Bexil Corporation Announces Plan Developments for Late 10-KSB and 10-QSB Filings.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Bexil Corporation (AMEX AMEX See: American Stock Exchange : BXL BXL Bruxelles (French: Brussels, Belgium) ) announced today that the filing of its annual report on Form 10-KSB for the year ended December 31, 2004 had been further delayed and that it anticipated filing the report by June 15, 2005. The Company stated that the further delay was attributable to the time necessary to make an accounting presentation of the Company's conversion from an investment company to an operating company operating company A business that engages in transactions with outsiders. . Bexil also announced that its plan of compliance submitted to the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , advising the Exchange of action it has taken, or will take, that would bring Bexil into compliance by no later than June 15, 2005 with its obligation to file a Form 10-KSB for the fiscal year ended December 31, 2004, was accepted. Bexil will remain listed during the plan period, during which time it will be subject to periodic review to determine whether it is making progress consistent with the plan. Accordingly, although the Company is not in compliance with the continued listing standards of the American Stock Exchange, its listing is being continued pursuant to an extension. The Company further announced that it had violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. the Exchange's continued listing standards and its listing agreement because the Company has not yet filed its quarterly report on Form 10-QSB for the period ended March 31, 2005. The Company stated that it had been advised by the Exchange that in order to maintain its Amex listing, the Company must submit a plan by June 8, 2005, advising the Exchange of action it has taken, or will take, that would bring the Company into compliance with the requirement to file its Form 10-QSB for the quarter ended March 31, 2005 by no later than July 11, 2005. More information about Bexil may be found at its web site http://www.bexil.com. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. and similar expressions that reflect Bexil's current expectations about its future performance, and are subject to risks, uncertainties and other factors that could cause Bexil's actual performance to differ materially from those expressed in, or implied by, these forward-looking statements. |
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