FT. LAUDERDALE, Fla.,
Jan. 6, 2012 /PRNewswire/ -- Baron
Capital Enterprises, Inc. (OTC:BCAP: PK)
(www.baroncapitalenterprise.com) would like to take this time to
dispel some rumors and false statements being made about the
Company and its current Sole Officer and Director.
The Company filed a Form D on November
30, 2011 with the SEC alerting investors it was seeking to
raise $250,000 through a 504 Reg D
Offering. The Company has to date received a total of
$102,500 in 4 separate transactions
from a third party company, Fairhill Capital each transaction will
be detailed in our Annual Report.
The Company used a 3rd party to avoid any concerns of
impropriety. The Company has received emails claiming that it
has sold 1 billion shares averaging $.0005 or $500,000;
these are false and misleading allegations. The first sale of
the 504 was re-priced due to a severe drop in market value from
when the Company first began talking to Fairhill and then continued
to drop, falling 50% from $.0012.
The Company had approximately $9,000 in the bank at year end and the balance
was used for Company expenses which will be outlined in its Annual
Report. Part of the proceeds have been used to acquire the
software needed to operate the Transfer Agency which training for
that software will take place this month. The remainder was used as
loans made to other companies as part of its normal operations.
The Company had stated several times last year that it intended
to reduce the Authorized shares to 1.2 billion by year end of
2011. While the Company had every intention of completing
this task it needed to move forward on its business plan to allow
this action to take place. The Company decreased its
Authorized shares from 100 billion to 1.4 billion then increased
the Authorized shares back to 2.4 billion. This was meant to
be used as bridge to allow the Company to move forward.
Unfortunately the market value of the Company decreased and
unforeseen obstacles with its investments have lead to delays in
this intended plan.
The Company had several issues that derailed the stock buy-back
from taking place using proceeds from its convertible
debt. First, was a Caveat Emptor placed on one company
and the second company has a "DTC Chill" on new deposits, which
that company is working to get fixed. Baron has worked to get
both companies restored back to Current Information so once a
brokerage account is opened the Company can begin to convert its
debt. The trading account is currently in the works as the
Company was forced to open an account out of the Country because it
was viewed as a competitor even though it is not. To date,
Baron still owns all the debt in both companies and has yet to
convert any of its debt.
The Company also planned on having a few investors purchase
shares in the open market and exchange them for Preferred, but once
again, due to the drop in value that has continued this would not
have benefited the Company. The purchase of shares at this
stage on the open market and exchanged with Company would allow
only a few shareholders to benefit. The Company has based on its
last NOBO list over a 1,000 shareholders, thus, actions of the
Company should benefit everyone.
Updates will follow 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.