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FOR
IMMEDIATE RELEASE
Media
Contact:
Rob Goldstone/David Wilson
Oui 2 Public Relations 212 541 5698
FreeHand
Systems Announces Change in Auditors.
NEW
YORK, New York / LOS ALTOS, Calif., June 26, 2007 FreeHand Systems,
Inc., wholly owned subsidiary of FreeHand Systems International,
Inc. (OTC:FSYI), announced today that its Board of Directors
has determined not to renew its engagement of BDO Seidman LLP
("BDO") as the Company's independent registered public
accounting firm ("auditors"), and decided to engage
Burr, Pilger & Mayer LLP ("BPM") to serve as the
Company's independent registered public accounting firm for the
fiscal year ended March 31, 2007.
Kim Lorz,
CEO stated, “We appreciate BDO’s professionalism
and service during the past four years, but we feel that BPM
is more suited to serve our current needs. We look forward
to working with BPM in the coming weeks and years.”
In connection
with the audits of the Company's consolidated financial statements
for each of the two most recent fiscal years ended March 31,
2006 and 2005, there were no disagreements between the Company
and BDO on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure,
which disagreements, if not resolved to the satisfaction of BDO,
would have caused BDO to make reference in connection with their
opinion to the subject matter of the disagreement.
During the
Company's fiscal years ended March 31, 2006 and 2005 and through
March 31, 2007, BPM has not been engaged as an independent registered
public accountant to audit the Company's consolidated financial
statements, nor has BPM been consulted regarding the application
of the Company's accounting principles to a specified transaction,
either completed or proposed, or the type of audit opinion that
might be rendered on the Company's consolidated financial statements.
Burr Pilger & Mayer
LLP (BPM) is a 260-person accounting and business consulting
firm with offices in San Francisco, Palo Alto, San Jose and Walnut
Creek, California. BPM is registered with the Public Company
Accounting Oversight Board and serves as auditor to many public
and private companies. Internationally, BPM is a member of both
The Leading Edge Alliance and The International Accounting Group
(TIAG). These associations each maintain a body of outstanding
Certified Public Accounting firms committed to exchanging ideas,
information and expertise.
FreeHand Systems,
Inc. (www.freehandsystems.com), a wholly owned subsidiary of
FreeHand Systems International, Inc. (OTCO:FSYI), is the developer
and manufacturer of the first music performance and education
tablet, the MusicPad Pro® Plus, the world’s only digital
sheet music tablet which can store literally a limitless number
of sheet music pages. The environmentally friendly pad allows
the operator to download from its online catalog or scan in any
piece of sheet music, which then converts to the pad’s
template. The user is then able to annotate or make corrections,
including changing the key of entire compositions in a matter
of seconds. The pad additionally contains a zoom-in/zoom-out
feature, an extensive library of notation symbols, a half-page
turn option (for look-ahead viewing in portrait mode) as well
as a back-lit device (making external stand lighting unnecessary).
The MusicPad Pro is accessibly priced at US$899.
In addition to
the MusicPad, the company is the global leader in digital sheet music
publishing and its website, Freehandmusic.com is the Internet’s
largest online sheet music catalog, with over 90,000 titles. Making
physical deliveries and exhausting retail searches a thing of the
past, FreeHand online users and its sheet music retailers are able
to digitally download music to their hard drives, printers or to
FreeHand’s MusicPad Pro in a matter of seconds.
Investor Contact:
650-941-0742 (Investor Relations)
investorrelations@freehandsystems.com
Note
to editors: For additional information visit FreeHand System’s
website, www.freehandsystems.com.
FreeHand Systems,
Inc., MusicPad Pro®, MusicPad Pro® Plus,
MusicPad Maestro™ are trademarks of FreeHand Systems, Inc.
This press
release contains forward-looking information within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), including statements regarding
potential sales, the success of the company's business, as well
as statements that include the word "believe" or similar
expressions. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of FreeHand Systems
International, Inc. to differ materially from those implied or
expressed by such forward-looking statements. Such factors include,
among others, the risk factors included in FreeHand Systems International,
Inc.'s Annual Report and any subsequent reports filed with the
SEC under the Exchange Act. This press release speaks as of the
date first set forth above and FreeHand Systems International,
Inc. assumes no responsibility to update the information included
herein for events occurring after the date hereof. Actual results
could differ materially from those anticipated due to factors
such as the lack of capital, timely development of products,
inability to deliver products when ordered, inability of potential
customers to pay for ordered products, and political and economic
risks inherent in international trade.
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