Trans-Industries, Inc. Audit Opinion Includes Going-Concern Qualification
23 4월 2005 - 6:15AM
PR Newswire (US)
Trans-Industries, Inc. Audit Opinion Includes Going-Concern
Qualification AUBURN HILLS, Mich., April 22 /PRNewswire-FirstCall/
-- Trans-Industries, Inc. (NASDAQ:TRNI), 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, 2004, which was
filed on April 15, 2005, 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, +1-248-364-0400 Web site:
http://www.transindustries.com/
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