National Institute Companies of America (`NICA'), (OTC Bulletin Board: NICME), Issues a Statement Regarding Rescission of the Form 10
PITTSBURGH, June 8 /PRNewswire/ -- National Institute Companies of America (``NICA''), (OTC Bulletin Board: NICME - news), issues a statement regarding rescission of the Form 10.
The Form 10 was withdrawn on June 7, 2000 for the purposes of responding to specific questions and clarifying certain items. NICA management is currently reviewing these issues with the legal and accounting teams to respond to these questions. ``Our goal is to re-file within 7-10 days. The inquiries we have received appear to be routine for a first time filing and we are comfortable that we can respond in an expeditious manner,'' said Kevin P. Maloney, President. This move was expected as part of the filing process and is not anticipated to cause any significant problems.
NICA management has been aware that the timing for the approval process could result in a return to the ``pink sheets'' prior to full governmental agency compliance. It now appears likely that this will happen. Please be advised that the Company's advisors are working to minimize any time away from the bulletin board.
An independent due diligence review of Oxford International has been completed. NICA management is pleased with the results and the acquisition will be completed by 6/30/00. Furthermore, due diligence is continuing on additional announced acquisitions and are targeted for completion in 4 to 6 weeks.
NICA would also like to proudly announce the birth of Kevin Maloney's daughter, born today at 10:55 a.m. The Maloney family is overjoyed and doing well.
NICA is a diversified holding company with various entities to maximize revenues and earnings. The Company welcomes comments and suggestions at corporate@nicoa.com.
Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends, and future operating revenues and expenses. Although the Company believes that the statements are reasonable, it can give no assurance that such expectations will prove to be correct. Investors are cautioned that any forward-looking statements made by the Company, or contained in this profile/research report, contain no guarantee of future performance, and that the actual result may differ materially from those set forth in the forward-looking statements. Difference in results can be caused by various factors including, but not limited to, the Company's ability to be able to successfully complete planned funding agreements, to successfully market its products in competitive industries or to effectively implement its business plan or strategies.
SOURCE: National Institute Companies of America
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund, and Janitor for the Global Morass of Debt Instruments.
