Alaska Pacific Energy Explores Upgrading to an OTCQB
05 Fevereiro 2013 - 2:19PM
OTC Markets
Alaska Pacific Energy Explores Upgrading to an OTCQB
Miami Fl. February 5, 2013. Alaska Pacific Energy Corp.
(PINKSHEETS: ASKE) announced today that it has begun seriously
exploring whether or not it makes sense to become a reporting
company again. Just last week the company completed all the
necessary tasks to once again regain its status of “OTC Pink
Current Information” on the OTC Market. “Now it just makes sense
for us to determine whether continuing the remediation of the
company’s OTC status back to the QB.” Said company President,
Dominick Falso.
As an “OTC Pink Current Information” company, the company is
required to post quarterly and annual financial and disclosure
reports on the OTC Markets site. This information is then available
for the public (investors) to examine. As an OTCQB company, the
company is required to have its financial reports audited by a
Public Company Accounting Oversight Board Accounting Firm (PCAOB).
These financial reports as well as disclosure and other reports are
filed with the Securities Exchange Commission. http://www.otcmarkets.com/companies-advisors/otcqb
.
There are pros and cons that need to be considered. Many companies
have voluntarily downgraded to save the money they were spending to
maintain transparency. On the other hand there are benefits that
many industry experts believe outweigh or at least justify the
expense of reporting to a U.S. Regulator such as the SEC. Not the
least of which is that a reporting company has more funding options
available to it than a non-reporting company; options that could
have a positive effect on shareholder value.
“There is additional expense in becoming and maintaining QB
ranking” said Mr. Falso, “but the expense is by many accounts worth
the price…a good value. I had a fact finding discussion with a
principal at one of the top 15 SEC Audit Firms in the country
yesterday. It appears that the return to a reporting status is
within our reach.”
In July of 2011, the
company filed a form 15 with the SEC, voluntarily becoming delisted
from the QB. In order to become upgraded back to the QB the company
will have to undergo an audit of its last two years books and
records. “It appears that we have all the required documents from
the past two years…next I will be discussing this option with a
special outside SEC Attorney. We should be able to make this
decision within the next 2-3 weeks. As I have said in the past, I
am not trying to create excitement, although I am excited about
this. I am simply trying to keep our stockholder base informed…I
will keep you posted”
Safe Harbor Statement: This release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934 that are based upon assumptions that in the future may
prove not to have been accurate and are subject to significant
risks and uncertainties, including statements as to the future
performance of the company and the risks and uncertainties detailed
from time to time in reports filed by the company with the
Securities and Exchange Commission. Although the company believes
that the expectations reflected in its forward-looking statements
are reasonable, it can give no assurance that such expectations or
any of its forward-looking statements will prove to be correct.
Factors that could cause results to differ include, but are not
limited to, the company’s ability to raise necessary financing,
retention of key personnel, timely delivery of inventory from the
company’s contract manufacturers, timely product development,
product acceptance, and the impact of competitive services and
products, in addition to general economic risks and
uncertainties.
CONTACT: Alaska Pacific Energy Corp.
Dominick Falso, President (954) 793-0657
www.alaskapacificenergy.com
info@Alasksapacificenergy.com
Alaska Pacific Energy (CE) (USOTC:ASKE)
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