Alliance eager to provide documentation to answer SEC inquiry
Business Wire, Nov 26, 1996
Save a personal copy of this article and quickly find it again with Furl.net. Get started now. (It's free.)BAKERSFIELD, Calif.--(BUSINESS WIRE)--Nov. 26, 1996--Alliance Industries (OTC BB:ALIDA), subject of an inquiry and 10-day suspension of trading by the Securities and Exchange Commission, announced it was "eager to answer any and all questions and provide whatever documentation necessary to satisfy the SEC's inquiry."
The SEC stated in its news release on Tuesday, Alliance Industries' trading was being suspended for 10 days due to "a lack of adequate and accurate information about the company's financial projections available through its Internet home page."
"The phenomenal success of our company this year has obviously sparked the inquiry," said Donald Baillargeon, vice president of corporate development.
"For the SEC to say there is a `lack of adequate and accurate information' amazes the company. Our earnings model, which we have published in our promotional materials and on the Internet, is based on extremely accurate, yet conservative projections. Given the incredible earnings potential of our Paulownia Tree plantations, even being conservative can provide numbers which are exhilarating."
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 data to back up those numbers," Baillargeon continued, "is and has always been available to anyone who may wish to review it. The Internet site was designed to be quick and easy to read and to stimulate requests for additional documentation."
Baillargeon added he thought the result of the inquiry would be equal to a "seal of approval" from the SEC and provide the company with an added measure of credibility to its operations and future.
CONTACT: Alliance Industries, Bakersfield
Donald A. Baillargeon, 805/637-1000
COPYRIGHT 1996 Business Wire
COPYRIGHT 2004 Gale Group
Furl it Print Send Subscribe |
