EuroSoft Corporation Announces It Will Be Unable to Timely File Its Form 10-KSB With the SEC

Apr 17, 2001, 01:00 ET from EuroSoft Corporation

    LAKE WORTH, Fla., April 17 /PRNewswire/ --
 EuroSoft Corporation (OTC Pink Sheets:   ERST) will be unable to timely file its
 Form 10-KSB with the Securities and Exchange Commission due to severe
 liquidity issues.  The Company's diverse U.S. and European holdings require a
 substantial audit team to complete the financial statements in compliance with
 the rules and regulations of the U.S. Securities and Exchange Commission.
 With limited capital available to the Company after an inability over the past
 3 years to generate positive cash-flow in the IT services industry, the
 Company currently finds itself unable to keep up with filing requirements in
 its ongoing attempt to become fully reporting with the SEC and thus achieve
 relisting on the NASD Over-the-Counter Electronic Bulletin Board Exchange.
     The Company also must announce that it has been notified that two of its
 three remaining directors, Mr. Nigel Kaufman and Mr. Joerg Zimmermann, are
 both leaving the Company in order to pursue other opportunities.  The Company
 does not believe any of its ongoing business will prove viable in the near
 future.  The sole remaining board member will be meeting with attorneys and
 advisors in order to determine the future action of the Company.
 
     Statements contained in this press release that are not based upon current
 or historical fact are forward-looking in nature.  Such forward-looking
 statements are subject to risks and uncertainties, which could cause actual
 results to differ materially from estimated results.  Management cautions that
 all statements as to future results of operations are necessarily subject to
 risks, uncertainties, and events that may be beyond the control of EuroSoft
 Corporation and no assurance can be given that such results will be achieved.
 Potential risks and uncertainties include, but are not limited to, the ability
 to procure, properly price, retain, and successfully complete projects, the
 availability of technical personnel, changes in technology, and competition.
 For purposes of disclosure, the Company has received assistance in the
 drafting of this news release by the Company's shareholder relations agent,
 who receives three-thousand dollars on a month-to-month basis for providing
 such shareholder relations services.
 
 

SOURCE EuroSoft Corporation
    LAKE WORTH, Fla., April 17 /PRNewswire/ --
 EuroSoft Corporation (OTC Pink Sheets:   ERST) will be unable to timely file its
 Form 10-KSB with the Securities and Exchange Commission due to severe
 liquidity issues.  The Company's diverse U.S. and European holdings require a
 substantial audit team to complete the financial statements in compliance with
 the rules and regulations of the U.S. Securities and Exchange Commission.
 With limited capital available to the Company after an inability over the past
 3 years to generate positive cash-flow in the IT services industry, the
 Company currently finds itself unable to keep up with filing requirements in
 its ongoing attempt to become fully reporting with the SEC and thus achieve
 relisting on the NASD Over-the-Counter Electronic Bulletin Board Exchange.
     The Company also must announce that it has been notified that two of its
 three remaining directors, Mr. Nigel Kaufman and Mr. Joerg Zimmermann, are
 both leaving the Company in order to pursue other opportunities.  The Company
 does not believe any of its ongoing business will prove viable in the near
 future.  The sole remaining board member will be meeting with attorneys and
 advisors in order to determine the future action of the Company.
 
     Statements contained in this press release that are not based upon current
 or historical fact are forward-looking in nature.  Such forward-looking
 statements are subject to risks and uncertainties, which could cause actual
 results to differ materially from estimated results.  Management cautions that
 all statements as to future results of operations are necessarily subject to
 risks, uncertainties, and events that may be beyond the control of EuroSoft
 Corporation and no assurance can be given that such results will be achieved.
 Potential risks and uncertainties include, but are not limited to, the ability
 to procure, properly price, retain, and successfully complete projects, the
 availability of technical personnel, changes in technology, and competition.
 For purposes of disclosure, the Company has received assistance in the
 drafting of this news release by the Company's shareholder relations agent,
 who receives three-thousand dollars on a month-to-month basis for providing
 such shareholder relations services.
 
 SOURCE  EuroSoft Corporation