$BCAP
Baron Capital To Maintain Current Share Structure For 2 Years
AND WILL NOT EFFECT A REVERSE SPLIT ON THE COMMON STOCK FOR TWO YEARS
FT. LAUDERDALE, Fla., June 5, 2012 /PRNewswire via COMTEX/ -- Baron Capital Enterprises, Inc. (OTCPK: BCAP) ( www.baroncapitalenterprise.com ) is pleased to announce that the Company will be completing a mailing to all shareholders by the end of the month requesting them to vote on a resolution stating the current share structure shall remain the same for two years and the Company will not effect a reverse split during this period.
The Company intends to file Restated Articles with the State of Florida showing the Company has Authorized Common Stock of 2.4 Billion and 5 Million Authorized shares of Preferred Stock. The Company has received approval from the Preferred control group, but would like the Common shareholders to participate in the vote as well. The Company has already received approval from over 40% of the Common shareholders.
This will ensure the Company does not increase the Authorized shares of the Common stock for two years and does not create any other class of stock that could convert into the Common stock for two years. This will also give shareholders peace of mind that the Company will not effect any type of reverse split during the same period.
In other news:
The Company has narrowed its search for its new headquarters to two buildings and plans to announce its new home in a few weeks. Each building is a class A office building that will build out the new office suite to our specifications. This will be the new headquarters of the Company for 5 years. Our anticipated move-in time is the end of July to the beginning of August.
The audit process is moving along and further updates will be available shortly.
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, President matt@bcapent.com 954-623-3209
SOURCE Baron Capital Enterprises, Inc.
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