FORT WORTH, Texas, May 22, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Galenfeha, Inc. (OTC:GLFH) announced today that it has experienced additional delays in the filing of its Quarterly Report (Form 10-Q) for the quarter ended March 31, 2018.
On May 15, 2018, Galenfeha filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission requesting an extension to file Form 10-Q. The primary reasons for the continued delay are the implementation of GAAP ASC 606 compliance, of which the company’s management has little experience, and the company’s recent acquisition requires predecessor/successor reporting. Management is working diligently with our auditors to comply with these new regulations and will be filing Form 10-Q as soon as possible.
Contact:
Galenfeha, Inc.
817-945-6448
info@galenfeha.com
Corporate:
420 Throckmorton Street, Suite 200
Ft. Worth, Texas 76102
800-280-2404
Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective," and "appears," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization, or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.