Danny Zheng Named Chief Financial Officer Of The Singing Machine Company.COCONUT CREEK, Fla. -- The Singing Machine Company (AMEX AMEX See: American Stock Exchange :SMD (1) (Storage Module Device) A high-performance hard disk interface used with minis and mainframes that transfers data in the 1-4 MBytes/sec range (SMD-E provides highest rate). See hard disk. ) announced today that Danny Zheng, Financial Controller and Principal Accounting Officer, has been named Chief Financial Officer. Zheng succeeds Jeff Barocas, who resigned to pursue other interests. "Since joining The Singing Machine a year ago, Danny was the person primarily responsible for successfully rebuilding our accounting and financial systems. Working behind the scenes, he was instrumental in automating our financial reporting, establishing procedures to ensure the integrity and accuracy of our financial data, improving our internal controls and cost, royalty and inventory accounting systems, and ensuring the timely filing of all documents required by the SEC," said Interim CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Y.P. Chan. "Danny has proven himself to be a capable, hard-working executive with tremendous professionalism and integrity. We expect him to continue to make outstanding contributions to our company as CFO See Chief Financial Officer. ." Zheng, a Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. licensed by the state of Delaware and a member of American Institute of Certified Public Accountants With over 330,525 CPA members (in August 2006), the American Institute of Certified Public Accountants (AICPA) is the largest professional organization of Certified Public Accountants (CPAs) in the United States of America. (AICPA AICPA See American Institute of Certified Public Accountants (AICPA). ), has held senior finance posts at a number of private and public companies. He began his career as a tax consultant with a regional 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. firm based in New York. From 1998 to 2003, Zheng served as General Manager for PC Ware International, a computer manufacturer based in Taiwan, where he was responsible for distribution, marketing and finance in the United States and Latin America. Zheng, 35 years old, earned a B.S. degree in accounting from Nankai University in China. In addition to English and Chinese, he has knowledge of Spanish and Portuguese. About The Singing Machine Incorporated in 1982, The Singing Machine Company develops and distributes a full line of consumer-oriented karaoke machines and music under The Singing Machine(TM), Motown(TM) and other brand names. The first to provide karaoke systems for home entertainment in the United States, Singing Machine sells its products in North America, Europe and Asia. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2004. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the risks that our vendors in China may not ship our products on the scheduled basis and that we will have sufficient cash flow to finance our working capital needs in the second and third quarter of this fiscal year. In addition, you should review our risk factors in our SEC filings which are incorporated herein by reference. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. |
|

Printer friendly
Cite/link
Email
Feedback
Reader Opinion