SOURCE: FBC Holding, Inc.
NEW YORK, NY--(Marketwired - Apr 28, 2014) - FBC Holding, Inc. (PINKSHEETS: FBCD) ("FBC" or the "Company") an international product development company, primarily focused on license/creation management and product sales/distribution through DRTV, announced today that the Company has completed all the necessary disclosures to become a Current Filer with OTC Markets.
"Becoming a 'Current Filer' with the OTC Markets was not the most desired option; nonetheless, a suitable alternative, rather than reflecting a 'limited information status' for any further extended period of time," stated Mr. Frank Russo, Chief Executive Officer of FBC Holding, Inc. "While the filing of Form 15 currently removes us from the filing requirements under the 1934 Act, we will continue providing our shareholders with the fullest disclosure and highest level of transparency possible, through the OTC Markets. We will continue these disclosures until the end of the next quarter, when we will then look to complete our audit and file Form 10, to meet the requirements of the 1934 Act."
Management noted that the Company had been carrying a yield sign for far too long, and believed that by being a 'fully reporting company' in this scenario [with yield sign], sent mixed messages to the public about FBC's legitimacy and viability. For reasons of expediency, and in a move to accommodate the concern of shareholders, management made the decision to de-register for approximately 120 days. During this time, management will continue to pursue the proper completion of their audits. Upon re-registering to comply with the 1934 Act, "we intend to up-list to a higher exchange," continued Mr. Russo.
Mr. Russo concluded, "We are just shy of hitting targeted sales numbers for our copper based technology compression fabric. We have recently expanded into the Agriculture product markets. We have several upcoming products, as well as acquisitions set to roll-out, that we believe are disruptive in some cases. We feel extremely confident FBC could be catapulted into profitability by year-end. Therefore, filing the Form 15 for purposes of providing optimal comfort to shareholders -- to become a 'Current Filer' -- is of little consequence to the overall intent for FBC's development, growth, opportunity and economic viability."
Management anticipates that the Company will receive the status of 'Current Filer' by week's end.
About FBC Holding, Inc.
FBC Holdings develops and markets innovative products using a 'new proprietary' technology whereby buttons, switches, wires and other electrical components can be printed on nearly any media. Management is experienced in Direct to Consumer Marketing (design, manufacture and market creative products leveraging cutting edge technology). FBC's market is diverse, covering consumer products, health care related products, and, toy and entertainment products.
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors" in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov. For all details regarding working interests in all of FBC Holding's interest, and/or any previous news releases, go to OTC Markets website. You should independently investigate and fully understand all risks before making investment decisions.