SOURCE: ECOLOGIX Resource Group

ECOLOGIX Resource Group

April 15, 2010 16:15 ET

ECOLOGIX Resource Group Announces Delay in 10K Filing

BEVERLY HILLS, CA--(Marketwire - April 15, 2010) -  ECOLOGIX Resource Group (OTCBB: EXRG) will file an extension notification with the SEC relating to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, to allow additional time to finalize its 2009 financial statements.

Due to unanticipated delays in reviewing its rapidly growing business operations, Ecologix was unable to file its Annual Report on Form 10-K within the prescribed time period without unreasonable effort and expense. The Company cited its recent growth acceleration, most of which began in the first quarter of 2010 with the ramping up of revenue-generating activities in Cameroon, as the principal reason for the delay. Ecologix management fully expects to file the required report within the allotted extension period of 30 days, and is sending a team of auditors on-site in Cameroon to expedite the process.

The Company also noted as a result of the delayed filing its stock ticker symbol will temporarily be changed, with the letter "E" appended at the end of the Company's ticker (OTCBB: EXRGE).

About ECOLOGIX Resource Group

ECOLOGIX Resource Group is a natural resource company focused on the timber industry and production of alternative energy solutions in accordance with the most stringent environmental standards regulating these industries. ECOLOGIX has an unyielding commitment to global conservationism, and is structured to operate in a manner that is responsible, compliant and profitable. Presently, the Company's focus is primarily on the timber industry; however, as the business grows, ECOLOGIX continues to explore opportunities with other natural resources such as biofuel and oil, and will evaluate other countries and geographies. Additional information on ECOLOGIX Natural Resource Group is available on its website, www.ecologixrg.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that a number of factors could cause our actual results to differ materially from any results indicated in this release or in any other forward-looking statements made by us, or on our behalf. These include among others factors related to general economic conditions, interest rates, demand for materials handling products and construction equipment, performance of our manufacturing facilities and the cyclical nature of the materials handling and construction equipment industries. Further, historical information should not be considered an indicator of future performance. Additional considerations and important risk factors are described in our reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    ECOLOGIX Resource Group
    Toll free: 1 888-LOGIXRG (564-4974)
    Email: ir@ecologixrg.com