YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
“Due to the company’s current cash position, the company has been unable to pay its outside auditors the required fees to complete the audit of the company’s financial statements to be included in the company’s annual report on Form 10-K for the fiscal year ended Dec. 31,” the company stated in the filing. “The company is working to obtain third-party financing in an amount sufficient to pay its outside auditors to complete the necessary work.”
The sound-system manufacturing company said it is “unable to predict when it will be in a position to file the 10-K.”
This is the second consecutive year that SLS has postponed its annual financial results. In March 2006, the company delayed its 2005 results because officials said they needed additional time to comply with the Sarbanes-Oxley Act of 2002 in completing the company’s audit.
SLS shares (OTC BB:SLSZ.OB) were trading Monday at 12 cents.
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