The Auxer Group's Form 10-SB Is Cleared of SEC Comments
16 May 2000
The Auxer Group's Form 10-SB Is Cleared of SEC Comments
WEST PATERSON, N.J.--May 12, 2000--The Auxer Group, Inc. (OTC: AXGI) announced today that The Auxer Group's Form 10-SB has been cleared of further comments from the United States Securities and Exchange Commission (SEC). The Auxer Group is working with broker-dealers currently making a market in the company's stock to submit a Form 211 Addendum and 15c2-11 Exemption Request Form- "Piggyback Exception" with the NASD, OTCBB (Over-The-Counter Bulletin Board) Compliance Unit. This process will allow Auxer to resume trading on the Over-The-Counter Bulletin Board when completed. Auxer qualifies for the Rule 15c2-11 Exemption which exempts the Company from the requirement of filing a Form 211 when moving from another quotation medium into the OTCBB. By qualifying for the exemption, the Company will not be subject to the normal Form 211 review requirements and expects to resume trading on the OCTBB as expeditiously as possible. The Company expects to announce the formal date to resume trading next week."This is the end of a long process for the company and the beginning of a new chapter. I want to thank all the people who helped us successfully complete this process as well as all the investors and supporters who believe in this company and allowed us to continue to grow, develop and move our plans forward during the last two quarters. I believe this company has reached a new beginning. I intend to utilize this positive event as a foundation to aggressively pursue additional investment opportunities. By completing the process of registering for reporting status with the Securities & Exchange Commission, our company has reached a significant milestone. While this achievement was all consuming and difficult, it will benefit our investors with better information and provide the ability to make a more informed investment decision. I believe this accomplishment distinguishes Auxer, while at the same time, demonstrates a higher level of commitment to our investors," said Eugene Chiaramonte, Chairman.