The Majestic Companies, Ltd. has Engaged Ernst & Young
15 January 1999
The Majestic Companies, Ltd., OTC:BB MJXC, has Engaged Ernst & Young, LLP to be Their Independent Auditor
SAN DIEGO--Jan. 15, 1999--This week, The Majestic Companies, Ltd.,(OTC:BB MJXC), officially engaged the services of Ernst & Young LLP, to be their independent auditor. Year-end 1998 audited financial statements for the Company and it's subsidiaries are scheduled to be completed on or around the last week of February 1999. This milestone has been deemed a priority by management in order to move the Company to "fully reporting" status as quickly as possible.
Also, as of January 14, 1999, the company has appointed ChaseMellon Shareholder Services (Los Angeles division), to act as the Company's Registrar, Transfer Agent, and Dividend Disbursing Agent.
The Company currently owns and manages three operating subsidiaries: Majestic Modular, Ltd., which is located in Modesto, California and manufactures modular classrooms, office buildings, medical facilities and telecommunication equipment shelters; Majestic Financial, Ltd., the leasing and financing arm of the Company, which leases modular buildings to California Unified School Systems, as well as to other users of modular structures; and Majestic Transportation Products, Ltd., a product development company that designs, engineers, and markets transportation related safety equipment, including a proprietary passenger safety restraint product for the school bus industry named the "Safe-T-Bar".
Some of the statements in this press release may constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward looking statement.
Source: The Majestic Companies, Ltd.