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Microcap & Penny Stocks : BLHG, Fast Track Growth in China
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To: Shorty Long who wrote (4027)4/24/2000 12:17:00 PM
From: Beacon Light Holding  Read Replies (1) of 4080
 
Shareholder information: We have received today a response from the U.S. Securities and Exchange Commission regarding our Form 10-SB filed March 24, 2000. The Commission noted the following substantial deficiencies for which they are asking us to either revise or advise:

1. "The principal auditor (Hoffski & Pisano CPAs) is expected to have audited or assumed responsibility for the reporting of at least 50% of the assets and revenues of the consolidated entity."

2. "The audit on the financial statements of Wellux Industries should comply with United States generally accepted auditing standards and the audit report should include a statement that the audit was conducted in accordance with United States generally accepted audit standards."

3. "Because the firm of Raymond Ching & Co., CPAs (the Hong Kong audit firm)are not licensed in the United States and are not familiar to the staff, we will require information about your auditors' qualification to practice before the Commission."

4. "One of your audit reports should clarify which auditor is taking responsibility for the reconciliation to United States generally accepted accounting principles of the financial statements of Wellux Industries."

We have discussed these issues with our U.S. auditors who are prepared to work on solving the deficiencies noted above as soon as possible.
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