PLEASANTON, Calif., July 6, 2005 (PRIMEZONE) -- The Children's Internet, Inc. (OTCBB:CITC), the Company, announced today that on June 29, 2005 the Company was current in its public reporting obligations pursuant to NASD Rule 6530 and subsequently the NASD removed the "E" from its trading symbol and its stock resumed trading as "CITC.OB." Formerly, and for a relatively short period of time, the company had traded as "CITCE.OB." The "E" reflected that the Company had a temporary extension given by NASD to complete its required financial statement filings with the U.S. Securities and Exchange Commission (SEC). On June 9, 2005 it filed its required 10KSB and on June 23, 2005 it filed its required 10QSB with the SEC, putting the Company in compliance with the aforementioned Rule 6530.
"We are delighted to have this chapter successfully behind us," said Ms. Sholeh Hamedani, Co-Founder and CEO of The Children's Internet, Inc. "Clearly this effort was a test of our ability to manage a challenging situation and I am pleased to announce that we passed the test. This situation was largely brought on by our former auditor's 11th hour unwillingness to cooperate with our new auditors. Our new audit firm was then faced with not only conducting an audit of the 2004 year-end financial statements, but also with the daunting task of re-auditing both 2002 and 2003. Our current auditors are a top notch San Francisco accounting firm who have literally gone through the fire with us and I am thrilled to be working with them."
Ms. Hamedani added, "Over the summer we have an ambitious project development plan in order to meet our intended September 2005 'Back to School' marketing and advertising product launch. We are moving aggressively to update the Infomercial, finalize a direct mail campaign with a major parenting magazine, set in place a comprehensive Internet marketing campaign and release our field representative authorized re-seller program. Our investors, and the consumer market, will hear much more about our marketing and sales activities in the next few weeks. With great partners working with us, we are very excited to be moving on multiple fronts at the same time. We have revenue objectives for the fourth quarter that will demand crisp execution of our plans and we readily accept that challenge. We look forward to a very successful launch."
About The Children's Internet:
The Children's Internet, Inc. (TCI), http://www.thechildrensinternet.com/, is the exclusive marketer and distributor of The Children's Internet(r), offering secure, real time access to pre-selected, pre-approved educational and entertaining web pages, designed to be age-appropriate. The Children's Internet provides a child with a rich array of easy to use applications, including secure e-mail, homework help, games, news, super portals to learning activities and virtually limitless educational resources all within its safe, parent-supervised, predator-free and protected online environment. The product is not a filtering or monitoring product. It is unique from all other services because it is protected by its proprietary "safety bubble" security software, SafeZone Technology(r), which offers unprecedented security and control against Internet predators and content that is inappropriate for children.
A membership based service, The Children's Internet is the first, secure Internet "educational super portal" specifically designed for children, pre-school to junior high, providing them with SAFE, real time access to the World Wide Web; access to millions of the best educational and entertaining sites on the Net. Each group has fun and innovative themes from which to choose. The personalization features allow kids to design The Children's Internet to fit their individual personalities.
FORWARD-LOOKING STATEMENTS
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to the Company and its present and planned business and operations. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's and management's ability to control and that actual results may differ materially from those discussed in the forward-looking statements as a result of various factors.
All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.