USCorp Files Fiscal 2012 Annual and 2013 First Quarter Reports
LAS VEGAS--(BUSINESS WIRE)-- USCorp (OTCMarkets: USCS.PK) today announced that it has filed its fiscal 2012 Annual Report and its fiscal 2013 First Quarter report with the SEC. USCorp believes this will make USMetals, Inc., and Southwest Resource Development, Inc., more attractive to potential merger, acquisition and/or joint-venture opportunities. These reports can be viewed at the Company's website at http://uscorpgold.com/financial-reporting/.
Robert Dultz, USCorp Chairman and CEO, said, "As we complete preparations for the spinoff of our two wholly owned subsidiaries, USMetals, Inc., and Southwest Resource Development, Inc., to our shareholders, we have been separating out the accounting for each corporation. In order for our subsidiaries to start debt free, USCorp has accepted a minority ownership position, less than 20%, in each corporation as payment in full for prior expenditures by USCorp on behalf of its subsidiaries."
Mr. Dultz continued, "We are current in our reporting to the Securities and Exchange Commission ('SEC'). In addition to filing our 2012 Annual Report and First Quarter 2013 report, we also restated our fiscal 2011 financials and our first quarter 2012 financials in order to correct some misclassifications and to provide additional disclosure to our investors, our shareholders and the public. We are committed to transparency and to keeping the public informed of our progress in developing our properties."
In the meantime USCorp continues to pursue other opportunities for acquisition or joint-venture development of resources in keeping with its mission of "Exploring and Developing America's Mineral Resources."
USCorp is an exploration stage company with gold and silver projects in Arizona and California. Information about USCorp can be found at the company's website: http://uscorpgold.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future results.
KEYWORDS: United States North America Nevada
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