Las Vegas (April 2, 2003) - The unavailability of Andersen to audit updated financial statements has caused Mikohn Gaming Corporation to postpone filing of its 10-K for the year ended Dec. 31, 2002.
The company needs to update its financial statements to reflect that it sold a business unit in October 2002. Under Security and Exchange Commission rules, the unit must be reclassified as discontinued in the audited consolidated financial statements, but its former auditor Andersen has essentially disbanded, and new auditors BDO Seidman need more time to re-audit the financials.
Mikohn switched auditors in April 2002. It expects to file its new 10-K by April 15, 2003.
The company noted that the re-audit is merely a procedural matter and doesn’t indicate any inquiry from the SEC or problems with its financials.
-- Electronic Accountant Newswire staff
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