SAN JOSE, Calif., Nov. 21, 2012 /PRNewswire/ -- Kranem Corporation ("Kranem" or the "Company") (OTCBB: KRAN), a leading global provider of Big Data Software and Security solutions, announced today that it engaged Squar, Milner, Peterson, Miranda & Williamson, LLP ("Squar Milner") as its independent public accounting firm, effective November 16, 2012, replacing De Joya Griffith & company LLC ("De Joya Griffith").
The selection of Squar Milner concludes a thorough process, which the Company concluded as part of its effort to select a global and full-service auditor with the superior services skills to match its needs as a growing company. Kranem believes that the transition from De Joya Griffith to Squar Milner will be smooth and that Squar Milner will have adequate time to prepare for the Company's annual audit.
The change of independent auditors did not result from any disagreement between the Company and its former auditor De Joya Griffith on any matter of accounting principles or practices, financial statement disclosures, or auditing scope or procedure, except for those which were resolved to the satisfaction of both the Company and its former auditor and disclosed in public filings by the Company.
"We are very pleased to engage Squar Milner as our independent auditors," said Kranem's Chairman and Chief Executive Officer, Ajay Batheja. "In conjunction with the growth of Company, we felt the timing was right to retain a "Multi-Services" accounting firm. Squar Milner's experience in the technology sector, coupled with their strong reputation, made them an ideal choice as the independent auditors for Kranem Corporation."
About Kranem/Xalted Group:
The Kranem/Xalted Group is a leading global provider of Big Data Software and Security services to enterprises, law enforcement agencies and government agencies. The Kranem/Xalted Group develops and markets advanced software solutions that enable companies and public organizations, including governments and law enforcement agencies, to capture, manage and analyze structured and unstructured Big data to address security threats and enhance operational performance. The two principal markets that our software solutions address are the enterprise security and the homeland security market. By providing advanced software tools to monitor communications and optimize decision making, the Kranem/Xalted Group helps law enforcement and government agency customers defend against security threats created by terrorists and criminal organizations by providing sophisticated analytics and actionable intelligence solutions. For Enterprise customers, the Kranem/Xalted Group provides software and solutions that are created to improve business performance, increase operational efficiency, maximize revenues and enhance network safety and security.
The company is headquartered in San Jose, California, USA, with additional offices located in Mumbai, Delhi, Bengaluru, and Baddi, India and Rome, Italy. For more information, please visit: www.xaltedcorp.com and/or www.kranem.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and is indicated by words such as "anticipates" and other similar words or phrases. Such forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the company to differ materially from those described herein, including but not limited to the impact of the global economic environment on the company's customer base (particularly telecom and law enforcement agencies) and the resulting uncertainties; changes in technology and market requirements; decline in demand for the company's products; inability to timely develop and introduce new software, services and applications; difficulties or delays in absorbing and integrating acquired operations, technologies and personnel; loss of market share; pressure on pricing resulting from competition; and inability to maintain certain marketing and distribution arrangements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Kranem Corporation undertakes no obligation to publicly release or otherwise disclose the result of any revision to these forward-looking statements that may be made as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Kranem Corporation