COLORADO SPRINGS, Colo., May 18, 2004 (PRIMEZONE) -- Maximum Dynamics, Inc. (OTCBB:MXDY), a projects management and back office services company with subsidiaries focused on technology solutions, mobile logistics and wireless communications, filed an extension for its first quarter filing with the Securities and Exchange Commission yesterday.
"I want to assure our shareholders that there is no problem with our financials or operations," said Joshua Wolcott, Maximum's CFO. "Coordinating audits across three continents and two language barriers can be a little challenging. However, we want to reassure our shareholders that we are taking proactive steps to address this. First, we have recently hired a financial manager who has already helped tremendously in coordinating these audits. Secondly, we are taking measures to move year-ends to December 31 to streamline reporting requirements and align the accounts on the same timeline. Lastly, this quarter we will begin integrating accounting systems so that coordination of the financial reporting can be more centralized."
Management is working with its auditors to complete the reconciliations for the consolidated financials and anticipates it will file the quarterly report soon.
For more information about Maximum Dynamics, Inc., visit the company's website: http://www.maximumdynamics.com.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Maximum Dynamics assumes no obligation to update the information contained in this press release. Maximum Dynamics' future results may be affected by its ability to continue to implement its hedge fund administration services, its newly acquired Internet marketing capabilities, its dependence on procuring highly competitive hedge fund administration contracts, its dependence on hiring and retaining qualified professionals, potential fluctuations in its quarterly operating results, its dependence on certain key employees and its ability to timely and effectively integrate the businesses it may acquire.