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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (3274)	3/10/1998 11:56:00 AM
From: aleta	Read Replies (4) \| Respond to of 18444

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS The Board of Directors Enhanced Services Company, Inc. We have audited the consolidated balance sheet of Enhanced Services Company, Inc. and Consolidated Subsidiaries as of November 30, 1997 and related consolidated statements of operations, changes in stockholders' equity and cash flows for the two years ended November 30, 1997 and 1996. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Enhanced Services Company, Inc. and Consolidated Subsidiaries as of November 30, 1997 and the results of its operations, its changes in stockholders' equity and its cash flows for the two years ended November 30, 1997 and 1996 in conformity with generally accepted accounting principles. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 1, the Company has suffered recurring losses from operations which raises substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Schumacher & Associates, Inc. Certified Public Accountants 12835 E. Arapahoe Road Tower II, Suite 110 Englewood, CO 80112 Why would anyone invest $50M in a company in which there is substantial doubt as to it's ability to continue as a going concern? Aleta