Sept. 18, 2009
Fuego Enterprises, Inc. Updates
Shareholders On Its Decision Not to Continue as a Reporting Company
MIAMI, Sept. 18, 2009 (GLOBE NEWSWIRE) -- On August 10, 2009, the Board
of Directors of Fuego Enterprises, Inc. (Pink Sheets:FUGI) dismissed Moore
& Associates Chartered, its independent registered public accounting firm.
On the same date, August 10, 2009, the accounting firm of Seale and Beers,
CPAs was engaged as Fuego's new independent registered public accounting
firm.
We made this decision based on information we received that our prior
auditor was sanctioned by the SEC for substandard auditing and that meant
a re-audit for fiscal 2008 was required. At present our new auditor is not
able to re-audit 2008 in time to file Form 10-K to incorporate both years.
Due to anticipating an E symbol on the account for more than 30 days and
no approval to defer beyond that date by NASDAQ or the SEC, it was decided
at this time to not continue as a reporting company, which by default
requires Fuego to become a pink sheet company. Fuego intends to continue
filing its financial statements while on the pink sheets; we also intend
to file unaudited financial statements in the near future.
About Fuego Enterprises, Inc.:
Fuego Enterprises, Inc. is a diversified holdings company with
operations in media and entertainment, telecommunications, and other
industries currently under development. Fuego Entertainment is based in
the U.S. with a focus on Latin markets. For more information, please visit
Fuego Enterprises at
www.fuegoentertainment.net
This press release contains statements, which may constitute
forward-looking statements within the meaning of the Securities Act of
1933 and the Securities Exchange Act of 1934, as amended by the Private
Securities Litigation Reform Act of 1995. Those statements include
statements regarding the intent, belief or current expectations of Fuego
Enterprises, Inc., members of their management, and assumptions on which
such statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may differ
materially from those contemplated by such forward-looking statements.
