Hollund Industrial Marine Files Annual Report - Looks Towards Initiating Audit
BLAINE, Wash., April 17, 2013 /PRNewswire/ -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced today that on the evening of April 15th, 2013, the Company made a voluntary filing of its Annual Report with OTC Markets; while looking to begin the auditing process within the 3rd QT of this year.
"This filing was unlike any other for us," stated Peter Meier, President of Hollund. "While we are generally timely with our filings, given our current ambition, we thought it appropriate to take a bit more care and diligence to help ensure an easier transition from 'voluntary' filings to 'SEC required' filings."
As mentioned in October 2012, the company sought to eventually obtain a PCAOB audit and file with the SEC. According to management, the company still intends to pursue 'up-listing' within the year, should certain key opportunities come to fruition.
Mr. Meier continued, "February was initially considered to be our transitioning period to the PCAOB audit. However, this past filing was an eye opener to our true potential. Today we feel much more prepared to formally commence the up-listing process sometime within the third quarter of the year. We expect this event to be proceeded by two major accomplishments."
Management has indicated that its South American Project Development Team has made considerable strides in securing concessions in Latin America. With concessions "come financing opportunities," said Meier.
Meier concluded, "Should the preliminary study of the targeted asset prove positive, we believe that funding will shortly follow. Should this be the case, then our up-listing will be accompanied by considerable opportunity and value for our shareholders."
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (Pink Sheets: HIMR) seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model – including resource and needs assessment, permitting, environmental and project planning, logging, milling, product branding and sales adds value for our shareholders, our partners and reservoir based communities.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.
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SOURCE Hollund Industrial Marine, Inc.