Essential Resources (ESRS) Message Board

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Non-Tech : Essential Resources (ESRS)

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To: Wolfdog who wrote (24)	10/28/1996 12:54:00 PM
From: Linda Holje	of 67

Was out of town when the big drop occurred. I had my laptop PC, but was too busy enjoying the California sunshine to stay tuned in. It is my understanding that the change in accounting firms is old news, even though the market seemed to react to the 8K filing (volume was still only 37K though, so not alot of selling). The reason for the change is to move to a firm that has a better reputation for dealing with international accounting issues. The earnings are supposed to be out, but I haven't seen them yet, and one of the issues that the market may be reacting to may be a change in accounting procedures from a percentage of completion basis to a cash basis. I haven't substantiated this yet so take it for what it is worth. Linda

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