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Technology Stocks : Daw Technologies DAWK

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To: GARY P GROBBEL who wrote (603)	11/16/2001 10:52:08 AM
From: Findit	Read Replies (2) of 607

Gary DAWK Has Trouble - late filing. Books must be 'uncooked'. From the NLF today - In October 2001, the Company hired a new Financial Director for its European branch office. During the process of closing and reconciling the accounts for the Company's European branch office for the third quarter ended September 30, 2001, the Company discovered that several accounts could not be reconciled to its satisfaction. Areas requiring additional research include foreign currency transactions and translation, foreign tax accounts and contract receivable accounts. The complete reconciliation, and the restatement of previously issued financial statements that may be necessary as a result of any reconciliation, could not be completed by the November 14, 2001 filing deadline. Based upon the preliminary information available to the Company, it appears likely that a restatement of the Company’s financial statements for the fiscal years ended December 31, 1999 and 2000 (and quarterly reports for 2001, 2000 and 1999) will be necessary. At present, the Company is unable to determine the magnitude of any adjustment that may be required. The Company is actively engaged in completing this review and reconciliation Jim

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