To 643,500
Shares Outstanding
FT. LAUDERDALE, Fla.,
Oct. 23, 2012 /PRNewswire/
-- Baron Capital Enterprises, Inc. (OTCPK: BCAP)
(www.baroncapitalenterprise.com) is pleased to announce the Company
has sold all of its shares in RightSmile, Inc. (OTCPK: RIGH) and
has no other debt available to convert. The Company will use
the funds to offset costs associated with the Audit and S-1 filing
that the Company is preparing to file and fund operations through
the year end.
The Company has reached an Agreement with RIGH to extend a
$200,000 Note that was due on
October 18th until
January 18th, 2013 to
allow them to secure financing. As part of the deal, Baron
has offered a 25% discount to the principal amount if a cash
payment was made.
The Audit for the Company is moving forward without any issues.
The Company is preparing "Confirmation Letters" for all
Attorneys used by the Company, for all bank accounts, for all debt
holders of Baron in previous years, and for all Convertible and
demand loans Baron has for other Companies. This is standard
practice to verify with third parties the information Baron is
stating is true and accurate.
The Company is pleased to announce the reduction in its Series
AA Preferred shares to 643,500 shares outstanding at this
time. The Series AA where created for use in voting and never
intended to be used as a tool to convert into large amount of
Common shares. The Company will work to eliminate more of the
Preferred prior to the S-1 filing.
During the month of October the Company will be updating
shareholders on the following items:
- Transfer Agent Acquisition
- Audit for the Subsidiary
- write off of accumulated salary.
More updates on the Company to follow over 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.
Contact:
Matt Dwye
matt@bcapent.com
954-623-3209
SOURCE Baron Capital Enterprises, Inc.