ATLANTA, May 20, 2005 (PRIMEZONE) -- WinSonic Digital Media Group, Ltd. (OTCBB:WDMGE) is currently in the process of completing its annual report on Form 10-KSB for the year ended December 31, 2004. As previously reported, WinSonic recently changed auditors to De Joya & Company on March 25, 2005. Chavez & Koch, WinSonic's previous auditors elected to withdraw from auditing all public companies. Chavez and Koch did so without dispute with WinSonic. As a result of the recent change and the necessity of providing our new auditors adequate time to gain a comprehensive understanding of our Company, we are unable to meet our filing requirement before the delisting deadline of May 20, 2005. WinSonic is working closely with DeJoya & Company and believes the audit will be completed shortly. The effect of the missed deadline will result in delisting our shares from the OTC Bulletin Board to the Pink Sheets. Management believes the delisting of shares will be temporary and anticipates returning to the OTCBB as soon as our annual audit is complete and current financial statements are submitted to the Securities Exchange Commission.
About WinSonic Digital Media Group
WinSonic Digital Media Group Ltd. is a facilities-based media distribution solutions company with a distinctive video transport concept that enables users to view, interact, and listen to all types of audio, online video, and digital TV, in full-screen format, at high speeds, superb quality, and greatly reduced costs, while reducing the need for expensive high-speed connections.
Statements in this press release are certain statements which are not historical or current fact and constitute "forward-looking statements" within the meaning of such term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual financial or operating results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements are based on our best estimates of future results, performance or achievements, based on current conditions and the most recent results of the company. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "may," "will," "potential," "opportunity," "believes," "belief," "expects," "intends," "estimates," "anticipates" or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and there can be no assurance that the actual results anticipated by the company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the company or its business or operations.