due to the discovery by the Company’s current management team of violations of Company policies and procedures and possible violations of law and regulation by the Company’s former Chief Executive Officer and by the former Chairman of the Company’s Board of Directors who resigned in 2015.
The Company is investigating these matters and their potential impact on financial reporting and internal controls over financial reporting, related to previously-issued financial statements, current interim financial information, and management’s certifications. The investigation has just commenced due to the recent discovery by current management but has not to date discovered any financial loss to the Company.