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Organic Alliance Files 10K With SEC

^{Published on 2010-05-19 12:20:21 - Market Wire}
 

SALINAS, CA--(Marketwire - May 19, 2010) - Organic Alliance, Inc. (PINKSHEETS: [ ORGC ]), an emerging grower and shipper of organic-certified, fair trade and conventional fresh foods in the global marketplace, announced today that it has recently filed 10Ks covering both the 2008 and 2009 fiscal years. On March 31st the company announced that it had completed a comprehensive review of operations for year 2008, which were filed with the Securities and Exchange Commission in accordance with Section 13 or 15(d) of the Exchange Act. On May 15th, the same was completed for the fiscal year ending December 31st, 2009. Both filings along with recent Quarterly filings are available for all to review, at the Commission's Edgar filing site.

"There is a tremendous amount of work required to complete these filings, particularly when the financial statements are audited," stated Parker Booth, President and CEO. "The filing of our 10K provides our shareholders with in depth details of our operations, including our consolidated balance sheets, our consolidated statements of operations and our consolidated statements of shareholder equity and cash flows," he added.

In addition to extremely detailed financial reporting, the 10K also covers items such as how the company became public, financing activities including unregistered sales of securities, employment contracts, operating leases, an overview of its plans and goals and a detailed results of operations report.

"This is an exhaustive review," stated Mr. Booth, "in that we had to provide detailed information covering a time period dating back to 2008, particularly in light of our wanting audited financial statements, to provide for our shareholders."

Being a fully reporting company and providing audited financials is statement of commitment by management, that it intends to provide its shareholders and potential investors with as much information as possible and with the highest level of transparency.

"With these filings completed, which additionally serves to demonstrate to shareholders our commitment to see this company become a success and an eventual leader in the field of organic food sourcing and distribution, a $52 billion global market, we hope to gain a better footing with the investment community and to have our share price more accurately reflect our true potential.

"This would enable us to more actively pursue financing opportunities, which will permit us to move to our next level of growth, over the base of $4,268,680 in revenues which we generated from June of 2009 to fiscal year end," said Mr. Booth.

About Organic Alliance, Inc.
Organic Alliance, Inc. brings together a unique alliance of respected growers, packers and shippers from around the world in order to source, market and distribute best-quality certified-organic and conventional food products that are fairly traded and fairly priced. Crops are grown, packed and shipped under Organic Alliance supervision using advanced quality, food safety and sustainable agriculture practices. The company's Approved Origins™ Program delivers not only on-demand traceability, but transparency in all business-critical practices, including leading-edge practices, continuous improvement and work force fairness. To find out more about Organic Alliance products, contact the company at 831-240-0295 or visit [ www.organicallianceinc.com ].

"Safe Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements which address actual results could differ materially from those expressed or implied in forward-looking statements. These statements are made on the basis of management's views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements