Probart,
The auditor's report looks like standard boilerplate for this situation. No it won't be halted.
>> CONSENT OF INDEPENDENT AUDITORS
The Board of Directors
Pacific Aerospace & Electronics, Inc.
We consent to the reference to our firm under the heading "Experts" and to the incorporation by reference into the Form S-3 filed by Pacific Aerospace &
Electronics, Inc. of our report dated July 28, 2000, relating to the consolidated balance sheets of Pacific Aerospace & Electronics, Inc. as of May 31, 1999 and 2000 and the related consolidated statements of operations,
stockholders' equity, and cash flows for each of the years in the three year period ended May 31, 2000, which report appears in the May 31, 2000 annual report on Form 10-K of Pacific Aerospace & Electronics, Inc.
Our report contains an explanatory paragraph that states that the Company has suffered recurring loses from operations, which raise substantial doubt about its ability to continue as a going concern. The consolidated financial
statements and financial statement schedules do not include any adjustments that might result from the outcome of that uncertainty.
/s/ KPMG LLP
Seattle, Washington
August 28, 2000
I think today's action has to do with the grim reminder of the warrants for 2 million + shares at $1.50:
10kwizard.com
These guys need to get some cash flow going and break the cycle.
Cheers, Tuck |
