China Agritech Engages New Independent Auditor
April 25 2008 - 9:00AM
PR Newswire (US)
BEIJING, April 25 /Xinhua-PRNewswire-FirstCall/ -- China Agritech,
Inc. (OTC:CAGC) (BULLETIN BOARD: CAGC) ("China Agritech"), a
leading liquid fertilizer manufacturer in China, today announced
that it has engaged Grobstein, Horwath & Company, LLP
("Grobstein, Horwath & Co."), a Horwath International firm, as
its new independent auditor, effective April 18, 2008. Grobstein,
Horwath & Co. replaces Kabani & Co. LLP ("Kabani &
Co."), which was dismissed on April 18, 2008. The decision to
change accountants was recommended, authorized and approved by the
Company's board of directors. China Agritech had no disagreements
with Kabani & Co. from the time of the initial engagement to
its dismissal, including the Company's most recent fiscal year and
the subsequent interim period, on any matter of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedure, which, if they had not been resolved
to Kabani & Co.'s satisfaction, would have caused them to make
reference to the disagreements in their reports on the Company's
financial statements. "We are pleased to engage Grobstein, Horwath
& Co. as our new independent auditor and look forward to
working with them in the future," commented Mr. Yu Chang, Chief
Executive Officer of China Agritech. About China Agritech Inc.
China Agritech is engaged in the development, manufacture and
distribution of organic liquid compound fertilizers and related
products in the People's Republic of China. The Company has
developed proprietary formulas that provide a continuous supply of
high-quality agricultural products while maintaining soil
fertility. The Company sells it products to farmers located in
twenty provinces of China including: Hainan, Anhui, Hubei, Jiangsu,
Jiangxi, Guangxi, Liaoning, Shanxi Heilongjiang, Hebei, Jilin,
Shandong, Inner Mongolia, Henan, Sichuan, Guangdong, Xinjiang,
Yunnan, Chongqing and Guizhou. For more information visit
http://www.chinaagritechinc.com/ . For more information, please
contact: CCG Elite Investor Relations Crocker Coulson, President
Tel: +1-646-213-1916 Email: China Agritech, Inc. Kelviz Lim Kok
Siak, VP of Finance Tel: +86-10-5962-1220 Email: DATASOURCE: China
Agritech, Inc. CONTACT: Crocker Coulson, President of CCG Elite
Investor Relations, +1- 646-213-1916, or ; Or Kelviz Lim Kok Siak,
VP of Finance of China Agritech, Inc., +86-10-5962-1220, or
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