Trans Industries (NASDAQ:TRNI)
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Trans-Industries, Inc. Audit Opinion Includes Going Concern
Qualification
ROCHESTER HILLS, Mich., April 20 /PRNewswire-FirstCall/ -- Trans-Industries,
Inc. , today announced, in conformance with Nasdaq's Marketplace Rule
4350(b)(1)(B), that its Form 10-K for the fiscal year ended December 31, 2003,
which was filed on April 14, 2004, contained an audit opinion that included a
going concern qualification. The audit opinion cited the Company's recurring
losses from operations, cash flow difficulties, and the fact the Company is in
default of the terms of its credit facility.
About the Company
The Company is a leading provider of lighting systems and related components to
the mass transit market as well as a supplier of information hardware and
software solutions on Intelligent Transportation Systems (ITS) and mass transit
projects. ITS utilizes integrated networks of electronic sensors, signs and
software to monitor road conditions, communicate information to drivers and
help transportation authorities better manage traffic flow across their
existing infrastructures.
Forward-Looking Statements
Except for statements of historical fact, this news release contains certain
forward-looking statements about the Company. Such statements are subject to
significant risks and uncertainties including changes in economic and market
conditions, management of growth, and other risks noted in the Company's SEC
filings, which may cause actual results to differ materially
Visit Trans-Industries at http://www.transindustries.com/ .
DATASOURCE: Trans-Industries, Inc.
CONTACT: Kai Kosanke, Chief Financial Officer of Trans-Industries, Inc.,
+1-248-852-1990
Web site: http://www.transindustries.com/