Baron Capital issues update:
The 3rd quarter has been extremely slow and hampered with clearing delays and price erosion. Baron had entered into deals to exchange shares of CYBK in order to boost its cash flow for the 3rd quarter. Unfortunately when the shares had been cleared to trade the price had already dropped by $.02 with no support and the other company Baron had free trading shares in saw its price drop to a zero bid for now.
While this is a setback for the Company it appears to be a minor setback which should correct itself for the 4th quarter.
Baron has been working with a private company to merge into one of its subsidiary entities and then file a Form 10 and get listed to trade. The company has delivered 2012 and 2013 information to its CPA who will bundle the information together and deliver it to its auditors along with the first 9 months of 2014. The audit is expected to be completed by Thanksgiving if not sooner at which time Baron will have 2 weeks to review the audit, if everything is as represented then the merger will close.
Once the merger is closed a Form 10 will be filed within 30 days so the company can trade on the OTCQB as a standalone company, Baron will be a shareholder of the company.
Baron will begin delivering its financial information to the auditors in late November early December and should have audited financial within 45-60 days after receipt.
More information will be released as events unfold.
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