FT. LAUDERDALE, Fla.,
Nov. 15, 2012 /PRNewswire/ -- Baron
Capital Enterprises, Inc. (OTCPK: BCAP)
(www.baroncapitalenterprise.com) is pleased to announce the Company
has executed two separate consulting agreements in excess of
$350,000.
Baron had been working on these agreements since the first week
of October and finally closed the deals this week. The
execution of these agreements was priority number one for the
Company to be able to continue to funds its operations without
having to use its equity to raise capital. The Company is
working on two more consulting agreements it hopes to have executed
by the end of year.
The Company decided to postpone the closing of the transfer
agency acquisition until after these agreements had been executed
and the 3rd quarter financials are filed. We have
been in touch with the Transfer Agency and they understood the need
to close these transactions for the long term growth of the
Company. The transfer agent acquisition is the next item to
be completed by Baron which will be completed prior to the end of
the year.
Baron's audit is underway. Our shareholders need to understand
since we wanted to write down the old liabilities to help clean up
the balance sheet the actual review of the audits did not begin
until just after the 2nd quarter was filed. Based
on the information the Company has received from the auditors we
still believe the audits for fiscal years 2007 through 2011 will be
completed by year end.
Other news items:
The accumulated salary will be written off against the issuance
of Series AA Preferred shares based on the closing price of the
Common as of September 30,
2012. Conversion of the accumulated salary to Preferred will
be calculated by taking the closing price, times 10,000, then
dividing the accumulated salary by that number equaling the number
of new shares of Series AA issued.
The Company is compiling the information needed to forward to
the auditors who will audit the subsidiary which should be
completed by the end of November. Then the new transfer
agency will be audited for fiscal years 2011 and 2012 leading to an
S-1 filing during the first quarter of 2013.
The Company is working on the executive summary and company
comparisons for its pending S-1 filing which it plans to do by the
end of 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.