TORONTO, ONTARIO--(Marketwired - May 8, 2013) - AirIQ Inc. (TSX VENTURE:IQ) today announced a change of auditors.
The Board of Directors of AirIQ Inc. (the "Company") have appointed McGovern, Hurley, Cunningham, LLP ("MHC") as auditors of the Company, replacing the firm, BDO Canada LLP ("BDO").
The decision to change auditors was not the result of any disagreement between the Company and BDO on any matter of accounting principals or practices, financial statement disclosure, or auditing scope or procedure. The resignation of BDO and the appointment of MHC as the successor auditor have been approved by the Audit Committee and the Board of Directors of the Company. There were no reservations in the former auditor's reports for the two most recently-completed fiscal years or for any period subsequent to the most recently-completed period for which an audit report was issued and preceding the date of the former auditor's resignation. There were no reportable events between the Company and BDO or between the Company and MHC.
In accordance with regulatory requirements, AirIQ has filed a Notice of Change of Auditor ("Notice") and has received a response letter from BDO, the former auditor, confirming their agreement with the information provided in the Notice. The Company has also received a response from MHC, the successor auditor, confirming their agreement with the information provided in the Notice. The Notice and response letters have been filed on SEDAR.
AirIQ would like to thank BDO Canada for their past services.
AirIQ currently trades on the TSX Venture Exchange under the symbol IQ. AirIQ's office is located in Pickering, Ontario, Canada. The Company offers a suite of asset management services that generate recurring revenues from each device deployed. AirIQ delivers services to two primary markets: Commercial Fleets and dealers that service Consumer segments. AirIQ provides vehicle owners with the ability to monitor, manage and protect their mobile assets. Services include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts and vehicle disabling and unauthorized movement alerts. For additional information on AirIQ or its products and services, please visit the Company's website at www.airiq.com.
This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "hope", "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.