DON'S BIG DAY->Alliance Industries stock-trading halt lifted Dec. 10; preparing 15c2-11's for market makers
Business Wire, Dec 26, 1996
BAKERSFIELD, Calif.--(BUSINESS WIRE)--Dec. 26, 1996--Alliance Industries (OTC/BB:ALIDA), subject of a recent inquiry and 10-day halt on trading by the Securities and Exchange Commission, announced that the trading halt was lifted ``on schedule'' Dec. 10, at midnight EST.
``We provided to the SEC the documentation to support our financial position as well as our earnings and sales projections,'' said Donald A. Baillargeon, vice president of corporate development. The company is providing to the Securities and Exchange Commission documents and responses to the questions raised that resulted in the 10-day trading halt.
``The 250-page Alliance Industries business plan describes the company's aspirations of success for the next 10 years,'' Baillargeon added. ``Our Paulownia Tree plantation development has the potential, if successful, to alter the manner in which lumber is produced.''
Alliance, through its subsidiary, Carolina Pacific International Inc., is in the business of developing and managing tree plantations of the fast-growing Paulownia hardwood for lumber production.
The company is currently in the process of preparing 15c2-11 forms so market makers can file them and resume making market in Alliance stock, which closed on its last trading date at $17 bid, $22 ask.
``1997 is shaping up to be an exciting year,'' said Baillargeon. ``We will be harvesting Paulownia timber next year from which model homes will be built. Shareholder response has been overwhelmingly positive,'' said Baillargeon. ``Many people have called wanting to know when public trading would begin again, so they can acquire shares.''
CONTACT: Alliance Industries, Bakersfield
Donald A. Baillargeon, 805/637-1000
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