NEW YORK, July 21, 2011 (GLOBE NEWSWIRE) -- Mayfair Mining & Minerals, Inc., (the Company) (Pink Sheets:MFMM) (Frankfurt:M1M) has today been notified of the following announcement by the SEC:-
The Commission temporarily suspended trading in the securities of the company due to a lack of current and accurate information about the company because we have not filed certain periodic reports with the Commission. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).
The Company has been aggressively and diligently finalizing its audited financial statements and in the past year has filed the following Form 10Ks with the SEC –
07 -16-2010 for the period 03-31-07
01-05-2011 for the period 03-31-08
06-30-2011 for the period 03-31-09
07-08-2011 for the period 03-31-09 ( 10K/A )
07-15-2011 for the period 03-31-10
In conjunction with the Company's auditors, Malone Bailey LLP of Houston, Texas, the Company continues to focus on the issue of compliance and attaining current status in regard to its financial filings. The Form 10K for the period 03-31-2011 is currently undergoing final preparation and will then be submitted for review by the auditors.
The Company has responded to the SEC on this issue and awaits their comments.
On behalf of the Board of Directors,
Clive de Larrabeiti
President
The Mayfair Mining & Minerals, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5317
SAFE HARBOR STATEMENT
This Corporate Overview may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various mining project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward looking statements contained herein. Forward-looking statements involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends" and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks described in this business plan. Such risks include, but are not limited to terrorist activities that may affect our business or the economy in general; lack of success in mining activities; the prices of metals and gemstones; lack of funds to conduct mining activities; increase in costs of production, and similar risks. For further information about the Company, please refer to its materials filed with the Securities and Exchange Commission and available on the SEC website at www.sec.gov