Four Rivers BioEnergy Inc’s SEC registration was finally revoked by the SEC on October 1, 2013; because, as announced previously, the Company has been unable to file routine financial reports with the SEC for some considerable time. It was inevitable that the SEC would take this action at some point. As a result the Company is unable to make any more announcements on the SEC’s information and reporting system (‘EDGAR’).
The Company was poised to make an announcement on the EDGAR system on October 2, the text of which is reproduced here:
The directors of the Company have concluded that the potential equity investor, referred to on Form 8K issued by the Company on December 18, 2012, is no longer in a position to make its proposed equity investment in the Company. Following this: (i) the holder of the Company’s Original Issue Senior Convertible Debentures has issued a formal default notice and demanded immediate repayment of the amount due to it and (ii) the directors of the subsidiary company, which owns the Group’s last remaining asset (land in the United Kingdom, which is mortgaged to the Debenture holder), have commenced action to appoint a liquidator to facilitate the sale of the land, the proceeds from which will almost certainly not be sufficient to cover the full amount due under the Debentures. As a result the Company will be insolvent with no assets or activity. In due course it is therefore likely that the Company (and its remaining subsidiaries) will be liquidated and/or dissolved.
Any inquires should be addressed by mail to the directors at the Company’s UK mailing address, which is 14 South Molton Street, London, W1K 5QP, United Kingdom.
4th October 2013