Synthesis Energy Systems Announces Move to U.S. Independent Auditors.Move Signifies Positive Step Forward as Company Takes Advantage of Global Market Opportunities for its Coal Gasification Coal gasification The conversion of coal or coal char to gaseous products by reaction with steam, oxygen, air, hydrogen, carbon dioxide, or a mixture of these. Technology HOUSTON -- Synthesis Energy Systems, Inc. ("SES" or the "Company") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :SYMX) announced today that KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen U.S. LLP LLP - Lower Layer Protocol has agreed to represent SES as its lead independent auditor Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , supplementing the efforts of KPMG Huazhen, the China member firm of KPMG International, which formerly handled SES' auditing function on an exclusive basis. Affiliated with KPMG International, a Swiss cooperative, KPMG U.S. and KPMG Huazhen are part of the KPMG network of independent member firms. "We have much respect for KPMG and have been pleased with the level of service and professionalism we have received from its international member firms," stated Timothy E. Vail, SES President and 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. . "The decision to move the audit function to the United States from China was deemed the best course of action given our recent opening of our corporate headquarters in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the and our global exclusivity licensing agreement with the Gas Technology Institute for its U-GAS[R] gasification gas·i·fy tr. & intr.v. gas·i·fied, gas·i·fy·ing, gas·i·fies To convert into or become gas. gas technology. The change to the U.S. audit member firm affords us the opportunity to not only broaden our relationship with KPMG but also meet the growing global demand we expect to encounter for our proprietary clean coal U-GAS[R] gasification technology." About Synthesis Energy Systems Synthesis Energy Systems, Inc. is an energy and technology company that deploys proprietary technology to efficiently and cleanly gasify low value fuels to replace high cost energy and chemical products sold to major global markets. With its proprietary U-Gas[R] technology, licensed from the Gas Technology Institute, SES can cleanly turn waste coal products into high value synthesis gas synthesis gas n. A mixture of gases made as feedstock, especially a fuel produced by controlled combustion of coal in the presence of water vapor. for use in power and chemical applications. SES' technology performs this gasification without the harmful emissions normally associated with coal fired energy production. SES currently has offices in Houston, Texas, Shanghai and Beijing, China. For more information on SES, visit www.synthesisenergy.com or call 713-579-0600. About KPMG KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International. KPMG International's member firms operate in 144 countries and have more than 104,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss cooperative. KPMG International provides no client services. KPMG International is the coordinating entity for a global network of professional services firms, providing audit, tax, and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , with an industry focus. KPMG in China has more than 5,200 professionals, nine offices and 154 partners and principals. KPMG offices in China are located in Beijing, Qingdao, Shanghai, Chengdu, Hangzhou, Guangzhou, Shenzhen, Hong Kong and Macau. Forward Looking Statements Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that involve substantial risks and uncertainties. When used in this press release and in any documents incorporated by reference herein, the words "expects," "will" and similar expressions identify certain of such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of SES and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond SES's control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive, and other factors affecting the SES and its operations; and other risk factors. SES cautions that the foregoing factors are not exclusive. SES assumes no obligation to update the information contained in this press release. |
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