Ise Blu Equity Corp. Discusses Trading Suspension
April 29 2008 - 10:05AM
Marketwired
ORLANDO, FL As many shareholders are aware the United States
Securities and Exchange Commission commenced the suspension of
trading of company shares on April 21, 2008 because of non-filing
of 1934 act reports such as 10Q and 10K statements, for a period of
10 years, beginning in 1998. The Securities and Exchange Commission
claims to have notified the company of this matter by sending
notice to an address in Iowa at which the company has not operated
since 1998.
Current corporate management was unaware of this matter and does
not believe it is possible to meet the requirements of the
Securities and Exchange Commission to being the company current for
its previous 10 years of filings. One of the main reasons is that
there have been several operating companies who transitioned in and
out, none of whose management we have been able to contact in the
past week.
The company will begin trading as a grey market company on May
2, 2008.
Management is exploring its options through its legal counsel.
These options include filing a new form 15c211 with audited
financial statements which is difficult because it requires the
first quarter 2006 information from the predecessor Chinese
operation Net Cert, Inc. which has been unavailable. Other options
include selling Ise Blu to another public company and registering
the shares to be received by current ISBL shareholders, waiting
until the company can complete a 2007 and 2008 audit, and then
filing a form 15c211 or taking one of the subsidiaries public for
the current shareholders benefit.
You will be kept informed as we progress towards these
decisions. Be assured we are actively seeking solutions.
We certainly apologize for any difficulty this presents our
shareholders and we would have taken the opportunity to rectify the
situation had we known it existed in the first place.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained in this release that
are not historical, are forward-looking statements that are subject
to risks and uncertainties that could cause results to differ
materially from those expressed in the forward-looking statements,
including but not limited to certain delays and risks detailed from
time to time in the company's filings with the Securities and
Exchange Commission.
Contact: Ise Blu Equity Corp. Email Contact 407-641-9705
Ise Blu Equity (CE) (USOTC:ISBL)
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