|February 10 2005|
The Securities and Exchange Commission has suspended trading in securities of Greentech USA, Inc. (OTCBB: GTEI), Information Architects Corporation (OTCBB: IACH) and Tekron, Inc. (OTCBB: TKRN), citing concerns about recent disclosures by the three companies. The trading suspensions, which became effective on February 10, 2005, will continue for ten days, ending at 11:59 p.m. EST on Feb. 24, 2005.
In issuing the suspensions, the SEC said that questions had been raised regarding (i) the authenticity of the Report of Independent Certified Public Accountants included in the most recent Forms 10-KSB filed by Greentech, Information Architects and Tekron, including whether the audit reports accompanying the financial statements were prepared and issued by the named auditors; and (ii) the accuracy of statements made by each of the companies in amended Forms 10-KSB/A for the year ended Dec. 31, 2003, including statements by Greentech and Information Architects that a second review of their financial statements was being performed by the auditors.
Each of the three companies has indicated that its financial statements were audited by the firm of Russell & Adkins of Oklahoma City, Oklahoma. That is not all Greentech and Information Architects have in common. Both of those companies list the same business address – 6500 NW 15th Avenue, Suite 300, Fort Lauderdale, Florida and the same telephone number, 954-545-8181. They also appear to share a director, Alfred Tracy III.
Now they have a common problem as well.