Sunergy Reports Progress to Date on Filings and Provides Guidance for Filing Form 10K for December 31, 2010 and First 2 Form 10Qs for 2011 with SEC to Satisfy Filing Compliance
Press Release Source: Sunergy Inc. On Wednesday August 3, 2011, 7:23 am EDT
SCOTTSDALE, AZ--(Marketwire - 08/03/2011) - Sunergy, Inc (the
- News) is pleased to report the progress to date on its financial filings and guidance for its remaining filings.
Mark Shelley, Director, Treasurer and Chairman of Sunergy's Audit Committee said, "We have made a concerted effort to get our filings up to date. During the past 2 and 1/2 months we have hired a new accounting officer, transferred our audit to a larger audit firm, produced the 10K for 12/31/09 and the three 10Qs for 2010, 3/31/10 06/30/10 and 09/30/10 and begun the 12/31/10 audit in preparation for the 10K filing and also redone our entire accounting system. The audit and 10K for 12/31/10 will require more work due to the requirement that Allied be audited from inception to date with its Sierra Leone activities. We are not committing to any timelines for the 10K filing because often confirmations and correspondence required by the auditors takes extra time which is beyond our control. We have, however, added extra manpower at every level to insure the most expeditious result possible. The 10Qs for 2011 are reviewed items and will follow the 10K."
Further information on 2011 operations on the Company's projects and prospects in Ghana and Sierra Leone will be forthcoming.
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.