News relaese out on MDCE ... Steps of full reporting company.
Wednesday December 10, 2:37 pm Eastern Time
Company Press Release
SOURCE: Media Concepts, Inc.
Media Concepts, Inc. Announces Completion of 10K and Reevaluation of Company
PALM SPRINGS, Calif., Dec. 10 /PRNewswire/ -- Media Concepts, Inc. (OTC Bulletin Board: MDCE - news) announces Grossman and Company, CPA, PC, has completed the 10K for year end 1996, and will file the report with the proper regulatory agencies next week.
The 10K, completed under GAP accounting procedures, reflects an asset value of 35 million dollars on 3.7 million shares, instead of the 2.3 million dollars originally stated.
Robert Torres, CFO, states, ''The original valuation did not include several assets in the Company, including the Taylor Caldwell Works and Mindware, Inc. Additionally, other assets were improperly valuated under ''GAP'' accounting procedures. This now reflects a proper assessment for investors, and gets Media Concepts, Inc. the first step in becoming a fully reporting company.
Grossman & Company will now move forward with completing the 10Q's for the Company. The 10K data will be released in the very near future.
SOURCE: Media Concepts, Inc. |
