Cap Rock Energy Files Form 8-K Announcing Delay in Filing of Form 10-Q
August 22 2005 - 9:29PM
PR Newswire (US)
MIDLAND, Texas, Aug. 22 /PRNewswire-FirstCall/ -- Cap Rock Energy
Corporation (AMEX:RKE) is filing a Form 8-K with the SEC announcing
a delay in filing its quarterly report on Form 10-Q for its second
quarter of June 30, 2005, subject to final review by its
independent auditors. The Company is currently reviewing an income
tax matter as it relates to its financial statements, and is
working with its independent auditors to resolve the issue. The
Company will file its quarterly report on Form 10-Q for the period
ended June 30, 2005, as soon as the independent auditors complete
their review. Based on the Company's review to date, the net change
to the income statement at June 30, 2005, is approximately
$1,600,000 of additional expense. On August 16, 2005, the Company
issued a press release and filed a Form 12b-25 announcing the
extension of the Company's filing of its quarterly report on Form
10-Q, as well as certain results of operations for that period. The
completion of the review could impact those previously disclosed
results. Those statements made in this release that are not
historical facts are forward-looking statements intended to be
covered by the safe harbor provisions of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Although the Company believes that the assumptions
underlying these statements are reasonable, investors are cautioned
that such forward-looking statements are inherently uncertain and
necessarily involve risks that may affect the Company's business
prospects and performance causing actual results to differ from
those discussed in the foregoing release. Such risks and
uncertainties include, by way of example and not limitation,
general business and economic conditions, regulatory uncertainties
and the legislative environment. These and other applicable risks
and uncertainties are more fully explained in the Company's latest
filings with the Securities and Exchange Commission. The Company
undertakes no obligation to update any forward-looking statements
in this release, whether as a result of new information or future
events. DATASOURCE: Cap Rock Energy Corporation CONTACT: Ronnie
Lyon, +1-903-813-0377, for Cap Rock Energy Corporation
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