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BARON CAPITAL ANNOUNCES SHAREHOLDER UPDATES
- Reduces authorized common shares to 2.9 billion
- Freezes common share structure for 1 year
- Bars any reverse split for 1 year
- During the 3rd quarter of 2016 Baron collected over $50,000 from its receivables, marking 9 straight quarters the Company has collected money.
Coconut Creek, FL -- September 28, 2016 -- InvestorsHub NewsWire -- Baron Capital Enterprises, Inc. (OTCPK: BCAP) has filed an Amendment with the State of Florida to reduce the number of Authorized Common Shares and has created a convertible Preferred Series B that cannot convert into Common Shares until October 1, 2017.
During the 3rd quarter of 2016 the Company is pleased to announce it collected over $50,000 from it receivables. This achievement marks the 9th straight Quarter Baron has collected money owed the Company.
Baron continues to function as a consulting firm working with companies looking to go public, as well as public companies looking for guidance. Baron has now turned a corner financially and will continue to work with companies while exploring additional ways of generating money.
Common and Preferred Share Structure updates:
As part of the revamp of Baron’s share structure, now that the Company has begun collecting from its receivables, Baron recently elected to eliminate its super voting Preferred Series AA. This action caused a temporary increase in the Common Share structure allowing Baron’s sole offer and director to convert his Preferred shares into Common. The temporary increase in Common Shares was part of a process which ultimately resulted in the creation a new Preferred Series B. The Preferred Series B Amendment has now been filed allowing the Common Share structure to be reduced once again.
The Preferred Series B contains several positive benefits for Common shareholders, including a caveat placed within the conversion preferences of the Preferred Series B stating those shares cannot be converted into Common shares at any time before October 1, 2017.
Going forward, the total number of Authorized Common Shares after filing the Preferred Series B Amendment shall be 2.9 Billion shares. 530 million shares of the Authorized Common shares have been reserved allowing Baron to use as needed, the additional shares are not needed to raise capital as Baron has been generating revenue since 2014.
Baron has also taken several actions by amending its By-Laws, including by adding a special provision which expires in one (1) year that would restrict the Company from increasing its Authorized Common Shares, or enacting a Reverse Split on its Common shares.
A mandate has also been added so that if Baron issues any new shares of its Common stock, the Company must within 90 days of the date of issuance begin purchasing an equal amount of Common shares in the open market so the number of total outstanding shares remains at 2,362,355,947.
Baron previously created an almost identical share freeze in 2012 which essentially locked the Common share structure for a period of two (2) years. The share structure has in fact not changed in four (4) years until the recent series of amendments.
Baron will continue to use newswire services, but will also begin taking advantage of social media outlets and its own website to disseminate Company news.
The temporary increase in Common Shares was part of a process which ultimately resulted in the creation a new Preferred Series B. The Preferred Series B Amendment has now been filed allowing the Common Share structure to be reduced once again.
A/S raised to 7B
Reduces authorized common shares to 2.9 billion
OTCMarkets Has Removed The Stop Sign And Upgraded The Company To OTCPink Current
Baron Capital Is Pleased To Announce OTCMarkets Has Removed The Stop Sign And Upgraded The Company To OTCPink Current
COCONUT CREEK, FL / ACCESSWIRE / September 23, 2016 / Baron Capital Enterprises, Inc. (OTCPK: BCAP) is pleased to announce the "Stop Sign" has been removed from the Company and the Company has been upgraded to OTCPINK Current status.
Baron through its filings have brought its shareholders current from June 30, 2014 through June 30, 2016 and the results show a thriving business.
Total Assets have grown 312%, total investments have grown 2,711%, total Notes have been reduced by 3%, and a huge increase in Net Income. The June 2016 report can be viewed here http://tinyurl.com/hpso256.
The business began to take form in 2014 when revenues starting posting. The Company has grown tremendously since June 2014 in assets, investments and revenue.
The source of the revenue since December 2015 has not come from any past clients. Moving forward unless for a regulatory reason the Company will not disclose any of its clients.
The Company made several advances since the last report including reinstating its transfer agent Continental Stock Transfer for the first time since April of 2012. The Company also filed an Amendment and eliminated the Super voting Preferred stock. The total number of Authorized Common shares has been raised to allow for the Preferred to convert into Common, and Baron will then eliminate the Preferred.
Baron is actively working with counsel to address the DTC Chill status and will present a plan to shareholders shortly.
Baron will continue to use newswire services, and will also begin taking advantage of social media outlets and its own website to disseminate updates on the Company.
Baron Capital Enterprise works with emerging growth companies seeking to go public through either a reverse merger or through an S1 Registration.
Companies must be able to compete a comprehensive audit along with passing a background check for all principals, and 5% or greater shareholders prior to being appointed.
Baron Capital Enterprise will gladly assist each company through all the required steps from the audit to preparing the S1
questionnaire for filing with the U.S. Securities and Exchange Commission (SEC).
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