BARON CAPITAL ANNOUNCES SHAREHOLDER UPDATES
September 28 2016 - 12:00PM
InvestorsHub NewsWire
- Reduces authorized common shares to 2.9
billion
- Freezes common share structure for 1
year
- Bars any reverse split for 1 year
- During the 3rd quarter of 2016 Baron
collected over $50,000 from its receivables, marking 9 straight
quarters the Company has collected money.
Coconut Creek, FL -- September 28, 2016 -- InvestorsHub NewsWire --
Baron Capital Enterprises, Inc. (OTCPK:
BCAP) has filed an Amendment with the State of Florida to
reduce the number of Authorized Common Shares and has created a
convertible Preferred Series B that cannot convert into Common
Shares until October 1, 2017.
During the 3rd quarter of 2016 the Company is pleased to announce
it collected over $50,000 from it receivables. This achievement
marks the 9th straight Quarter Baron has collected money owed the
Company.
Baron continues to function as a consulting firm working with
companies looking to go public, as well as public companies looking
for guidance. Baron has now turned a corner financially and will
continue to work with companies while exploring additional ways of
generating money.
Common and Preferred Share Structure updates:
As part of the revamp of Baron’s share structure, now that the
Company has begun collecting from its receivables, Baron recently
elected to eliminate its super voting Preferred Series AA. This
action caused a temporary increase in the Common Share structure
allowing Baron’s sole offer and director to convert his Preferred
shares into Common. The temporary increase in Common Shares was
part of a process which ultimately resulted in the creation a new
Preferred Series B. The Preferred Series B Amendment has now
been filed allowing the Common Share structure to be reduced once
again.
The Preferred Series B contains several positive benefits for
Common shareholders, including a caveat placed within the
conversion preferences of the Preferred Series B stating those
shares cannot be converted into Common shares at any time before
October 1, 2017.
Going forward, the total number of Authorized Common Shares after
filing the Preferred Series B Amendment shall be 2.9 Billion
shares. 530 million shares of the Authorized Common shares have
been reserved allowing Baron to use as needed, the additional
shares are not needed to raise capital as Baron has been generating
revenue since 2014.
Baron has also taken several actions by amending its By-Laws,
including by adding a special provision which expires in one (1)
year that would restrict the Company from increasing its Authorized
Common Shares, or enacting a Reverse Split on its Common
shares.
A mandate has also been added so that if Baron issues any new
shares of its Common stock, the Company must within 90 days of the
date of issuance begin purchasing an equal amount of Common shares
in the open market so the number of total outstanding shares
remains at 2,362,355,947.
Baron previously created an almost identical share freeze in 2012
which essentially locked the Common share structure for a period of
two (2) years. The share structure has in fact not changed in four
(4) years until the recent series of amendments.
Baron will continue to use newswire services, but will also begin
taking advantage of social media outlets and its own website to
disseminate Company news.
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
Matthew Dwyer
954-623-3209
matt@bcapent.com
Baron Capital Enterprise (CE) (USOTC:BCAP)
Historical Stock Chart
From Sep 2024 to Oct 2024
Baron Capital Enterprise (CE) (USOTC:BCAP)
Historical Stock Chart
From Oct 2023 to Oct 2024
Real-Time news about Baron Capital Enterprise Inc (CE) (OTCMarkets): 0 recent articles
More Baron Capital Enterprise, Inc. (PC) News Articles