The Company stated the Assets would increase by 10 fold from June's report and has exceeded that. In fact, they are up 696% since year end December 31, 2010 just 9 months ago. At the same time, the Company stated its liabilities would be reduced by 40% from June's report and yet we have exceeded that as well. In fact, the Company started the year off with total liabilities of $1,889,320 as of March 2011.
Matt Dwyer CEO stated, "We are extremely excited about the report. It reflects all the hard work we have been putting into the Company to clean it up and make it viable without having to do a Reverse Split. We look forward to wiping out the balance of our liabilities and reducing our overall share structure over the next 6 months."
The Company will hold an Investor Conference call later today starting at 12:30 PM ET.
The Call in information is: Conference dial-in number: (209) 647-1600 and the Access code: 239084#
During the conference we ask each caller to limit their questions to one each, allowing as many callers as possible to participate. We also request that listeners pay close attention to questions asked so we do not waste time answering the same questions more than once.
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.
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