News: BWI Holdings, Inc. to Bring SEC Reporting Current
CALGARY, AB -- (Marketwire) -- 01/26/10 --
BWI Holdings, Inc. (PINKSHEETS: BWIH) announces that, after the anticipated approval by the creditors of Budget Waste, Inc., the Company's wholly owned subsidiary in Calgary, Alberta, Canada ("Budget Alberta"), of the Plan of Arrangement at the end of January 2010, and the approval by the Court of the Plan of Arrangement, the Company intends promptly thereafter to complete all delinquent audits and make all appropriate filings with the U.S. Securities and Exchange Commission to become current with its reporting requirements under the Securities Exchange Act of 1934
As previously announced, the Company became delinquent in its SEC reporting obligations in 2009 due to the financial struggles of Budget Alberta, its subsequent filing for protection from creditors under CCAA, and the Company's inability to fund the costs associated with audits at that time
Budget Waste, Inc. is a waste solutions company in Western Canada providing complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield and residential clients. With our broad range of innovative services we offer our customers more value for their dollar and reduce accounting costs by providing streamlined billing.
BWI is currently following its growth through acquisition strategy with exceptional success. With regulations throughout North America pressing companies and individuals to be more vigilant in the way they handle their waste products we see vast opportunity for expansion of our distinctive services. We are confident that extraordinary growth and focus on customer needs will bring our stockholders outstanding value for the confidence they have placed in BWI.
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