BIH Corporation Moves Forward With Planned Merger
BROOKLYN, N.Y., May 20 /PRNewswire-FirstCall/ -- BIH Corporation (Pink Sheets: BIHC) today announced that the Company will proceed forward with the previously announced merger.
BIH Corporation's management has invoked a deadline for completing the merger and intends to hold itself and all participating parties liable for any delays.
*Turner Hughes Corporation will act as an adviser/consultant on behalf of BIH Corporation regarding the transaction.
Edward W. Hayter Sr., President of BIH Corporation has stated, “I look forward to the completion of this merger as it is in the best interest of the Company and its shareholders.”
BIH Corporation has received many inquiries from shareholders asking why the prior President did not respond to inquiries from the Securities and Exchange Commission. New management thoroughly reviewed its records and found no indication that the SEC made any attempt to contact the company prior to the suspension.
There was no request for information, no subpoena, no telephone message, no email, and no postal service document indicating that the SEC desired information. Had they requested information, BIH Corporation would have provided it.
"It is a shame that some or one disgruntled non-shareholder could or would interfere with the Company's operations by making unfounded allegations regarding our previous President to the effect that he did not exist is beyond comprehension," said Mr. Hayter.
Regarding our core business, shareholders are reminded that the Baron subsidiary continues to operate and generate revenue and has done so for the past 28 years. Baron receives new customers and new orders on a regular basis. Once the merger is complete, the Company will release significant additional details.
* Turner Hughes Corporation is a privately held Company of Edward W Hayter Sr. the current President & CEO of BIH Corporation.
This press release does not constitute an offer of securities for sale. It contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause results to differ. Statements are based on information available as of the date hereof, and the company undertakes no obligation to update any statement to reflect occurrences after the date of this release.
SOURCE BIH Corporation
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