NEW YORK, Aug. 14, 2012 /PRNewswire/ -- Beneficial
Holdings Inc. PINKSHEETS: (BFHJ ) -- Beneficial Holdings Inc.
(BFHJ) today reports that it has completed a preliminary
review of matters, including financial matters and operations. In
addition, it has reviewed its plans for the future and has
determined that it will engage an approved firm to commence a full
and formal audit of its operations. It is anticipated that
completion of such audit will result in any necessary filings with
the Securities and Exchange Commission. The goal of BFHJ is
to become a Fully Reporting Company in compliance with all rules
and regulations of the Securities and Exchange Commission. It is
further anticipated that, subsequent to such event taking place, it
can then proceed forward with its overall business plan, which has
been in the offing for the past several months.
BFHJ apologizes to its shareholders for its lack of frequent
updates. However, new management prefers to avoid errors made by
others in their announcements as to the intentions and products of
their respective companies. Yes, BFHJ's plans and intention involve
creation of value with a significant degree of stability and a
basis upon which it will be poised for significant growth in the
future. In keeping with this, there must be advancement
from its current position in the pink sheet market. Becoming a
Fully Reporting Company, is viewed as a first step in the right
direction and a distinction from a good number of companies in the
same market. A determination to avoid premature statements and
hyperbole is another decision made, with one result being to issue
this press release at the appropriate time, after much
thought and review.
Gregory N. Senkevitch, President
and CEO stated, "The inherent nature of the Company's historic
operations, prior to change in management, has made a review of
matters a bit more complex than originally anticipated. Our efforts
will be to have a clear picture of the Company's recent historical
results provided within a timeline that is reasonable. Since prior
historical results were not audited, on a timely basis, the desired
action and result of (a) undertaking the audit (b)
implementing the necessary measures and (c) changing to a
Fully Reporting Company will take time. However, it is
believed that the resulting new status of the company will provide
for a much better environment within which to proceed forward."
Best regards,
The Management of BFHJ
Forward-Looking Statements
This press release may contain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. As
a general matter, forward-looking statements reflect our current
expectations and projections relating to our financial condition,
results of operations, plans, objectives, future performance and
business. These statements may be identified by the use of
forward-looking terminology such as "may", "will", "expects",
"plans", "estimates", "anticipates", "projects", "intends",
"believes", "outlook" and similar expressions.
The forward-looking statements contained in this press
release are based upon our historical performance, current plans,
estimates, expectations and other factors we believe are
appropriate under the circumstances. The inclusion of this
forward-looking information is inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and
some of which might not even be anticipated. Future events and
actual results, financial and otherwise, may differ materially from
the results discussed in the forward-looking statements. Statements
regarding the following subjects, among others, may be
forward-looking: Our business and investment strategy; our
projected operating results; estimates relating to our ability to
make distributions to our stockholders in the future and economic
trends and economic recoveries.
All information in this release is as of August 15, 2012. The Company does not undertake a
duty to update forward-looking statements, including its projected
operating results. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company may, in its
discretion, provide information in future public announcements
regarding its outlook that may be of interest to the investment
community.
Beneficial Holdings Inc.
646-543-0677 Telephone
SOURCE Beneficial Holdings Inc.
