StratoComm Implements Enhanced Internal Systems

ALBANY, N.Y., July 28 /PRNewswire-FirstCall/ -- StratoComm Corporation (STCO) -- Since its May 1st engagement of Mr. Raymond Lasky as its fulltime CFO, StratoComm has introduced enhanced internal financial systems and controls which in turn have supported final preparation for selection of a public accounting firm to audit the company's financials and subsequently assist the company to become a fully reporting listing on a major stock exchange.  

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StratoComm's management understands the importance of providing audited financials to its shareholders and institutional investors as an integral part of its intermediate and long term financial strategy.  Selection and engagement of an auditing firm to support this important step is planned for the end of this month.

StratoComm's move from development stage to full operations, as anticipated, has increased the necessity of internal financial and project management controls specific to the anticipated demands of the production and delivery of contracted systems.  With internal financial controls implemented the company will complete its review and selection of critical project management systems to support its continued progress.

"In addition to supporting StratoComm's intended move to a major stock exchange, the selected financial controls, as implemented, will enhance the support management requires in the production and operational demands as they increase through the balance of this year," stated StratoComm CEO, Roger D. Shearer.

StratoComm Corporation is a developer and provider of telecommunications infrastructure technologies with a specific focus to the delivery of ubiquitous and cost sensitive communication services to the developing world. The company is further committed to the allocation of a portion of each system's service capacity for the provision of low cost/no cost social and economic outreach programs.

Safe Harbor Disclosure -- This Press Release contains or incorporates by reference "Forward-looking statements," including certain information with respect to plans and strategies of StratoComm Corporation. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including StratoComm Corporation beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to StratoComm Corporation as of such date. There are a number of important factors that could cause actual events or actual results of StratoComm Corporation and its subsidiaries to differ materially from those indicated by such forward looking statements.

SOURCE StratoComm Corporation

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