Sunergy Updates Timing for Filing Form 10K for December 31, 2010 and First 2 Form 10 Q's for 2011 With SEC to Satisfy Filing ...
October 04 2011 - 7:37AM
Marketwired
Sunergy, Inc (the "Company") (PINKSHEETS: SNEY) is pleased to
report that we completed the filing of the form 10-Q financials for
the first three quarters of 2010 with the SEC on July 19, 2011. The
field work is now completed for the financial statements included
in the 10-K. They are in review and should be completed and filed
shortly. After the year end 12-31-2010 is filed, the two 10-Q's for
2011 will follow in a reasonable time frame. Once these filings are
complete, the Company will be fully compliant with the SEC and will
qualify to have the Caveat Emptor removed with Pink Sheets.
The Company's auditors are currently working on finalizing our
10K for December 31, 2010 for filing. This audit period includes
the audit for Allied Mining and Supply, LLC, our wholly owned
subsidiary. The current valuation of the Allied acquisition
required Allied to be audited independently from inception to date,
rather than just since its acquisition by Sunergy in October 2010.
This has added additional time and cost to the finalization of our
December 31, 2010 10K.
Chairman, P.K. Medhi, said: "Management is pleased that this
task of catching up the financials is entering its final phase. We
have implemented changes and systems that should enable us to
comply with our ongoing reporting requirements without fail. We
remain committed to up-listing our Company at the earliest possible
opportunity once full compliance is attained."
About Sunergy: The Company is an aggressive junior mining
exploration and development Company that is production oriented at
the earliest possible profitable opportunity. We control 100% of
the 150 SQ. Km. Nyinahin mining concession with a full prospecting
license in Ghana, West Africa and the 140.1 sq. km. Pampana River
Rare Earth, Gold and Diamond concession in Sierra Leone, West
Africa. We are focused on near term production of these properties
this season. We are production and acquisition oriented and are
considering several additional projects suitable for near term
production in West Africa.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including but not limited to, any mineralization, development or
exploration of the Nyinahin and Pampana Mining Concessions.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of metals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
Contact: Bryan Miller President 707.738.4280
bryan@alliedminingandsupply.com Sunergy Inc. 14362 N. FRANK
LLOYD WRIGHT BLVD SCOTTSDALE AZ 85260 Phone: 480.477.5810 Fax:
480.477.5811 Investor Relations: Steve Parent 480.326.5435
steve@sunergygold.com