UNIONDALE, N.Y., Jan. 22, 2013 /PRNewswire/ -- Kenilworth Systems Corp. (OTC: KENS). Kenilworth CEO, Dan Snyder, today confirmed that the company is now ready to complete the financial audit and return the Company to its former fully reporting status.
"Kenilworth has now completed the lengthy process of updating the company financial statements for the last four years and bring them into compliance. This update was necessary to reflect the 2012 share recapitalization, changes in timing of shareholdings, and the formation of subsidiary companies to advance the Company's core business," stated Mr. Snyder.
In preparation for filing with the SEC, Kenilworth's Chief Financial Officer and staff have worked tirelessly to bring the Company financials current and prepare them for submission to independent PCAOB auditors. KENS quarterly 10Q financial statements are now up to date and the annual 10K for 2012 is in the process of being prepared for filing after audit. These steps will bring Kenilworth into compliance with the SEC rules for fully reporting companies.
The Company will be applying to FINRA to quote the company shares on the OTC: QB. The OTCQB was created in 2010 to help investors identify small and emerging companies like Kenilworth that are current in their regulatory reporting obligations and to facilitate their electronic trading through a broad spectrum of broker-dealers.
"Kenilworth is now ready to return to its former glory," Mr. Snyder also stated.
Kenilworth Systems Corporation is an integrated technology corporation with intellectual property assets and technical capabilities in the live online gaming sector. The Company is based in Uniondale, New York and has a subsidiary, KenSysCo Gaming, Inc. in Las Vegas, Nevada.
FORWARD LOOKING STATEMENTS
The information contained in this Press Announcement includes "forward-looking" statements within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. Such information involves important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward looking statements herein. Future operating results may be adversely affected as a result of a number of factors.
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SOURCE Kenilworth Systems Corp.