OIL CITY, La., Oct. 20, 2010 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company," "Dragon") (Pink Sheets:BDGR) would like to speak to shareholders about several matters that are of concern to company management.
Company management believes there are bashers who are short or paid by shorts to discredit publicly traded companies. We are hoping that federal authorities, the FBI, DOJ and SEC look into the false and misleading statements being circulated on the internet via message boards and chat rooms to strategically damage the reputation of our company and other public companies. Recently the company has received calls threatening bodily harm to company employees.
"We would like shareholders to know that the company is selling two leases and is not selling our entire portfolio of wells. The company is moving forward on a very intensely negotiated transaction. When this transaction is completed an announcement will immediately be made to our shareholders."
The only cash flow problem the company is facing right now is attaining enough working capital to maintain the company's consistent growth rate. Management is moving along very positively with several parties to resolve this issue.
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
CONTACT: Black Dragon Resource Companies, Inc. Investor Relations 913-226-3818