SOURCE: Cephas Holding Corp

March 30, 2011 12:32 ET

Cephas Holding Provides Guidance on Reporting Status

PHOENIX, AZ--(Marketwire - March 30, 2011) - Cephas Holdings Inc. (PINKSHEETS: CEHC) today announced that it was completing the review of the necessary materials for the filing of the company's annual report on Form 10-K.

Working with its auditor, Peter Messineo, CPA, the Company intends to file this report on a timely basis. The Company is committed to providing periodic, financial statements to its shareholders. Additionally, the company will make application to resume the quotation of its securities on the OTCBB as soon as it is eligible.

The Company also expects to prepare its wholly owned subsidiary, Legend Studios, Inc. for a registration statement on Form 10-12 and possible spin off later this year. 

"We are encouraged by the development of our business prospects so far. We are committed to expanding our asset base in the areas of mobile applications, social networking, and specific equity acquisitions in related businesses," added Peter Klamka, President of Cephas Holding Corp.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "INTENDS," "EXPECTS," OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

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