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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (5331)	10/26/1999 10:14:00 AM
From: Sir Auric Goldfinger	Read Replies (2) \| Respond to of 10354

Well Lookie here, our favorite Crim Auditors are now handling SNMM: "STARNET RETAINS U.S. AUDITORS; FILES APPEAL OF ORDER FREEZING 10/25/99 17:16 Canadian Accounts Business & High-Tech Editors ST. JOHNS, Antigua--(BUSINESS WIRE)--Oct. 25, 1999--Starnet Communications International Inc. (OTC-BB: "SNMM") ("Starnet"), announced today that it has retained Jones, Jensen & Company, LLC of Salt Lake City, Utah, as its auditor. Jones, Jensen & Company, LLC is a member of the McGladrey Network, an affiliation of more than 80 independent accounting firms serving businesses across the country, providing the firm with access to a broad base of experience. Meldon Ellis, chief executive officer of Starnet said, "As a leader in online gaming with international operations, we sought the assistance of an accounting firm with significant global experience. With a strong background in performing audits around the world, Jones, Jensen & Company, LLC perfectly fits the needs of our expanding operations." John Carley, chairman of the board and chief financial officer of Starnet added, "I am very pleased with the retention of Jones, Jensen & Company, LLC, which should clearly signal to our customers, shareholders and other stakeholders that Starnet is committed to the highest standards in every aspect of its business, from technological innovation and implementation to financial reporting." Ellis concluded, "Today's announcements continue steps we have taken over the past several weeks to secure continued growth, ensure shareholder value and protect the integrity of the company. The announcements of new auditors, continued expansion into international markets and formation of our new subsidiary Worldbroadcasts.com Inc. clearly demonstrate our commitment to maintaining leadership in online gaming and leveraging our technology to exploit additional high potential markets, while acting in our shareholders' best interests." The company also announced today that that on Friday, October 22, 1999, the company filed an appeal in the Court of Appeal for British Columbia of the September 22, 1999 decision by Justice Patrick Dohm to continue an interim order freezing two of Starnet's bank accounts in Vancouver totaling approximately $6.7 million. The order was originally granted by Justice Dohm on August 25, 1999. Chris Zacharias, Starnet's corporate counsel, said, "We continue to believe that the facts in this case make it very difficult to interpret these funds as proceeds of crime. As a result, we are confident that careful consideration of the facts by the Court of Appeal will result in a decision favorable to Starnet and have asked the court to expedite this matter. We anticipate a decision within two months." Starnet is a fully reporting US (Delaware) corporation, which is currently listed on the National Association of Security Dealers ("NASD") Over-The-Counter Bulletin Board and commenced trading in September of 1997 under the symbol "SNMM". The Wall Street Journal has described Starnet as "one of the established leaders in Internet gaming and entertainment". Starnet is a leading developer and producer of Internet technologies for gaming applications. For more information, please visit www.snmm.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Starnet's filings with the Securities & Exchange Commission.