MIAMI, Sept. 18, 2009 (GLOBE NEWSWIRE) -- On August 10, 2009, the Board of Directors of Fuego Enterprises, Inc. (Pink Sheets:FUGI) dismissed Moore & Associates Chartered, its independent registered public accounting firm. On the same date, August 10, 2009, the accounting firm of Seale and Beers, CPAs was engaged as Fuego's new independent registered public accounting firm.
We made this decision based on information we received that our prior auditor was sanctioned by the SEC for substandard auditing and that meant a re-audit for fiscal 2008 was required. At present our new auditor is not able to re-audit 2008 in time to file Form 10-K to incorporate both years. Due to anticipating an E symbol on the account for more than 30 days and no approval to defer beyond that date by NASDAQ or the SEC, it was decided at this time to not continue as a reporting company, which by default requires Fuego to become a pink sheet company. Fuego intends to continue filing its financial statements while on the pink sheets; we also intend to file unaudited financial statements in the near future.
About Fuego Enterprises, Inc.:
Fuego Enterprises, Inc. is a diversified holdings company with operations in media and entertainment, telecommunications, and other industries currently under development. Fuego Entertainment is based in the U.S. with a focus on Latin markets. For more information, please visit Fuego Enterprises at www.fuegoentertainment.net
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Fuego Enterprises, Inc., members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.