Costar Technologies, Inc. Appoints BKD As Its New Independent Public Accounting Firm

COPPELL, Texas, Nov. 30, 2017 /PRNewswire/ -- Costar Technologies, Inc. (OTC Markets Group: CSTI) today announced that it has appointed BKD CPAs & Advisors LLP ("BKD") as its new independent public accounting firm, effective November 15, 2017. The decision to engage BKD was made by the Company's Audit Committee, acting on behalf of the Company's Board of Directors. BKD was recognized as the 12^th largest accounting firm by revenue by the accountingTODAY Top 100 Firms list and have been included in the INSIDE Public Accounting Best of the Best Firms list for the last seven years.

The Company's Audit Committee dismissed RSM US LLP ("RSM"), its current accounting firm, as the Company's independent public accounting firm for the 2017 fiscal year due to proposed changes in the cost of services. The reports of RSM on the Company's financial statements for each of the two most recently completed fiscal years did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. In connection with the audits of the Company's financial statements for the two most recently completed fiscal years and in the subsequent interim period through November 14, 2017, (i) there were no "disagreements" (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K) with RSM on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures which, if not resolved to the satisfaction of RSM would have caused RSM to make reference to the matter in their report and (ii) there were no "reportable events" (within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K).

During the two most recent fiscal years of the Company and during the subsequent interim period through November 14, 2017, neither the Company, nor any person on its behalf, consulted with BKD regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, (ii) the type of audit opinion that might be rendered on the Company's financial statements, and BKD did not provide any written report or oral advice to the Company that BKD concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue, or (iii) any of the matters or events set forth in Item 304(a)(2) of Regulation S-K.

About Costar Technologies, Inc.

Costar Technologies, Inc. develops, designs, manufactures and distributes a range of security solution products including surveillance cameras, lenses, digital video recorders and high-speed domes. The Company also develops, designs and distributes industrial vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting faults in the production process. Headquartered in Coppell, Texas, the Company's shares currently trade on the OTC Markets Group under the ticker symbol "CSTI". Costar was ranked 41 in a&s magazine's Security 50 for 2016. Security 50 is an annual ranking of the world's largest security manufacturers in the areas of video surveillance, access control and intruder alarms and is based on financial performance.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements that are subject to substantial risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. You can identify forward-looking statements by words such as "believe," "may," "estimate," "continue," "anticipate," "intend," "plan," "expect," "predict," "potential," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations but they involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of the risks and uncertainties.

You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information, except to the extent required by applicable laws.

SOURCE Costar Technologies, Inc.