Trans-Industries, Inc. Audit Opinion Includes Going Concern Qualification
April 20 2004 - 4:15PM
PR Newswire (US)
Trans-Industries, Inc. Audit Opinion Includes Going Concern
Qualification ROCHESTER HILLS, Mich., April 20
/PRNewswire-FirstCall/ -- Trans-Industries, Inc. , today announced,
in conformance with Nasdaq's Marketplace Rule 4350(b)(1)(B), that
its Form 10-K for the fiscal year ended December 31, 2003, which
was filed on April 14, 2004, contained an audit opinion that
included a going concern qualification. The audit opinion cited the
Company's recurring losses from operations, cash flow difficulties,
and the fact the Company is in default of the terms of its credit
facility. About the Company The Company is a leading provider of
lighting systems and related components to the mass transit market
as well as a supplier of information hardware and software
solutions on Intelligent Transportation Systems (ITS) and mass
transit projects. ITS utilizes integrated networks of electronic
sensors, signs and software to monitor road conditions, communicate
information to drivers and help transportation authorities better
manage traffic flow across their existing infrastructures.
Forward-Looking Statements Except for statements of historical
fact, this news release contains certain forward-looking statements
about the Company. Such statements are subject to significant risks
and uncertainties including changes in economic and market
conditions, management of growth, and other risks noted in the
Company's SEC filings, which may cause actual results to differ
materially Visit Trans-Industries at
http://www.transindustries.com/ . DATASOURCE: Trans-Industries,
Inc. CONTACT: Kai Kosanke, Chief Financial Officer of
Trans-Industries, Inc., +1-248-852-1990 Web site:
http://www.transindustries.com/
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