BCAP Baron Capital Enterprise Inc (CE)

-       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 Nov 2024 to Dec 2024

Baron Capital Enterprise (CE) (USOTC:BCAP)
Historical Stock Chart
From Dec 2023 to Dec 2024