LYNCHBURG, VA -- (Marketwire) -- 04/23/10 -- Sitestar Corporation (OTCBB: SYTE), a holding company for technology related businesses, announced that is has chosen a new CPA firm to provide auditing services for the year ended December 31, 2009. This new firm, Santora CPA Group, has been engaged to perform the audit and the company intends to have it completed in time to file its 10-K by May 14, 2010.
"After the previous certifying accountants, Bagell, Josephs, Levine & Company, ceased operations, we decided to go with the firm with whom the partners combined because we were to get a larger firm with new staff to look at our books," said Frank R. Erhartic, Jr., CEO of Sitestar. "Unfortunately circumstances prevented the swift execution of the audit and deadlines slipped. As we became confident we weren't going to meet our April 15th deadline, we decided to discontinue our relationship with this firm and find another one."
"After careful consideration, we choose Santora CPA Group to be our independent accounting firm," said Erhartic. "We believe that they will provide us with more timely and accurate audits of our financial statements. This is most important to us."
"We are excited to welcome Sitestar as one of our valued clients and will use our company's resources to facilitate their filing requirements," said Ciro Adams, a Director with Santora CPA Group. "Sitestar is a valued addition to our clientele and we welcome them to our firm and look forward to a long lasting relationship."
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements that are based on management's expectations, estimates, projections and assumptions. The Company assumes no obligation except as required by law to update the forward-looking statements contained in this press release as a result of new information or future events or developments. These forward-looking statements generally can be identified by words such as "believes," "expects," "projects," "anticipates," "foresees," "forecasts," "estimates," "should" or other words or phrases of similar import. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors, including and without limitation, as found in the Company's reports filed with the Securities and Exchange Commission.
Sitestar is a holding company for technology related businesses, including Internet Service Providers (ISPs) and computer sales and services. Sitestar offers consumer and business-grade Internet access, web hosting and computer related services. Other services offered are wholesale managed modem and call center services for downstream ISPs. Headquartered in Lynchburg, Virginia, Sitestar maintains multiple sites of operation and provides services to customers throughout the U.S. and Canada. With a focus on competitive pricing, reliability, service and speed, Sitestar delivers customer value. For more information, visit www.sitestar.com.
Frank R. Erhartic, Jr.
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