(Source: MARKETWIRE)Unico, Incorporated (OTCBB: UNCO), a natural resource company in the precious metals mining sector, has filed an amended annual report for the fiscal year ended February 28, 2009 and an amended quarterly report for the period ended May 31, 2009, which show the expected reduction of the company's accumulated deficit of over $4,800,000. The company previously filed a Current Event on Form 8-K regarding the expected deficit reduction. A link to all of these filings can be found on the company's website at http://www.unicomining.com./IR/mailinglist.php.

The amended reports were filed after Unico, Inc. received a comment letter from the U.S. Securities and Exchange Commission (S.E.C.) dated July 29, 2009 relating to the company's Annual Report on Form 10-K for the fiscal year ended February 28, 2009 and its Quarterly Report on Form 10-Q for the quarter ended May 31, 2009. Following receipt of that comment letter, Unico's Chief Financial Officer Kenneth C. Wiedrich had discussions with certain staff accountants of the Securities and Exchange Commission concerning the proper accounting treatment relating to various convertible debentures previously issued by Unico. As a result of those discussions, Unico's Board of Directors concluded on August 31, 2009 that the convertible debentures had not been accounted for correctly. As a result, Unico's financial statements for the fiscal year 2009 annual report and the quarterly report for the three months ended May 31, 2009 were restated in amendments filed by the company.

As a result of the restatements, the derivative liability line item was removed from each balance sheet, and other related adjusting entries were made. As a result of these accounting corrections, the company's accumulated deficit as of February 28, 2009 decreased by $4,008,674, and the company's net loss for the fiscal year ended February 28, 2009 decreased by $3,021,016. As of May 31, 2009, the company's accumulated deficit was reduced by $4,834,007 and the company's net loss decreased by $825,333.

After the amended reports were filed, the company received a correspondence from the S.E.C. which stated that the Commission had no further comments at this time.

In addition to the amended reports, Unico has also filed its quarterly report for the period ended August 31, 2009 with the Securities and Exchange Commission.

"We are pleased to report the significant reduction in accumulated deficit as reflected in the amended annual and quarterly reports," said Mr. Wiedrich. "These changes will provide a more accurate picture of the company's financial condition as we move forward with our operations at the Deer Trail Mine and other properties under management.