Contact Information: Company Contacts: Douglas J. Kramer, CEO Timothy J. Novak, CFO Michael T. Adams, CGO (281) 219-4700 (t) (281) 219-4701 (f)
LaPolla Engages New Audit Firm
Selects Hein & Associates LLP as Independent Registered Public Accounting Firm
| Source: LaPolla Industries, Inc.
HOUSTON, TX--(Marketwire - July 13, 2007) - LaPolla Industries, Inc. ("LaPolla") (AMEX : LPA ) announced today that the Audit Committee of the Board of Directors of
LaPolla replaced Baum & Company, P.A. as principal accountants of LaPolla
with Hein & Associates LLP, effective July 12, 2007.
The change in accountants resulted from a competitive bidding process in
which a number of middle market regional firms participated with Hein &
Associates LLP being selected.
LaPolla's CEO and President, Douglas J. Kramer, stated, "A Middle Market
Regional Audit Firm was required to support the Company's aggressive
growth." Kramer continued that, "Hein & Associates' acceptance of LaPolla,
in today's cautious climate, sends a clear message of confidence to our
shareholders about LaPolla being a sound and credible business with plenty
of market opportunity."
Timothy Novak, LaPolla's CFO and Treasurer, commented, "We look forward to
a long and mutually beneficial relationship with Hein & Associates. With
their more expansive capabilities, we believe they are the right firm for
the future of LaPolla."
About LaPolla Industries, Inc.
LaPolla Industries, Inc. is a national manufacturer and distributor of foam
and coating products targeting commercial and industrial applications in
the roofing and perimeter insulation construction industries. Additional
information about LaPolla is available on the World Wide Web at
www.lapollaindustries.com.
About Hein & Associates LLP
Hein & Associates LLP is a full-service independent registered public
accounting firm that has been providing a broad range of accounting and
business advisory services to companies of all sizes and in a variety of
industries for 30 years with offices in Denver, Houston, Dallas and
Southern California. Additional information about Hein is available on the
World Wide Web at www.heincpa.com.
Forward-Looking Statements
Statements made in this press release that are not historical facts
constitute "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933, Section 21 of the Securities Exchange Act of
1934 and the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are necessarily estimates reflecting the best
judgment of senior management and express the Company's opinions about
trends and factors which may impact future operating results. Any such
forward-looking statements should be considered in context with the various
disclosures made by the Company about its businesses including, without
limitation, the risk factors described in its periodic reports filed with
the SEC. 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. For further information regarding risks,
uncertainties, and other factors associated with LaPolla's business, please
refer to LaPolla's SEC filings, including, but not limited to, its annual
report on Form 10-K and quarterly reports on Form 10-Q, which are available
at www.lapollaindustries.com.