DOVE CANYON, Calif., June 2, 2005 (PRIMEZONE) -- BICO, Inc. (Pink Sheets:BIKO), a distributor of Internet appliances and an advertising and content publisher, primarily focused on the multi-housing and hospitality industries, announced that it has filed its 10-Q report for the quarter ended March 31, 2005 and supplemental financial information for an earlier report on Form 8-K. The company said these actions makes it current with all SEC filing regulations, and that it has commenced efforts to obtain its relisting on the OTC Bulletin Board as rapidly as possible.
"We are very glad to be current in our filings, and are currently reviewing several firms that can provide us timely service in both accounting and auditing to ensure that we remain in regulatory compliance," said BICO CEO Richard Greenwood. "Our goal is to ensure that our filings stay current as we move forward with executing our business plan as an OTC Bulletin Board stock, and then advance to a higher trading exchange as soon as circumstances warrant.
"We would like to thank all our shareholders for their patience as we completed the process of converting our accounting process and the unfortunate delays that caused."
BICO delivers content and other fee-based services, including ISP, telephone services, videoconferences, and e-commerce fulfillment directly to its webphone appliances. Much like a magazine publication sells advertising space based on its circulation and readership, the BICO WebPhone business relies on generating advertising revenue from regional, national and local merchants who service apartment communities, and benefit from placing paid advertising on the screen of the WebPhone.
This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provisions of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future events, financings, revenues, sales of products or advertising, cash flow, profits and performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations, including those risks disclosed in the company's current and future filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.