July 13, 1999 13:24
Auxer Group Prepares For Filing Of Form 10-SB
WAYNE, NJ--(BUSINESS WIRE)--July 13, 1999--The Auxer Group, Inc. (OTC
BB: AXGI) announced today that it has been in the process of preparing to file
its Form 10-SB with the Securities and Exchange Commission (SEC) and
intends to file in time to be effective for the fall.
Mr. Eugene Chiaramonte, Chairman of The Auxer Group, stated, "Our
accountants and securities counsel has been vigorously preparing the
documentation necessary to submit to the SEC. We anticipate being
completed with the documentation shortly and filing in time to be effective this
fall. We are taking these steps on behalf of the stockholders to ensure The
Auxer Group continues to remain eligible for listing on the OTC Bulletin Board
under the new eligibility rules of the National Association of Securities Dealers.
This is an exciting time for us as we formally recognize that the company has
grown and developed to the point where we qualify for reporting status with the
Securities and Exchange Commission. I believe the process of becoming a
reporting company demonstrates this company's accomplishments over the
past couple years as a young development stage company and signifies a shift
in focus to a growth and revenue producing entity. The management team at
Auxer believes we have a strong future ahead of us as we enter this new
phase."
ABOUT THE COMPANY
The Auxer Group, Inc. (OTC-BB "AXGI") is an investment holding company
that is comprised of three wholly-owned subsidiaries: Harvey Westbury
Corporation, CT Industries and Hardyston Distributors. Auxer Group is a
manufacturer, wholesaler and distributor of automotive, marine and aviation
after-market and hardware products. These products are currently sold to
major retail chains around the country including, PEP BOYS, MANNY, MO
and JACK, CARQUEST, PARTS AMERICA (WESTERN AUTO), WAL MART,
KMART, WEST MARINE just to name a few. The Auxer Groups' most well
known products include Easy Test Testers and Air Conditioning Accessories,
GARRY'S ROYAL SATIN WAX AND POLISHES (a 70 year old superior car
and marine wax line), FORMULA 2000 ULTIMATE (A high performance engine
treatment).
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties, including, without limitation, continued acceptance of the
company's products, competition, new products and technological changes,
intellectual property rights and other risks.
For more information please visit our websites at www.auxer.com
CONTACT: The Auxer Group, Wayne
Patrick M. Rost, 760/942-0015
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