Daleco Resources Corporation Identifies Unauthorized Listing on German Exchange.Business Editors WEST CHESTER West Chester, borough (1990 pop. 18,041), seat of Chester co., SE Pa., W of Philadelphia; inc. 1799. Primarily residential, West Chester was long the trade and processing center for an agricultural region that is now mainly suburbs. , Pa.--(BUSINESS WIRE)--May 19, 2004 Daleco Resources Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DLOV) Gary Novinskie, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Daleco Resources Corporation ("Daleco"), reported today that Daleco has been made aware that an unauthorized listing of its common stock on the Berlin-Bremen Boerse (stock exchange) in Germany has occurred. Mr. Novinskie noted that the unregulated nature of this exchange raises concerns that the Company's securities may be targeted for potential manipulation. The Company's preliminary investigation indicates that other US companies have been subjected to similar questionable practices. Mr. Novinskie stated that the Company has commenced an inquiry to identify the primary source of the unauthorized listing and has taken steps to address and correct the situation. These steps include but are not limited to notification to both the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on and SEC of the unauthorized listing, notification to the Berlin-Bremen Boerse to remove the Daleco listing from the exchange and halting all trading in Daleco shares, and an investigation to determine whether such unauthorized actions violated the securities law of the United States The law of the United States was originally largely derived from the common law of the system of English law, which was in force at the time of the Revolutionary War. However, the supreme law of the land is the United States Constitution and, under the Constitution's Supremacy and Germany. Pending the outcome of its initial efforts the Company may seek legal action against the parties deemed responsible for the unauthorized listing. Daleco Resources is an international asset and technology aggregation and monetization company with operating subsidiaries active in oil and gas, timber, minerals, environmental remediation Generally, remediation means providing a remedy, so environmental remediation deals with the removal of pollution or contaminants from environmental media such as soil, groundwater, sediment, or surface water for the general protection of human health and the environment or from a and technology. The Company has holdings in the States of Alabama, New Mexico, Oklahoma, Pennsylvania, Texas, Utah and West Virginia and in Guyana, South America. Safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings. |
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