Update on BCAP website: Baron is postponing its
Post# of 16816
Posted On: 03/28/2014 7:11:18 PM
Update on BCAP website:
Baron is postponing its updates for 60-90 days to allow the Company to write off additional debt that could total $100,000.
In the meantime management felt it was in the best interests of the shareholders to share information about the Company in its current condition.
The Share Freeze shall remain enforce until July 1, 2014. The only way to remove the freeze is with the consent of a majority of the Common shareholders only the Preferred shareholders are not allowed to vote in this matter. On July 1, 2014 the special provision with the Bylaws is automatically removed and the Company may make any changes to the share structure it deems necessary and in the best interests of the shareholders.
In January of 2013 Baron moved all of its financing operations to White Financial a wholly owned subsidiary of Baron since September of 2012 the current President shall remain the same.
As for the investments of Baron: RIGH – In 2012 Baron negotiated with RIGH to restructure its Notes which included writing off debt, eliminating accrued interest, and restructuring its remaining Notes to assist RIGH in seeking funding to move forward. The revised Notes called for RIGH to convert the remaining debt upon receiving a conversion notice from Baron. RIGH has refused to honor their agreement and convert any of the notices sent to them and their President Angel Stanz has ceased all communications with Baron. Baron has a Note executed by RIGH for the purchase of 800,000 shares of Preferred stock Baron sold to RIGH in October of 2011 which paved the way for the BG Medical transaction to be completed. Baron intends on seeking the return of its 800,000 shares of Preferred since they have not been paid for and will seek to have all the debt eliminated restored. The last issuance of shares for any debt owed to Baron was in 2012 totaling 750,000,000 free trading shares and all the shares had been sold in 2012.
TGGI – TGGI and Baron have remained in constant communication, Baron has yet to seek conversion of any of its debt from TGGI and has never received any shares of TGGI. Baron is working with TGGI to help restructure its debt to allow TGGI to move forward with its business plans. In the future Baron will seek to collect on its debt from TGGI.
CYBK – CYBK owes Baron $330,000 from its consulting agreement entered into in November of 2012. In October of 2013 CYBK and Baron agreed to allow Baron to convert its debt into equity of CYBK. In November of 2013 Baron elected to receive equity instead of cash to repay its debt, but has yet to receive any shares of CYBK and will not ask to convert any of its debt into shares before the last quarter of 2014.
In 2012 Baron had executed two letters of intent to acquire two companies each with an operating transfer agency. Due to the fact RIGH delayed issuing Baron its shares requested per the notice of conversion from June until September and not paying off the Note for $200,000 due in November both of the transactions were not able to be closed and are not pending to be closed at this time.
There will be no further updates until the Company is current with OTCMarkets.
http://www.baroncapitalenterprise.com/
Baron is postponing its updates for 60-90 days to allow the Company to write off additional debt that could total $100,000.
In the meantime management felt it was in the best interests of the shareholders to share information about the Company in its current condition.
The Share Freeze shall remain enforce until July 1, 2014. The only way to remove the freeze is with the consent of a majority of the Common shareholders only the Preferred shareholders are not allowed to vote in this matter. On July 1, 2014 the special provision with the Bylaws is automatically removed and the Company may make any changes to the share structure it deems necessary and in the best interests of the shareholders.
In January of 2013 Baron moved all of its financing operations to White Financial a wholly owned subsidiary of Baron since September of 2012 the current President shall remain the same.
As for the investments of Baron: RIGH – In 2012 Baron negotiated with RIGH to restructure its Notes which included writing off debt, eliminating accrued interest, and restructuring its remaining Notes to assist RIGH in seeking funding to move forward. The revised Notes called for RIGH to convert the remaining debt upon receiving a conversion notice from Baron. RIGH has refused to honor their agreement and convert any of the notices sent to them and their President Angel Stanz has ceased all communications with Baron. Baron has a Note executed by RIGH for the purchase of 800,000 shares of Preferred stock Baron sold to RIGH in October of 2011 which paved the way for the BG Medical transaction to be completed. Baron intends on seeking the return of its 800,000 shares of Preferred since they have not been paid for and will seek to have all the debt eliminated restored. The last issuance of shares for any debt owed to Baron was in 2012 totaling 750,000,000 free trading shares and all the shares had been sold in 2012.
TGGI – TGGI and Baron have remained in constant communication, Baron has yet to seek conversion of any of its debt from TGGI and has never received any shares of TGGI. Baron is working with TGGI to help restructure its debt to allow TGGI to move forward with its business plans. In the future Baron will seek to collect on its debt from TGGI.
CYBK – CYBK owes Baron $330,000 from its consulting agreement entered into in November of 2012. In October of 2013 CYBK and Baron agreed to allow Baron to convert its debt into equity of CYBK. In November of 2013 Baron elected to receive equity instead of cash to repay its debt, but has yet to receive any shares of CYBK and will not ask to convert any of its debt into shares before the last quarter of 2014.
In 2012 Baron had executed two letters of intent to acquire two companies each with an operating transfer agency. Due to the fact RIGH delayed issuing Baron its shares requested per the notice of conversion from June until September and not paying off the Note for $200,000 due in November both of the transactions were not able to be closed and are not pending to be closed at this time.
There will be no further updates until the Company is current with OTCMarkets.
http://www.baroncapitalenterprise.com/
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