Sunergy Files Form NT With the SEC for Extension of 15 Calendar Days to File 2010 10K and Dredges and Operating Equipment Are Mobilized to the Site to Commence Operations
Press Release Source: Sunergy Inc. On Wednesday March 31, 2011, 7:33 am EST
SCOTTSDALE, AZ--(Marketwire - 03/31/2011) - Sunergy, Inc (the
- News) today announces that it is filing a Form NT for extension for filing its 2010 Form 10K, which states as follows:
The Registrant is unable to file, without unreasonable effort and expense, its Form 10-K Annual Report for the year ended December 31, 2010 because the Registrant's auditor(s) has not completed their review of the Form 10-K. It is anticipated that the Form 10-K Annual Report, along with the audited financial statements, will be filed on or before the 15th calendar day following the prescribed due date of the Registrant's Form 10-K.
The primary reason for the delay is the finalization of the prior audit period ending December 31, 2009 which requires the previous company auditor and the Company's new auditor to reconcile the prior audit (2008) with the current audit period (2009). Both auditors and the Company's lawyers have been busy with completing 10K's and audits for other reporting Companies that have the March 31 filing deadline. The 2009 audit dictates every other number going forward and must be finalized before the following periods can be finalized and filed. The Company is confident that all reports will be filed in the next 15 calendar days.
The reports contain the 2009 10K and 2010 10Q's for quarters 1, 2 and 3 and the 10K for 2010. Once signed off by the Company's Auditors and filed and accepted with the SEC, the Company will have fully satisfied its reporting requirements and the Caveat Emptor status should be removed. Once all filings are complete, the Company intends to re-apply to re-list on the OTCBB and is committed to maintaining a fully reporting status to insure a higher level of transparency.
The dredges and operating equipment are mobilized to the site preparing to commence dredge operations. The Company has also secured a compound in Freetown where the recovered materials will be transported from the field operations, stored and processed for gold and diamond separation prior to shipping the Rare Earth Elements. Operations should get underway in the next 2 weeks.
The Company urges investors to visit www.sunergygold.com to study the Projects, Corporate Reports and any other due diligence they require before investing in the Company's stock. An informative Dredge video is also available on the site. Investors are also cautioned that message boards are not places that have any official corporate information and should not be relied upon as a source of due diligence, but rather are places where opinions, often colored with agendas, are published.
About Sunergy: The Company is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. We control 100% of the 150 SQ. Km. Nyinahin mining concession with a full prospecting license in Ghana, West Africa and the 140.1 sq. km. Pampana River Rare Earth, Gold and Diamond concession in Sierra Leone, West Africa. We are focused on near term production of these properties this season. We are production and acquisition oriented and are considering several additional projects suitable for near term production in West Africa.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Nyinahin and Pampana Mining Concessions.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.