Texas Oil and Minerals Announces Completion of Audits of Financial Statements for 2011 and 2012 and Uploading onto OTC Markets
1 hour 30 minutes ago RELATED QUOTES
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HOUSTON, TX, September 17, 2013 - (Accesswire) - Texas Oil and Minerals Inc. ( TOMI ) announced today that the Company’s Auditors, ADFK Certified Public Accountants have completed the Audits for the years ended December 31, 2011 and 2012 and the Independent Audit Opinions and financial statements were uploaded onto the OTC Market earlier this week. The company has now turned its attention and efforts toward the review of the results of operations of the Company’s first and second quarter 2013. Upon completion of the review of the Quarterly financials by the auditor TOMI will upload the Quarterly results onto the OTC Market and the Company will be current with its filings. The Company has prepared the Quarterly Financials for the periods ending March 31, 2013 and June 30, 2013 and expects the reports to be filed imminently. Upon the filing of these reports the Company will have achieved an OTC 'current' status. This requires the company to follow the Alternative Reporting Standard or the International Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to OTC Pink Basic Disclosure Guidelines, designated as OTC Pink Current Information. OTC Markets provides disclosure statements and has created OTC Pink Basic Disclosure Guidelines in order to assist issuers with understanding their disclosure obligations under the Alternative Reporting Standard.
The foregoing administrative efforts are part of the company's strategic plan under the leadership of CEO and President Tom Gouger for the business to maximize shareholder value, provide more transparency of company operations, and allow TOMI to meet the pre-requisites to apply for a "Fully-Reporting" status. Once this process is complete it is the intention of the Company to make the necessary filings with the appropriate regulatory agencies to move TOMI to the Bulletin Board. In addition reaching a "Fully Reporting" status will facilitate the implementation of the Company’s operating plan allowing the Management Team to begin acquiring working interest and other income producing assets as well as starting the process of raising funds for the development and improvement to these revenue producing properties.
About Texas Oil and Minerals
Texas Oil and Minerals creates value by acquiring and exploiting reserves in fields specifically targeted for oil and high-rate return North American clean burning natural gas. We are involved in prospects that range in value from $1,000,000 to $50,000,000, which include seismic and land projects, drilling prospects and the purchase of producing properties. With more than three generations of collective experience, this team of professional and talented production personnel can provide innovative exploration and development solutions focused on creating exceptional returns in oil and gas ventures through acquisition, exploration, and development. http://www.texasoilminerals.com/ .
For Further Information:
Investor Relations
1-866-786-2942
http://www.texasoilminerals.com/
Safe Harbor Statement:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as INCL or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
SOURCE Texas Oil and Minerals, Inc.
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