ASHBURN, Va., April 11, 2014 /PRNewswire/ -- SteelCloud, Inc. (OTCQB: SCLD) (the "Company") announced today that, in order to satisfy a portion of its outstanding obligations, substantially all of its assets have been transferred to SteelCloud LLC, an unrelated private company. The Company intends to formulate a plan for the wind down of operations and the dissolution of the public Company within the next several weeks. The Company anticipates that there will be no distributions to its shareholders resulting from such plan.
FORWARD-LOOKING STATEMENTS: Statements in this press release that are not purely historical facts, including statements regarding SteelCloud, Inc.'s (the "Company") beliefs, expectations, intentions or strategies for the future, may be forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, the Company's ability to obtain financing in the short term; general business conditions and the amount of growth in the computer industry and the general economy; competitive factors; ability to attract and retain key sales and management personnel; the price of the Company's stock. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances that may arise.
SOURCE SteelCloud, Inc.