Question and response from IR that answered my question I posted earlier.
Good Morning,
I have been a BFHJ shareholder for the past 14 months awaiting some sort of clarification to the happenings behind the scenes and it seems we finally have some. I appreciate the fact that the company has come forward and released true auditted financials. The question I have for the company is as follows:
The company has released auditted financials via a PR that shows no profit for years ending 2011 and 2012 which is contrary to previous managements claims that there were significant profits made year ending 2011. It is very admirable and shows good transparency that this information was released and released correctly, but now that this has been released why has the company not updated the OTCmarkets.com listing with this information to get rid of the dreaded stop sign? I would think since the company has broken the bad news that previous management had deceived shareholders, I would think it would at least want to do anything positive as a result of these auditted financials and ridding itself of the stop sign would be a positive to most shareholders.
Thank you for your time and I look forward to your response.
A: The Company's management is evaluating its position regarding Pinksheets/OTCMarkets and remaining a non-reporting "Pink Sheets" listed company. Consideration is being given to the longer range prospects for the Company, which are not served by maintaining the status quo; which is highly unlikely to be maintained for much longer, although we will not speculate as to timing right now.
Pinksheets/OTCMarkets.com will not post financial statements unless: 1) They are filed on the appropriate EDGAR form as proscribed by the SEC for fully-reporting companies (which BFHJ has never been); OR 2) the Company pays what the Company believes currently is about $4,500 per year in effect to "PROMOTE" our own financial statements on OTCMarkets.com. You should know that other statistical services, such as Yahoo.com/Financial) DO list financial statements for BFHJ. The latter was the approach taken by the previous management, and we don’t feel garnered any appreciable benefits to the Company. Money can best be spent elsewhere since financials are disclosed by news releases which ARE listed by Pinksheets/OTC Markets and on our own website concurrent with disclosure.
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Remember that “Stop” doesn’t mean a “stop trade”. The real danger is to be labeled a “Grey Market” company. We feel that by timely disclosure by news releases and by publishing on our website, we will avoid this label.
At the appropriate time, with a designated purpose and set of tactics, the Company intends to make the applicable SEC filing(s) and resolve the inherent issues in share structure, trading market and market sponsorship necessary to upgrade its trading status.
AI
