Kenwick Industries Inc. Faces Temporary OTCBB Suspension
20 January 2000
Kenwick Industries Inc. Faces Temporary OTCBB Suspension
FORT LAUDERDALE, Fla.--Jan. 19, 2000--Kenwick Industries Inc. (OTCBB:KWIN) President/CEO Ken Wulwick stated today that KWIN will be temporarily suspended from eligibility to have its stock quoted on the OTCBB as of Jan. 20, 2000. Wulwick said: "While we filed the SEC Form 10SB sixty days prior to the compliance date for the company as established by NASD Notice to Member 99-15, the SEC has many Form 10SBs to process and it now appears that KWIN will not receive SEC comments in time to maintain OTCBB eligibility."After Jan. 19, and until Kenwick Industries Inc. returns to the OTCBB under its "KWIN" symbol, investors may continue to trade through their brokers. Brokers will access the electronic version of the Pink Sheets for the last day's trading range and will contact the company's market makers for bid and asked quotations and to execute trades.
In further comments, Wulwick said, "We want to assure our shareholders that we believe our period off the OTCBB will be brief, and that Kenwick will expedite its responses to any comments from the SEC." In addition, Wulwick said, "KWIN will take the steps necessary with its market makers to re-establish its OTCBB listing as soon as it is eligible."
Commenting on KWIN's activities Wulwick said: "We are very excited about the many recent events happening at Kenwick and will continue to keep our shareholders and the public aware of our activities with news and press releases as things happen. Kenwick Industries Inc. continues its focus on increasing shareholder value. We anticipate that the year 2000 will be a banner year for us."
Kenwick Industries is a multi-industry corporation whose core business is automobile sales and financing. Kenwick also manages a language program with distribution to institution and consumers.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Kenwick) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of Kenwick. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and market competition factors.