Message #13 From:
NewsBot Date: December 22, 2005 02:30:00 AM
REDI News Remote Dynamics, Inc. Receives Going Concern Qualification in Fiscal 2005 Audit Opinion
RICHARDSON, Texas--(BUSINESS WIRE)--Dec. 22, 2005--Remote Dynamics, Inc. (Nasdaq:REDI), a leading provider of telematics-based management solutions for commercial fleets, in compliance with Nasdaq Marketplace Rule 4350(b)(1)(b), announced that BDO Seidman LLP, the company's independent registered accounting firm, issued an audit report for the fiscal year ended Aug. 31, 2005 which expressed an unqualified opinion but included an explanatory paragraph concerning Remote Dynamics' ability to continue as a going concern based upon its history of recurring losses from operations and negative cash flows from operating activities. For additional information regarding management plans regarding the going concern audit opinion, please see the company's Form 10-K filed with the Securities and Exchange Commission on Dec. 14, 2005 which is available at the SEC's website at http://www.sec.gov.
About Remote Dynamics:
Remote Dynamics, Inc. (Nasdaq:REDI) provides patented state-of-the-art mobile resource management solutions that contribute to higher customer revenues, enhanced operator efficiency and improved cost control. Combining GPS and wireless telematics with supply chain management, the company's solutions improve mobile worker productivity through real-time position and route reporting, as well as exception-based reporting that analyzes mobile workforce inefficiencies for operational optimization. More information about Remote Dynamics is available online at http://www.remotedynamics.com.
Legal notice to investors: Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the company "expects," "believes," "anticipates" or words of similar import. Similarly, statements that describe the company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements generally involve known and unknown risks, uncertainties and other facts, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: ability to successfully implement new customers; ability to regain and maintain compliance with NASDAQ SmallCap $1.00 minimum bid price requirement; acceptance of new product offerings; ability to successfully implement a channel partner strategy; ability to co-market and/or integrate REDIview products and services with REDIpartner participants; products and services; ability to successfully integrate mobile resource management products with customer's existing logistics management systems; ability to achieve sales projections; ability to achieve and maintain margins during periods of rapid expansion; availability of capital to fund expansion and change in business model to recurring revenue model; ability to attract and retain qualified sales personnel; market conditions; general economic and business conditions; business abilities and judgment of management and personnel; changes in business strategy and competition. For a listing of risks applicable to the future prospects of the company, please refer to the reports filed with the SEC, such as recent 10-K and 10-Q Reports.
"Remote Dynamics," is a federally registered service mark of Remote Dynamics, Inc. "REDIview," "REDIpartner," "REDInow," and "REDIarchive" and their associated logotypes are trademarks and service marks of Remote Dynamics, Inc. (C) Remote Dynamics, Inc. All rights reserved.
