Dutch Gold Updates Plan to Return to Full Reporting Status, Address Balance Sheet Issues, Address DTCC Matters
02 April 2014 - 12:00AM
Access Wire
ATLANTA, GA / ACCESSWIRE / April 1, 2014 / Dutch Gold
Resources, Inc. (DGRI.OTC) (the "Company")
(http://dutchgoldinc.com) today announced that it has begun the
process to return to full reporting compliance with the Securities
and Exchange Commission, and to address some of the debt load that
has complicated the Company's ability to fund its'
initiatives.
On the compliance front, the Company has retain accountants to
prepare corporate books and records in order to file current
reports with the SEC. The Company has received multiple
engagement proposals from PCAOB approved auditors and expects to
file an 8K naming its new auditor by April 5, 2014. The
Company expects to be a current filer by the end of this
quarter.
On a separate front, the Company has begun the process of
mitigating its debt structure. Daniel Hollis, CEO of DGRI, said,
"We recognize that need to reduce our debt load, and are reaching
out to our creditors to negotiate settlement agreements. We
have met with some initial success, and are working diligently to
improve our balance sheet this quarter."
Finally, the Company has solicited counsel to address matters
with the DTCC "Chill". DGRI has prepared two four inch binders of
documentation regarding the issuances of its' securities covering
the period during which the "Chill" was instituted to be delivered
again to the DTCC.
Mr. Hollis further commented, "The Company is confident of its
business direction and the initial response from its prospective
customers. We believe that delivering needed services to the
MMJ sector can drive revenue and earnings. That having been
said, management recognizes the need to take the actions announced
today to bolster transparency, and hence liquidity, and to create
the possibility for an up-listing in the future."
Forward-Looking Statements
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by Dutch Gold Resources, Inc. are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
For further information, please see www.DutchGoldInc.com or
please contact Daniel Hollis, CEO of Dutch Gold Resources, Inc. at
404-981-7424.
SOURCE: Dutch Gold Resources, Inc.