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Building Turbines Signs Letter of Engagement With the Accounting Firm of MaloneBailey, to Complete Full Financial Audit, With the Intent of Becoming a Fully Reporting Bulletin Board Company
By: Marketwired .
Jan. 23, 2013 07:30 AM
AUSTIN, TX -- (Marketwire) -- 01/23/13 -- Building Turbines, Inc. (PINKSHEETS: BLDW), a designer and manufacturer of patented, innovative commercial rooftop wind turbine systems, issued a statement today, that BLDW has signed a Letter of Engagement with the Accounting Firm of MaloneBailey to complete a full financial audit of the company, with the intent of becoming a fully reporting Bulletin Board company.
MaloneBailey, with offices in New York, Beijing, Shenzhen and Houston, is a full-service global public accounting firm that specializes in audits of small- and medium-sized public companies trading on United States stock exchanges. MaloneBailey is in elite company as one of only nine firms in the world that require an annual inspection by the Public Company Accounting Oversight Board (PCAOB); all other firms are inspected every three years. The Sarbanes-Oxley Act requires the PCAOB to conduct annual inspections for firms that regularly provide audit reports for more than 100 issuers. The New York Stock Exchange will not accept a company for listing that does not use one of these 9 firms.
John Graham, CEO of Building Turbines, commented: "With the addition of Paul Getty, and other recent developments in the business, our next obvious step is for Building Turbines to complete and submit a full financial audit. Fully audited financials will provide transparency to our investors, and assist in our goals of moving up to a major market."
About Building Turbines, Inc.
Based in Austin, Texas, Building Turbines, Inc. is a renewable energy company focused primarily on designing, manufacturing and deploying patented revolutionary rooftop mounted, horizontal-axis wind turbines that can bring the dream of clean, affordable wind energy to a reality. The turbines are mounted on a strong steel frame, with a low rooftop signature, requiring minimal maintenance, and generating almost no noise or vibration.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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