NEWS NEWS NEWS !!!!!! REAUDIT OF SEXI BY WALTHER
MCLEAN, Va., Oct. 18 /PRNewswire/ -- Kenneth Walther, the President of
Systems of Excellence, Inc., (OTC Bulletin Board: SEXI), (SOE or the Company),
states that it has hired the auditing firm of Feldman, Radin & Co. P.C.,
Certified Public Accountants, to re-audit the February 29, 1996 Form 10-KSB.
Mr. Walther stated that the Company lacks confidence in the financials that
were filed and prior press releases; and investors and market-makers should
not rely on such filed financials or press releases.
On October 4, 1996, the SEC issued a private order of investigation
concerning the Company, its filings, and trading in the Company's securities.
On October 7, 1996, the SEC temporarily suspended trading in the Company's
securities. The Commission release stated:
"The Commission ordered this trading suspension because of questions
raised as to the adequacy and accuracy of publicly-disseminated information
concerning, among other things: (1) SOE's reported financial condition; (2)
the existence and value of services rendered to SOE in exchange for stock
issued by SOE; (3) whether stock was issued by SOE to consultants without
registration; (4) the reasons for changes in SOE's independent accountants;
and (5) SOE's sales of its video teleconferencing products. The Commission
determined that the public interest and the protection of investors requires a
suspension of trading in SOE securities."
The Company's current management has not yet been able to satisfy itself
as to these issues.
Mr. Walther stressed that the trading suspension in the Company's
securities should continue until more accurate and complete disclosure has
been made to the SEC and other self regulatory organizations.
Mr. Walther further stated that to the best of his knowledge the Chairman
of the Company has taken an administrative leave of absence.
SOURCE SYSTEMS of Excellence, Inc.
CONTACT: Cynthia Gramer, 800-457-8674 |
