Oralabs (NASDAQ:OLAB)
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OraLabs Holding Corp. (NASDAQ: OLAB) announced today
that Ehrhardt Keefe Steiner & Hottman, P.C. ("EKS&H") has resigned as
the Company's independent accountant and the Company retained GHP
Horwath as its new independent accountant. EKS&H's report on the
Company's financial statements for the fiscal years ended December 31,
2004 and December 31, 2003 did not contain an adverse opinion or a
disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope or accounting principles. The decision to
retain the new accountants was recommended and approved by the
Company's audit committee and Board of Directors.
During the Company's fiscal years ended December 31, 2004 and
2003, and the subsequent interim periods preceding EKS&H's
resignation, there were not disagreements between the Company and
EKS&H on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of EKS&H, would
have caused EKS&H to make reference to the subject matter of the
disagreement(s) in connection with their report, nor were there any
reportable events as defined in Item 304(a)(1)(iv)(B) of Regulation
S-B.
OraLabs, Inc. manufactures Ice Drops(R) brands oral care products;
Sour Zone(TM) brands sour products; and Lip Rageous(R), Lip
Naturals(R), Chap Ice(R), Extra Lip Moisturizer, Leashables(R),
Chapgrip(R), Soothe & Shine(R) brands of lip balm. The product line
includes breath drops and sprays, sour drops and sprays, lip balms and
a variety of private label products. The Company distributes 5HTP, as
its only dietary supplement; additionally the Company distributes
Sanell (TM) hand sanitizer and Eyelieve (TM) sterile eye products. The
Company's products are currently sold in the USA nationally as well as
numerous foreign countries. The products are sold through wholesale
distributors as well as by direct sale to mass retailers, grocery
stores, convenience stores and drug stores.
Forward-Looking and Cautionary Statements
Except for historical information and discussions contained
herein, statements included in this release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve a
number of risks, uncertainties, and other factors that could cause
results to differ materially, as discussed in the Company's filings
with the Securities and Exchange Commission.