Evermedia Group Announces Audit UpdatePR Newswire
BOSTON, Aug. 23, 2012 /PRNewswire/ -- Evermedia Group, Inc. (OTC: EVRM) The Evermedia Group audit is on going as the Company continues to work with its auditors to complete 2011 financial statements. As this is the Company's first experience with the audit process, many resources and man-hours have been dedicated to this effort. Though challenging and time consuming, Evermedia has been working diligently with their auditors to ensure accuracy, provide documentation and to support all requirements to complete this phase of conditions to further the aim to up list onto the Bulletin Board. Once the audit is complete, the Company will file the Form 10 to become a fully reporting company in accordance with the rules and regulations set forth by the Security and Exchange Commission and other regulatory bodies.
"One of the challenges that we face regarding the audit, that perhaps other small businesses do not, is based on our operating structure. We have a public parent and two wholly owned subsidiaries. Evermedia Biometrics and System Technology Solutions operate independently even though the same parent owns them. It's as if we are auditing 3 companies, not just one," commented Evermedia Group CEO Jonathan Sym. "As a small enterprise our resources are limited and everyone in our organization has multiple duties which limits the amount of attention paid to any particular project. However, we continue to work as hard as we can to accomplish the tasks before us."
Other significant challenges to company personnel are due largely in part of increases to business activity and development over the past year. Though there have been increases to the number of employees dedicated to specific projects, no increases have been made to corporate headquarters personnel to manage and administer the growth, largely due to budgetary constraints.
Attracting new business, continuing to provide outstanding support to existing business and growing the enterprise will always be the first and foremost aims of Evermedia. "Completion of the audit is very important to us and continues to be a top priority. We will continue our efforts to the best of our ability to finish as quickly as we can. However, our value does not lie in the audit itself but rather in our ability to intelligently manage our growth, consolidate our human and fiscal resources to create efficiencies and to explore new revenue channels in an uncertain economy," Sym commented. "I think our shareholders would agree that we should make these values our highest priority."
As the audit progress is of high interest to shareholders, the Company will continue to provide future updates on the Evermedia Group and Facebook sites as well as provide on going information to Briggs Smith of the Olibri Group, the Company's investor relations firm.
About The Evermedia Group, Inc.: The Evermedia Group, Inc. (www.biiometrix.com and www.sts-corporation.net) is a Service Disabled, Veteran Owned Small Business (SDVOSB) providing defense, engineering and security solutions to government agencies and private entities. Evermedia Group's wholly owned operating subsidiaries include defense contractor System Technology Solutions, Inc. and biometric technology developer Evermedia Biometrics Corporation. Follow Evermedia on Facebook (facebook.com/Evermedia) and Twitter (twitter.com/evermediagroup).
Safe Harbor Statement This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of The Evermedia Group, Inc. and its subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations, including execution of growth strategies, transformation initiatives and restructuring plans; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by Evermedia's businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by Evermedia and its customers, suppliers and partners; the protection of Evermedia's intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; expectations and assumptions relating to the execution and timing of growth strategies, transformation initiatives and restructuring plans; the resolution of pending investigations, claims and disputes; and other risks that are described in Evermedia's Alternative Reporting Standard disclosure onwww.otcmarkets.com. Evermedia assumes no obligation and does not intend to update these forward-looking statements.
Copyright 2012 The Evermedia Group, Inc. The information contained herein is subject to change without notice. Evermedia shall not be liable for technical or editorial errors or omissions contained herein.
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