FBC Holding Files Disclosures; Awaits Current Filer Approval From OTC Markets
April 28 2014 - 7:37AM
Marketwired
FBC Holding Files Disclosures; Awaits Current Filer Approval From
OTC Markets
NEW YORK, NY--(Marketwired - Apr 28, 2014) - FBC Holding, Inc.
(PINKSHEETS: FBCD) ("FBC" or the "Company") an international
product development company, primarily focused on license/creation
management and product sales/distribution through DRTV, announced
today that the Company has completed all the necessary disclosures
to become a Current Filer with OTC Markets.
"Becoming a 'Current Filer' with the OTC Markets was not the
most desired option; nonetheless, a suitable alternative, rather
than reflecting a 'limited information status' for any further
extended period of time," stated Mr. Frank Russo, Chief Executive
Officer of FBC Holding, Inc. "While the filing of Form 15 currently
removes us from the filing requirements under the 1934 Act, we will
continue providing our shareholders with the fullest disclosure and
highest level of transparency possible, through the OTC Markets. We
will continue these disclosures until the end of the next quarter,
when we will then look to complete our audit and file Form 10, to
meet the requirements of the 1934 Act."
Management noted that the Company had been carrying a yield sign
for far too long, and believed that by being a 'fully reporting
company' in this scenario [with yield sign], sent mixed messages to
the public about FBC's legitimacy and viability. For reasons of
expediency, and in a move to accommodate the concern of
shareholders, management made the decision to de-register for
approximately 120 days. During this time, management will continue
to pursue the proper completion of their audits. Upon
re-registering to comply with the 1934 Act, "we intend to up-list
to a higher exchange," continued Mr. Russo.
Mr. Russo concluded, "We are just shy of hitting targeted sales
numbers for our copper based technology compression fabric. We have
recently expanded into the Agriculture product markets. We have
several upcoming products, as well as acquisitions set to roll-out,
that we believe are disruptive in some cases. We feel extremely
confident FBC could be catapulted into profitability by year-end.
Therefore, filing the Form 15 for purposes of providing optimal
comfort to shareholders -- to become a 'Current Filer' -- is of
little consequence to the overall intent for FBC's development,
growth, opportunity and economic viability."
Management anticipates that the Company will receive the status
of 'Current Filer' by week's end.
About FBC Holding,
Inc.
FBC Holdings develops and markets innovative products using a
'new proprietary' technology whereby buttons, switches, wires and
other electrical components can be printed on nearly any media.
Management is experienced in Direct to Consumer Marketing (design,
manufacture and market creative products leveraging cutting edge
technology). FBC's market is diverse, covering consumer products,
health care related products, and, toy and entertainment
products.
Safe Harbor
This news release contains forward-looking statements.
Forward-looking statements are statements which relate to future
events. In some cases, you can identify forward-looking statements
by terminology such as "may," "should," "expects," "plans,"
"anticipates," "believes," "estimates," "predicts," "potential" or
"continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may
cause our or our industry's actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. While
these forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current
judgment regarding the direction of our business, actual results
will almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance
suggested herein. Except as required by applicable law, including
the securities laws of the United States, the Company does not
intend to update any of the forward-looking statements to conform
these statements to actual results. Readers are referred to the
sections entitled "Risk Factors" in the Company's periodic filings
with the United States Securities and Exchange Commission, which
can be viewed at http://www.SEC.gov. For all details regarding
working interests in all of FBC Holding's interest, and/or any
previous news releases, go to OTC Markets website. You should
independently investigate and fully understand all risks before
making investment decisions.
For investor relations, FBC Holding, Inc. Email Contact
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