OIL CITY, La., Nov. 4, 2010 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company," "Dragon") (Pink Sheets:BDGR) would like to speak to shareholders about rumor mongering and the effects it can have on shareholders emotionally and financially.
For the past year many shareholders of Black Dragon Resource Companies Inc. have looked to message boards as an effective method of communicating company matters amongst each other. Truthful, open discussion can be a very healthy method of communication amongst shareholders.
However, in recent months the company has been made aware of a malicious attack on Black Dragon Resource Companies Inc. being made on message boards. False and misleading statements have been made by anonymous posters making claims that are untruths and completely slanderous. This has had a devastating impact on the emotions of shareholders, company employees, and shareholder value.
Company management would like to make the following statement to shareholders, "The company is not going bankrupt and the company is not going to reverse split the company's shares."
According to Tom Neely, President of Black Dragon Resource Companies Inc., "What these anonymous posters are doing is criminal and blatant fraud. The company will no longer allow shareholder value to be destroyed by this group and management is in the process of beginning legal means to find and prosecute these fraudsters."
Company management would like shareholders to know third quarter financials are scheduled to be released next week, along with additional important company news.
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.