International Consolidated, Inc. Increases Transparency and Advances a Tier on OTC Markets
September 30 2011 - 1:47PM
Marketwired
International Consolidated, Inc. (PINKSHEETS:
INCC) -- International Consolidated, Inc. announces today that it
has fulfilled the requirements of OTC Markets pursuant to the
Alternative Reporting Standards in order to move up to the Limited
Information Tier. Further, the Company will pursue continued
efforts with OTC Markets to procure status with OTC Markets in the
near term to OTC Pink Current as required with continued reporting
requirements as provided in the Alternative Reporting Standards.
In addition, the Company has initiated an agreement in principal
with an experienced New York City based consulting firm to update
the Company's financial reporting in accordance with the Generally
Accepted Accounting Principles (GAAP). Financial information on the
Company is now available on www.otcmarkets.com.
OTC Markets has implemented a strict information reporting
system for non-reporting companies and categorizes them in
accordance to transparency elements from Caveat Emptor to Current
Information for OTC Markets companies. The Company is making
progress towards complying with the Alternative Reporting
Standards, and anticipates receiving acceptance to "OTC Pink
Current." International Consolidated, Inc. President Antonio F.
Uccello III says of the recent changes, "We're very excited to
provide a better window into the Company's marketability and
transparency in the marketplace. The insight is fundamental to our
code, and it is what our shareholders expect." OTC Markets report
average yearly volume for limited information companies at nearly
25 times more than that of other companies at lower tiers or
reduced levels of transparency.
Safe Harbor Statement: This press release
contains forward-looking statements as defined in The Private
Securities Litigation Reform Act of 1995 (the "Act"). In
particular, when used in the preceding discussion, the words
"plan," "confident that," "believe," "scheduled," "expect," or
"intend to," and similar conditional expressions are intended to
identify forward-looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Such
statements are subject to certain risks and uncertainties, and
actual results may differ materially from those expressed in any
forward-looking statement. Such risks and uncertainties include,
but are not limited to, the ability of International Consolidated,
Inc. to complete the proposed submission(s), the results of
International Consolidated, Inc. ability to produce financial
statements in accordance to GAAP, the success of the business,
including the ability of International Consolidated, Inc. to
continue to sell the applicable products and the acceptance of any
newly designed products by the market, market conditions, the
general acceptance of the Company's products and technologies,
competitive factors, timing, and other risks described in the
Company's SEC reports and filings or filings which are accepted
under the Alternative Reporting Standards.
Media & Investor Relations: Alex Livak Tel:
917-239-6800 Email: info@iccina.com http://www.iccina.com
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