ANHUI, China, June 11, 2008 (PRIME NEWSWIRE) -- China Runji Cement Inc. (OTCBB:CRJI) ("Runji" or "the Company"), a leading producer and distributor of cement in Anhui Province, PRC today announced it has retained Malone & Bailey, PC as the Company's independent auditor.
On May 30, 2008, the Company engaged Malone & Bailey, PC as its independent registered public accounting firm and the independent registered public accounting firm of Anhui Runji, China Runji Cement's operating subsidiary. Founded in 1996, one of Malone & Bailey, PC's fastest growing areas of expertise is SEC auditing for small to mid-sized public firms.
Prior to retaining Malone & Bailey, PC, Kempisty & Company had been the independent registered public accounting firm for and audited the balance sheet of Anhui Province Runji and the related statements of operations and retained earnings and cash flows for each of the years in the two year period ended August 31, 2007. In addition, Kempisty & Company reviewed management's prepared consolidated financial statements for the Registrant for the quarters ended November 30, 2007 and February 29, 2008. The reports of Kempisty & Company on the audited financial statements for the past two fiscal years contained no adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
"We are pleased to welcome Malone & Bailey, PC as our new independent auditor," commented Mr. Shouren Zhao, the chairman and CEO of Runji Cement. "We intend to work closely with the accounting firm in order to insure accurate and consistent financial information continues to be disseminated to the investor community."
About China Runji Cement, Inc.
China Runji Cement ("Runji or the Company") is one of the leading players in cement production and distribution in Anhui Province, China. The Company's certified manufacturing facilities contain cutting-edge technology and advanced equipment that are capable of producing one million tons of cement annually. Runji's main products are PII52.5 cement and PO42.5, PO32.5 and PC32.5 silicate cement sold under the "Runji" brand. The Company's solid client base and customer-orientated services have allowed Runji to dominate the local cement market. For more information on the Company and its products, please visit http://www.chinarunji.com/index.asp.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statement" as defined in the Private Securities Litigation Reform Act of 1995. These forward looking statements are often identified by the use of forward-looking terminology such as "believes, expects, anticipate, optimistic, intend, will" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.