VIENNA, Va., Aug. 20, 2008 (GLOBE NEWSWIRE) -- Ariel Way, Inc. (OTCBB:AWYI) today made the following statement:
"On August 19, 2008, we had prepared for filing our quarterly report 10-QSB for the nine-month period ended June 30, 2008. However, in our final review with our auditors of the report, we decided not to file but to continue to enhance, among others, the reporting related to the statements of cash flows. These statements of cash flows build on the filing from the previous report, and we want to make sure that they properly tie together. On an unaudited proforma basis, the report shows, as expected, good revenues with strong positive net operating income. We believe we are still on target for the financial performance of the Company for the year.
We regret the delay with the filing, but our outside accountants will continue to work diligently with management to complete the enhancements and file at earliest."
About Ariel Way, Inc.
Ariel Way, Inc., a Florida corporation ("Ariel Way" or the "Company"), is a technology and services company for highly secure global communications, multimedia and digital signage solutions and technologies. The Company is focused on developing innovative and secure technologies, acquiring and growing profitable advanced technology companies and global communications service providers and creating strategic alliances with companies in complementary product lines and service industries.
More information about Ariel Way can be found on the web at http://www.arielway.com.
Forward-Looking Statements: Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements," which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. See the Company's Form 10-KSB for the fiscal year ended September 30, 2007 for a discussion of such risks, uncertainties and other factors. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. These forward-looking statements are based on management's expectations as of the date hereof, and the Company does not undertake any responsibility to update any of these statements in the future.