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Rhino Human Resources Officially Current With Financial Disclosures and Achieving Goals Set Earlier in the Year
Press Release: Rhino Human Resources, Inc. – 1 hour 4 minutes ago
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Rhino Human Resources, Inc.
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HOLBROOK, N.Y, Feb. 21, 2012 /PRNewswire/ -- Rhino Human Resources, Inc. (PinkSheets: IFHR.PK - News), Holbrook, New York, today announced that the company has filed its 2011 annual disclosure, bringing the company current and ready for its auditor to do what's needed to earn fully reporting status with the Security Exchange Commission's (SEC).
Earlier in last year, the company laid out a plan to clean up the entity for merger with a suitable merger candidate. In order to maximize shareholder value, the board of directors wishes to seek candidates with solid revenues and a track record. To achieve that goal, the company would need to be fully reporting with the SEC, and to do this, all four 2011 quarterly filings had to be done, as well as the 2011 annual filing. Every detail including the tiniest of financial transactions would have to be verified and re-constructed going back two years, spanning three CEO's, several business models, and it would have to be done on a shoestring budget.
"We are happy to announce that we have done everything we said we would do," said current CEO Raymond Barton. "It always feels good when you accomplish a seemingly impossible task, but this one is very important to me because there are shareholders depending on it. People who invested in the company long before I came along, and really need some hope in this horrible economy." He continued, "I think I've shown that I am not only serious about making it happen, but that I am capable as well. Now, we can seek a much more valuable candidate, and that translates into higher value for the shareholder. Everybody wins."
Barton says he is proud of everyone involved in the plan's success, but also reminds us that the company will next have to complete a full audit, under the scrutiny of a 3rd party auditing firm. Barton acknowledges that it has taken longer than he would have liked, but he asks that shareholders understand that to do things the right way, it sometimes takes a little longer. No unnecessary delays are expected in the next phase of the company's growth and Barton hopes to have more good news for shareholders within the next 30 days.
