Recon Technology Announces Engagement of Bernstein & Pinchuk LLP as Auditor
October 19 2009 - 4:15PM
Business Wire
Recon Technology, Ltd. (Nasdaq:RCON), a leading Chinese
non-state-owned oil and gas automation services provider, announced
today the appointment of Bernstein & Pinchuk LLP (B&P) to
serve as the company's independent registered public firm,
effective October 15, 2009. B&P, an independent member of the
BDO Seidman Alliance, replaces the company's previous independent
registered public accounting firm, Hansen Barnett & Maxwell,
P.C. (HBM).
"We have had a positive relationship with HBM and appreciate
their dedicated services," said Shenping Yin, the CEO of Recon
Technology, "Moving forward, the board has determined that
Bernstein & Pinchuk offers our shareholders a strong
combination of quality services, experience working with companies
in China and cost-efficiency. We look forward to working with their
team."
There have been no disagreements with HBM on any matter of
accounting principles or practices, financial statement disclosure
or auditing scope or procedures.
The appointment of B&P as the new auditor has been approved
by the company's Audit Committee and Board of Directors. The
company reported its decision to change accounting firms to the
Securities and Exchange Commission today, in a Form 8-K filing.
About Bernstein
& Pinchuk LLP
Based in both New York and Beijing, B&P is an international
group of professionals providing audit and assurance, tax and
transaction advisory services. B&P is an independent member of
the BDO Seidman Alliance, allowing the company to provide its
clients with vast resources and technical knowledge without high
overhead costs. With offices in New York, Beijing and Guangzhou,
B&P has the cultural understanding, knowledge, and support
needed to efficiently serve and advise our clients. B&P is an
outstanding firm committed to offering the highest level of
expertise and value.
About Recon Technology,
Ltd.
Recon Technology, Ltd. has been providing leading Chinese oil
and gas companies with automation services that increase efficiency
and profitability in exploring, extracting, producing, processing,
refining and transporting petroleum products for over 10 years. The
company’s proprietary computerized process control system manages
oil production in real-time to increase extraction levels, reduce
impurities in extracted petroleum and lower production costs. In
addition, as one of only two acoustic system providers in the
world, Recon’s acoustic pipeline monitoring system is widely used
to prevent gas leakage in the transport pipeline. Recon's
technology is based on three software copyrights, eight product
patents and four pending patents. Recon Technology is the first
Chinese non-state-owned oil and gas service company to go public in
the U.S. More information may be found at http://www.recon.cn or
e-mail: recon@hawkassociates.com.
Recon's online investor kit, including an investment profile,
press releases, current price quotes, stock charts and more is
available at http://www.hawkassociates.com/profile/rcon.cfm. To
receive notification of future releases via e-mail, subscribe at
http://www.hawkassociates.com/about/alert/.
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