Baron through its filings has brought is shareholders current up through June 30, 2014 and would like to take this time to layout the Company's objectives for the last 6 months of 2014.
Baron should have several hundred thousand dollars in its coffers to grow the business during the last 6 months of 2014 generated from the equity it currently holds and is entitled to receive.
The Company will allocate the use of those funds as follows:
1. To pay down debt and strengthen Baron's balance sheet.
2. To retain the new auditor and complete an audit for 2012 through June of 2014.
3. To audit the 2 shell companies Baron owns and to file a Form 10 for each.
4. To move transfer agents.
5. To create a new website.
6. To establish a corporate headquarters.
7. To pay for legal services for various matters which should yield beneficial outcomes for the Company.
8. Put the proper D&O insurance in place to attract new Officers and Directors.
9. Generate new business.
Baron should close 2014 on deals for its two shells with the goal of having one if not both of them trading before the year is out. Baron will use the money generated to fund operations for next year with a goal to complete 4 new deals prior to the end of 2015 and 6 deals for 2016.
As the Company collects it's fees on the new deals moving forward Baron should have more working capital and therefore the Company can work on bigger and better deals.
The Company has removed the Special Provision within the Bylaws of the Corporation as voted and agreed to by a majority of the shareholders in 2012. Baron has not issued a single share of Common or Preferred since January of 2012 and currently has no plans or need to increase either the Authorized or the Outstanding share count.
Once the new Board is created a plan will be presented to eliminate the Preferred without converting any of the Preferred stock, but will entail the Company buying some of the Preferred and buying back half of the current float over a period of time.
Baron will continue to use newswire services, but will also begin taking advantage of social media outlets and its own website to disseminate news on the Company.
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
954-623-3209
SOURCE: Baron Capital Enterprises, Inc