FT. LAUDERDALE, Fla., Sept. 21, 2012 /PRNewswire/ -- Baron Capital Enterprises, Inc. (OTCPK: BCAP) (www.baroncapitalenterprise.com) is pleased to announce the Company has completed the acquisition of a subsidiary entity with 45 existing shareholders.
The entity acquired was created back in the late 1990's when it was easier to perform reverse mergers and take companies public. This entity has never had any operations and is 100% clean. It is considered a "Virgin Shell." With the help of a group of Barons' shareholders, the Company was able to acquire majority control of the company. The shareholders who participated with the acquisition will receive shares in the new entity not in Baron.
Baron intends to operate its transfer agency and brokerage services within the new entity. Upon its first acquisition, Baron will perform an audit of the combined business operations and file an S-1 to raise additional working capital to enable the Company to complete its two year business plan.
At this time all those who participated with the private placement and have received information pertaining to the proposed acquisition of the subsidiary are now able to trade Baron again.
Baron still plans on completing its own audit and filing an S-1 to move up to a higher exchange.
Once Baron has been notified by Broadridge that is has received enough votes on the Consent, the Company will file the Restated Articles with Sunbiz.Org and post the Restated Articles and Amended By-Laws on OTC Markets. A post card notice announcing the passing of the Consent shall be sent to all 1,578 shareholders of the Company.
More updates on the Company to follow over the coming weeks.
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.
Matt Dwyer, President
SOURCE Baron Capital Enterprises, Inc.