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Cycle Country Announces Filing Of SEC Form 12b-25, Notification Of Late Filing In Regard To Its Second Quarter 2010 Form 10-Q Report

Cycle Country Accessories Corporation (AMEX: ATC - News), announced today that it has filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission with regard to its Form 10-Q report for the second fiscal quarter of 2010. This allows the company an additional five calendar days to file the Form 10-Q, which was otherwise due May 17, 2010.

On Monday, May 17, 2010, the company filed amended Forms 10-Q/A for the three quarters of fiscal year 2009, covering the periods ended December 31, 2008, March 31, 2009, and June 30, 2009.

As previously announced, in January 2010, the Company announced that it had uncovered a misappropriation of funds by its former Chairman of the Board, causing the Company to have to restate its Forms 10-Q for the prior three quarters 2009. In addition, it has caused the Company delays in timely filing its Form 10-K for the year ended September 30, 2009, and the Form 10-Q for the first fiscal quarter of 2010.

The company anticipates filing its Form 10-K for the year ended September 30, 2009 and its Form 10-Q for the period ending December 31, 2009 on May 19, 2010. The company expects to file the Form 10-Q for the second fiscal quarter of 2010 on or before Monday, May 24, 2010, in full compliance with the rules of the SEC.

www.cyclecountry.com

       

www.plazco.com

         

www.perf-form.com

     

 

 

www.imdyne.com

       

Forward Looking Statements This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” and their variations are intended to identify forward-looking statements. Forward-looking statements include the amount misappropriated in connection with the matters discussed above; the period in which the activities discussed above took place and the persons involved in such activities; the outcome of any further investigation or other action that Cycle Country or federal or state authorities may undertake with respect to these matters; the availability of insurance coverage; any remediation that Cycle Country may take with respect to any financial accounting and disclosure control deficiencies it may discover; and Cycle Country’s ability to file restated financial statements. These statements speak only of the date hereof and are subject to risks and uncertainties that could cause actual results to differ materially, including further review of the matters discussed above, actions that may be taken or required as a result of the Investigation, including the need to restate prior financial results, and the conclusions reached by Cycle Country’s management and board of directors based on the results of any investigations, and any further review or investigation. Cycle Country undertakes no obligation to revise or update publicly any forward-looking statements.

Copyright Business Wire 2010

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