Bio-Solutions International, Inc., Clarifies Dow Jones Newswire's Correction.Business Editors HATTIESBURG, Miss.--(BUSINESS WIRE)--Nov. 6, 2001 Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Newswire issued a statement today about Bio-Solutions International, Inc.'s (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BSIIE) recent 8-K filing with the headline, "Bio-Solutions Fires Auditor auditor n. an accountant who conducts an audit to verify the accuracy of the financial records and accounting practices of a business or government. A proper audit will point out deficiencies in accounting and other financial operations. After `Going Concern' Report." Bio-Solutions categorically denies this statement. S.W. Hatfield, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. , who has been the auditor of the public company, f/k/a Septima Enterprises, Inc., was replaced as the auditor of Bio-Solutions since he was unable to complete the audit by November 14, 2001. If the audit, and 10-K filing which needs to include the audit, is not filed by November 14, Bio-Solutions will be ineligible in·el·i·gi·ble adj. 1. Disqualified by law, rule, or provision: ineligible to run for office; ineligible for health benefits. 2. for listing on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . Baum & Company, P.A., which previously audited Bio-Solutions' subsidiary, Paradigm Sales & Marketing, Inc. and Bio-Solutions International, Inc. (a New Jersey corporation) whose assets were acquired by Bio-Solutions International, Inc. (a Nevada company) f/k/a Septima Enterprises, Inc., has been selected to replace S.W. Hatfield, C.P.A. and informs the company they will be able to complete the audit prior to November 14. The replacement of S.W. Hatfield, C.P.A. by Baum & Company, P.A. was not at all related to "going concern" opinions previously issued by S.W. Hatfield, C.P.A. In fact, Bio-Solutions expects that Baum & Company, P.A. will issue its audit with a "going concern" opinion. Furthermore, the Dow Jones release makes the statement, "But the company said in the filing that the majority shareholder intends to continue the funding of nominal necessary expenses to sustain the corporate entity." This statement is also false and is not contained in the 8-K filing filed on November 5, 2001. Louis H. Elwell, III, President of Bio-Solutions, contacted several people at Dow Jones with the request to correct these erroneous erroneous adj. 1) in error, wrong. 2) not according to established law, particularly in a legal decision or court ruling. statements. The "corrected" version still implies that the change in auditors is related to the "going concern" statements and that the majority shareholder will continue to provide funding for the company. Neither impression is correct. To quote from the Company's 8-K, "During the Registrant's two (2) most recent fiscal years and during any subsequent interim period preceding the date of resignation, the Company had had no disagreements with S.W. Hatfield, CPA on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure. Since Bio-Solutions International, Inc. (a Nevada company), f/k/a Septima Enterprises, Inc. acquired Paradigm Sales & Marketing, Inc. in February 2001 there has not been a majority shareholder, and no shareholder had made the commitment to continue funding the company. About Bio-Solutions. Bio-Solutions International, Inc. is based in Hattiesburg, Mississippi Hattiesburg is a city in Forrest County in Mississippi, a state of the United States of America. It is the principal city of the Hattiesburg, Mississippi Metropolitan Statistical Area which encompasses Forrest, Lamar and Perry counties. and is a technology provider of biological solutions to meet the demands of customers seeking environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] forms of waste remediation. This release contains statements that constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. |
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