NEW YORK, NY — (Marketwire) — 05/14/12 — GNCC Capital, Inc. (PINKSHEETS: GNCP) (“the Company”) has filed its Quarterly Report for the three months ended March 31, 2012. A full copy of the report may be downloaded here: .
The company recorded a loss of $0.0015 per share in the second quarter ended March 31, 2012 compared to a loss of $0.0013 per share in the first quarter ended December 31, 2011.
The company–s management expect losses in the third quarter ending June 30, 2012 and for the fiscal year ending September 30, 2012 to be substantially higher due to accelerated exploration expenses, which are expensed, not capitalized, the retaining of at least one full-time Geologist and fairly substantial costs associated with the raising of the Company–s profile in the investment community. The company has contractual commitments totaling $180,000 in exploration charges on its properties for the Third Quarter ending June 30, 2012. These losses are normal, expected and are within our stated business model for this fiscal year whilst we remain an Exploration Stage Company.
Shareholders are reminded that the Company–s website is currently being completely redesigned and content updated in order to better reflect our portfolio of properties, our corporate plans and developments. Once it is completed, stockholders will be advised through a press release.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is a gold mining & exploration Company, with a secondary focus on silver. The initial exploration properties located in Arizona consist of “Esther Basin, Burnt Well, Clara, Kit Carson, Silverfields and Potts Mountain.” The Company intends to create value of its initial portfolio of properties through continued exploration, joint ventures, and the acquisition of additional Gold and Silver Exploration assets. GNCC Capital, Inc. is a current information filer on the OTC Markets under the symbol “GNCP.”
Forward-Looking Statements
This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company–s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company–s filings, which are on file with the OTC Markets Group.