Elite Logistics Appoints PKF As Auditor
17 October 2000
Elite Logistics Appoints PKF As Auditor
FREEPORT, Texas--Oct. 17, 2000--Elite Logistics Inc. (OTCBB:ELOG), is pleased to advise that the company's board of directors has engaged Pannell Kerr Forster of Texas P.C. ("PKF") as the company's independent accountants for fiscal year 2001. PKF is a legally independent member of PKF International Association. With 150 firms in 107 countries and a turnover of about $U.S. 700 million, PKF International Association ranks among the world's top international business advisory firms.Commenting on the move, Joe Smith, CEO of Elite stated, "PKF is one of the top international audit and advisory services organizations, measured by both turnover and quality. Their focus on the mid-market entrepreneurial community makes them a natural fit for Elite and the right choice to meet our future auditing and advisory needs. We expect to benefit enormously from the expertise of their local folks as well as their international affiliates as Elite expands its presence in the U.S. and abroad."
The accounting firm of Williams and Webster P.S ("WW") had previously represented Elite and its subsidiary companies. During the period for which WW was the company's independent auditors, there were no disagreements between the company and WW on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
About Elite Logistics Inc.:
Elite Logistics Inc. is the parent company of Elite Logistics Services Inc., its wholly owned operating subsidiary, based in Freeport, Texas. Elite Logistics Services Inc. is best known for its patent pending PageTrack(TM) family of Intelligent Vehicle Systems that integrates global positioning systems and two-way wireless telemetry technology to provide Internet-enabled tracking and control of vehicles and other assets. The company provides a comprehensive solution to the logistics needs of fleet managers and the security needs of private vehicle owners. The PageTrack(TM) family of Intelligent Vehicle Systems is distributed within the United States through an expanding network of distributors and dealers. The company has forged a strategic relationship with Motorola and utilizes the paging network of Skytel, a subsidiary of MCI WorldCom . For additional information, visit the company's Internet site at www.elitelog.com.
About Pannell Kerr Forster of Texas P.C.
PKF's Houston office is owned and managed by eight local shareholders, each with an average in excess of 20 years public accounting experience. The office provides professional accounting and advisory services in the areas of audit, corporate and individual tax compliance and planning, estate planning, business systems consulting, litigation support and valuation services, as well as a variety of other technical services. For additional information, visit PKF's Internet site at www.pkftexas.com.
Editorial note: The above news release may contain forward-looking statements as that term is defined by the Federal securities laws. Forward-looking statements discuss future expectations, contain projections of results of operations or of financial conditions, characterize future events or circumstances or state other forward-looking information. Although the company's management believes that the expectations reflected in such statements are based on reasonable assumptions, actual results and outcomes could differ materially from those projected.