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Sunrise Real Estate Group, Inc. Will Restate the Previous Financial Statements

2008-08-21 18:57 1668

SHANGHAI, China, Aug. 21 /Xinhua-PRNewswire/ -- The Securities and Exchange Commission has provided Sunrise Real Estate Group, Inc. (OTC Bulletin Board: SRRE; website: http://www.sunrise.sh ) with written comments concerning the SRRE’s Form 10-K for the fiscal year ended December 31, 2006, particularly with respect to certain revenue recognition policies. SRRE followed these policies commencing in the fiscal year 2005. In response to these comments, SRRE has decided restate the financial disclosure in certain of its previously filed financial statements. Previously filed financial statements for the fiscal year ended December 31, 2005 and subsequent periods cannot be relied upon prior to filing the restated financial statements for such periods.

Forward Looking Statements

The common stock of Sunrise Real Estate Group, Inc. is quoted and traded on the OTC Bulletin Board under the trading symbol “SRRE”. This press release contains forward-looking information within the meaning of section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forwarding-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company’s expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties, but there can be no assurance that management’s expectations, beliefs or projections will result, or be achieved, or accomplished.

Source: Sunrise Real Estate Group, Inc.
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Keywords: Real Estate
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