Icon Media Updates Shareholders on Status of Financial Audit and SEC Form 10 Filing
RALEIGH, NC--(Marketwired - May 5, 2016) - Icon Media Holdings, Inc. (
Based on recent communications with the Auditing Firm with regard to the progress of completing the audit of our financial statements for years 2013 and 2014, we can now say that the audit will be completed in approximately two weeks' time. Our next objective is to complete the 2015 auditing statements. Given all the background detail and accounting work that has been done, we don't anticipate this to take a lot of time to be completed.
Rob Deakin, CEO of Icon Media Holdings, Inc., said, "It has been a long and laborious task but the end of the audit is finally within sight. The Form 10 to be filed with the Securities and Exchange Commission (SEC) is complete except for the inclusion of the audited financial statements."
Mr. Deakin added, "ICNM will become a fully reporting Company for the first time since 2003. This represents a huge milestone for our Company and its shareholders. It will add a great deal of value for our Company going forward and will enable us to proceed with our business plan of rolling up accretive acquisitions."
Once audited statements up through 2015 are complete, Icon's SEC Securities Attorneys will file the completed Form-10 with the SEC. Once the SEC declares the Form 10 "effective", ICNM will become a fully reporting Company.
As a fully reporting company, Icon will be in a strong position to start executing on phase two of its Business Plan, as was outlined in the news release on October 29, 2015.
Mr. Deakin concluded his statements by saying, "I want to thank our staff and our management team for their many hours of work to complete this task. As much as anything though, I want to thank our patient shareholders for hanging in there during this long and difficult process. As we move forward, we expect our shareholders to be rewarded through the performance of our Company in business and in the marketplace."
About Icon Media Holdings, Inc. (ICNM)
Icon Media Holdings (
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Forward-Looking Statements & Disclaimers:
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this document, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
Icon Media Holdings, Inc.
Phone: 919.237.5700 ext. 203