Banks.com, Inc. (NYSE Amex:BNX), (the “Company”, “Banks.com”) leading operator of financial services focused media properties and search related websites, today announced it has selected Burr Pilger Mayer, Inc. (“BPM”) to serve as the Company's independent registered public accounting firm for the fiscal year ended December 31, 2010. BPM replaces the Company's previous independent registered accountants, Hacker, Johnson & Smith P.A. (“Hacker, Johnson”).
"We have always enjoyed a very positive relationship with Hacker, Johnson and are grateful for the excellent work they have done for us over the years," said Dan O’Donnell, Chairman and Chief Executive Officer of Banks.com. "However, as the largest CPA firm based in California, we believe BPM is a better fit for us as we move forward. In addition, BPM has extensive relevant experience through their broad client base in internet media.”
The change was recommended by the Company’s Audit Committee. The Company and Hacker, Johnson did not have any disagreement on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures which if not resolved to the satisfaction of Hacker, Johnson, would have caused it to make reference to the subject matter of the disagreement in connection with its report on the Company's consolidated financial statements.
Forward Looking Statements
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. Forward looking statements, which are based on management’s current expectations, are generally identifiable by the use of terms, such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “possible,” “potential,” “predicts,” “projects,” “should,” “would” and similar expressions. These forward looking statements may include statements regarding: management’s expectations regarding our strategy, management’s expectations regarding our growth, the effect of recent events, pending litigation and its potential outcome, and the outlook for our business. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those either stated or implied. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include, among others, slowdown in the financial services vertical; market acceptance of the Banks.com website; introduction of additional competitors in the Internet search services space; diversion of advertising dollars away from the Internet; slower than anticipated growth rate of our advertising base; dependence on our search providers to continue to provide us paid search services; market development of Internet advertising and paid search services; the stability of our infrastructure; and continued weak economic conditions. Further information on the factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2009, our quarterly reports on Form 10-Q and our Current Reports on Form 8-K. Except as required by law, we assume no responsibility to update these forward looking statements publicly, even if new information becomes available in the future.
About Banks.com
Banks.com, Inc. operates Internet media properties that provide targeted online advertising and services primarily in the financial services sector. Through the Banks.com network, the Company provides access to financial content, including financial news, blogs, business articles, interest-rate tables, stock quotes, stock tracking and financial calculators. It also provides users access to financial services, including online tax preparation and tax extensions through the Banks.com Tax Center and online stock brokerage through MyStockFund.com, its online broker-dealer subsidiary. In addition to Banks.com, it operates other search related websites including Look.com. Banks.com, Inc. is headquartered in San Francisco, California at 222 Kearny Street, Suite 550 and can be reached at 415.962.9700. Find up to date information on Mortgage Rates, CD Rates & Home Equity Rates at: Banks.com.
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