I think we need to reread all the PRs lol, it was there, ok recap,
The goal of the Company is to complete the audits in June and file the necessary documents with the SEC by July 1, 2012 to once again become a reporting entity. At the time of the filing the Company will introduce new members to its Board and new employees for key positions.
In the coming the weeks the Company expects several significant events may take place and the news of these events will be distributed as the events unfold.
Baron Capital Audit Has Begun
The Company should have fully audited financials by mid July, if not sooner, and looks forward to submitting the financials to the SEC to resume trading on the OTCBB.
The audits are another step required by the Company to facilitate its future goals and as each day goes by the Company gets closer to achieving these goals.
The Company previously announced it was planning to reduce its liabilities and as of today, $270,000 from the overall liabilities reported in the 1st Quarter will be wiped out by June 30, 2012. The goal of the Company is to reduce the liabilities so they amount to less then 50% of the stated assets of the Company.
The Company is in the process of securing new office space to allow for expansion and to improve the overall image of the Company. We anticipate entering into a new lease and relocating by July of this year.
Baron Capital To Maintain Current Share Structure For 2 Years
AND WILL NOT EFFECT A REVERSE SPLIT ON THE COMMON STOCK FOR TWO YEARS
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.
( www.baroncapitalenterprise.com ) would like to take this time and update shareholders on the progress of specific events the Company is working on.
The Company's audit is moving along with the goal of delivering 2007 through 2011 to the auditors within the next few weeks for their review. Once the auditors have completed their review of years 2007 through 2010 the Company will begin working with its counsel on the S1 filing.
The Company has selected a building in downtown Fort Lauderdale for its new headquarters and is working with the architects to finish the design layout so the Company can occupy the space by August of 2012.
The Company is seeking a legal opinion which will allow it to write-off a large portion of the debt on its books from prior management adding to the previous announced write down for the quarter.
The Company has been advised by counsel to change its state of incorporation from Florida to Delaware. The advice was due to the nature of business the Company is entering and the protections offered by the state of Delaware.
More updates to follow in the coming weeks.
