Alliance eager to provide documentation to answer SEC inquiry.BAKERSFIELD, Calif.--(BUSINESS WIRE)--Nov. 26, 1996--Alliance Industries (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ALIDA), subject of an inquiry and 10-day suspension of trading by the Securities and Exchange Commission, announced it was "eager to answer any and all questions and provide whatever documentation necessary to satisfy the SEC's inquiry." The SEC stated in its news release on Tuesday, Alliance Industries' trading was being suspended sus·pend v. sus·pend·ed, sus·pend·ing, sus·pends v.tr. 1. To bar for a period from a privilege, office, or position, usually as a punishment: suspend a student from school. for 10 days due to "a lack of adequate and accurate information about the company's financial projections available through its Internet home page." "The phenomenal success of our company this year has obviously sparked the inquiry," said Donald Baillargeon, vice president of corporate development. "For the SEC to say there is a `lack of adequate and accurate information' amazes the company. Our earnings model, which we have published in our promotional materials and on the Internet, is based on extremely accurate, yet conservative projections. Given the incredible earnings potential of our Paulownia pau·low·ni·a n. Any of several Chinese deciduous trees of the genus Paulownia, having large, heart-shaped, opposite leaves and pyramidal panicles of purplish or white flowers with a spotted interior. Also called princess tree. Tree plantations PLANTATIONS. Colonies, (q.v.) dependencies. (q.v.) 1 Bl. Com. 107. In England, this word, as it is used in St. 12, II. c. 18, is never applied to, any of the British dominions in Europe, but only to the colonies in the West Indies and America. 1 Marsh. Ins, B. 1, c. 3, Sec. 2, page 64. , even being conservative can provide numbers which are exhilarating ex·hil·a·rat·ing adj. Causing exhilaration; invigorating. ex·hil  a·rat ."
Alliance, through its subsidiary, Carolina Pacific International Inc., is in the business of developing and managing tree plantations of the fast-growing Paulownia hardwood hardwood: see wood. hardwood Timber obtained from broad-leaved, flower-bearing trees. Hardwood trees are deciduous trees, except in the warmest regions. for lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to production. "The data to back up those numbers," Baillargeon continued, "is and has always been available to anyone who may wish to review it. The Internet site was designed to be quick and easy to read and to stimulate requests for additional documentation." Baillargeon added he thought the result of the inquiry would be equal to a "seal of approval" from the SEC and provide the company with an added measure of credibility to its operations and future. CONTACT: Alliance Industries, Bakersfield Donald A. Baillargeon, 805/637-1000 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion