International Consolidated, Inc. Increases Transparency and Advances a Tier on OTC Markets
(firmenpresse) - SARASOTA, FL -- (Marketwire) -- 09/30/11 -- (PINKSHEETS: INCC) -- International Consolidated, Inc. announces today that it has fulfilled the requirements of OTC Markets pursuant to the Alternative Reporting Standards in order to move up to the Limited Information Tier. Further, the Company will pursue continued efforts with OTC Markets to procure status with OTC Markets in the near term to OTC Pink Current as required with continued reporting requirements as provided in the Alternative Reporting Standards.
In addition, the Company has initiated an agreement in principal with an experienced New York City based consulting firm to update the Company's financial reporting in accordance with the Generally Accepted Accounting Principles (GAAP). Financial information on the Company is now available on .
OTC Markets has implemented a strict information reporting system for non-reporting companies and categorizes them in accordance to transparency elements from Caveat Emptor to Current Information for OTC Markets companies. The Company is making progress towards complying with the Alternative Reporting Standards, and anticipates receiving acceptance to "OTC Pink Current." International Consolidated, Inc. President Antonio F. Uccello III says of the recent changes, "We're very excited to provide a better window into the Company's marketability and transparency in the marketplace. The insight is fundamental to our code, and it is what our shareholders expect." OTC Markets report average yearly volume for limited information companies at nearly 25 times more than that of other companies at lower tiers or reduced levels of transparency.
This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of International Consolidated, Inc. to complete the proposed submission(s), the results of International Consolidated, Inc. ability to produce financial statements in accordance to GAAP, the success of the business, including the ability of International Consolidated, Inc. to continue to sell the applicable products and the acceptance of any newly designed products by the market, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings or filings which are accepted under the Alternative Reporting Standards.
Alex Livak
Tel: 917-239-6800
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Datum: 30.09.2011 - 11:47 Uhr
Sprache: Deutsch
News-ID 1041317
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