YARC's S.E.C. Filing Progress Report.Business Editors & High-Tech Writers CAMARILLO, Calif.--(BUSINESS WIRE)--Oct. 10, 2000 YARC YARC You're Absolutely Right, Commander (military slang) Systems Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :YARC) has now received clarification from the S.E.C. concerning the requested consolidation of YARC's 1998 financial statements with YARC's U.K. subsidiary. In June, the S.E.C. had requested that YARC fully consolidate the numbers resulting from YARC's subsidiary operations in Blackburn, England. They further expressed concern about the technical independence of the subsidiary's auditor. YARC's U.S. auditors requested guidance from the S.E.C. as to what presentation was required under Generally Accepted Accounting Principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting (GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). ), and YARC has now received guidance on the financial statement presentation to be followed. YARC's auditors are preparing the GAAP audit of the company's U.K. subsidiary for the 1998 year (ending Jan. 31, 1999), and the revised paperwork will then be filed with S.E.C. About YARC (http://www.yarc.com/) YARC has developed proprietary LINUX software that integrates printing technologies with the Internet. YARC's servers can receive images over the Internet and can be configured and upgraded from any standard Internet browser. YARC's proprietary implementation of Adobe Systems' Postscript Printer Description PostScript Printer Description (PPD) files are created by vendors to describe the entire set of features and capabilities available for their PostScript printers. A PPD also contains the PostScript code (commands) used to invoke features for the print job. Language (PDL See page description language. 1. PDL - Page Description Language. 2. PDL - Program Design Language. 3. PDL - Push Down List. 4. PDL - Dave Lebling, one of the co-authors of Zork. ) is used to process computer images so they can be transferred to a printing engine, across the Internet, without any loss of detail or color quality. YARC's Internet technology enables a direct link between the graphic artist and the printed output. This workflow ensures optimal color quality and greater productivity than typical competitive Internet workflows, where a broker is used to interface between the graphic artist and the printing press operators. A YARC LINUX Color Server, for evaluation by the public, is at http://yarcxp.com. YARC's E-commerce server is at https://SecureShop.yarcrip.com. |
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