Cenuco, Inc. (AMEX:ICU) announced today that it has advised the American Stock Exchange that Cenuco has made, and continues to make, excellent progress toward fulfillment of the plan previously filed with the Amex to bring the company into compliance with the Amex listing standards. Cenuco advised the Amex that in view of a significant potential transaction that may be consummated within the next week, Cenuco, with the concurrence of its independent auditors, BDO Seidman, LLP, has concluded that it would be advisable to delay the filing of the pending Quarterly Report on Form 10-Q (the "Form 10-Q") until the end of next week. Cenuco announced that it is presently in discussions to finalize an acquisition agreement that, if consummated, would be Cenuco's first significant strategic transaction. This potential transaction, if consummated, would provide the Company with named brands that are projected to significantly increase annual revenues and could realize significant additional earnings. Agreements for the financing for this potential transaction are being negotiated as well. Cenuco stated that negotiations of the potential acquisition and the financing are continuing and there can be no assurance that any transaction will be consummated or if consummated, the terms of any such transaction. Given the significance of the proposed acquisition and financing, assuming that the transaction is consummated, management of the Company believes the disclosures on the Form 10-Q would be more meaningful with the addition of information finalized at the closing of this transaction. Cenuco's auditors concur with this assessment. Cenuco requested and received a one week extension for the filing of the Form 10-Q. About Lander Lander, the health and beauty care division of the Company is a manufacturer, marketer and distributor of a leading value brand (LANDER) health and beauty care products. The Company also produces private label brands for a limited number of top retailers through its Canadian facility. Lander is a leader in the rapidly growing marketplace for value health and beauty care (HBC) products - sold in dollar store and value focused retailers such as Wal-Mart and Kmart. http://www.lander-hba.com The Lander brand is recognized as the largest specialty bath brand as reported in 2004 by Information Resources, Inc. (IRI), a global provider of market content and business performance management within consumer goods and retail industries. The company is headquartered in Lawrenceville, New Jersey. The company operates two manufacturing and distribution facilities, one in Binghamton, New York and the other in Toronto, Canada. About Cenuco Cenuco, the wireless technology division of the Company develops wireless and internet based software solutions for transmitting live streaming video, and other targeted content, directly onto cellular phones and remote computers. The Company's technology has applications in a variety of markets. The Company's wireless data technology is primarily focused on wireless video monitoring solutions that allow users to view real-time streaming video of security cameras or video content feeds at their home or place of business from anywhere they receive a cellular connection, regardless of the cellular carrier, user's location, or type of cellular phone or wireless device. Visit http://www.cenuco.com for additional information. Certain statements contained herein, including statements may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, 21E of the Exchange Act of 1934 and/or the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, statements regarding a potential acquisition, projected revenues and earnings, business plans, future regulatory environment and approval and, the Company's ability to comply with the rules and policies of independent regulatory agencies. Although the Company believes the statements contained herein to be accurate as of the date they were made, it can give no assurance that such expectations will prove to be correct. The Company undertakes no obligation to update these forward-looking statements.
Cenuco (AMEX:ICU)
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