Dutch Gold Updates Plan to Return to Full Reporting Status, Address Balance Sheet Issues, Address DTCC Mattersadmin
ATLANTA, GA / ACCESSWIRE / April 1, 2014 / Dutch Gold Resources, Inc. (DGRI.OTC) (the “Company”) (http://dutchgoldinc.com) today announced that it has begun the process to return to full reporting compliance with the Securities and Exchange Commission, and to address some of the debt load that has complicated the Company’s ability to fund its’ initiatives.
On the compliance front, the Company has retain accountants to prepare corporate books and records in order to file current reports with the SEC. The Company has received multiple engagement proposals from PCAOB approved auditors and expects to file an 8K naming its new auditor by April 5, 2014. The Company expects to be a current filer by the end of this quarter.
On a separate front, the Company has begun the process of mitigating its debt structure. Daniel Hollis, CEO of DGRI, said, “We recognize that need to reduce our debt load, and are reaching out to our creditors to negotiate settlement agreements. We have met with some initial success, and are working diligently to improve our balance sheet this quarter.”
Finally, the Company has solicited counsel to address matters with the DTCC “Chill”. DGRI has prepared two four inch binders of documentation regarding the issuances of its’ securities covering the period during which the “Chill” was instituted to be delivered again to the DTCC.
Mr. Hollis further commented, “The Company is confident of its business direction and the initial response from its prospective customers. We believe that delivering needed services to the MMJ sector can drive revenue and earnings. That having been said, management recognizes the need to take the actions announced today to bolster transparency, and hence liquidity, and to create the possibility for an up-listing in the future.”
This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Dutch Gold Resources, Inc. are “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. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company’s expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
For further information, please see www.DutchGoldInc.com or please contact Daniel Hollis, CEO of Dutch Gold Resources, Inc. at 404-981-7424.
SOURCE: Dutch Gold Resources, Inc.
Posted: April 1st, 2014 under ACCESSWIRE.