MIAMI, July 1, 2011 /PRNewswire/ -- Simulated
Environment Concepts (SMEV.PK), the manufacturer and developer of
medical, aesthetic, weight loss, wellness, and slimming equipment,
announced today that the Company has entered into what they believe
may be the final phase of the audit.
Management expects that much of the difficult items in prepping
the audit are nearly behind them. The company believes it is
much more knowledgeable today about the auditing process than they
were when the first timeline was assessed. At present,
barring the unforeseen, management contends there is greater
comfort in expecting the audit's completion by the end of this
third quarter or inside of October.
Allen Licht, Chief Operating
Officer of Simulated Environment Concepts (SE Concepts) stated,
"The auditing process is certainly more thorough than anticipated;
having to make many more considerations than one may anticipate.
So far it's been a great learning experience… expensive, but
important for us to go through as a public entity. Of course,
the end result will be worthwhile for all of our shareholders."
Mr. Licht concluded, "Our counsel and financial compliance
consultants are diligently working and reviewing all of our
financial information in preparation for what we can only hope will
be an easy and smooth transition to the OTCQB. We are
certainly excited about completing this audit and up-listing as the
next two quarters are sure to continue the growing investment
interest in our company and the rapid sales growth of our
products."
Further updates on the audit and other important news will be
posted over the next week on the corporate blog
(www.spacapsule.wordpress.com) as well as on Facebook
(www.facebook.com/SpaCapsule) and twitter
(www.twitter.com/spacapsule).
About Simulated Environment Concepts, Inc.
Simulated Environment Concepts, Inc. (SE Concepts) (SYMBOL:
SMEV) is an industry leading manufacturer and developer of cutting
edge medical, health and wellness equipment promoting relaxation,
physical rehabilitation, weight loss, slimming and cellulite
reduction.
SE Concepts was established in 2000 by doctors dedicated to
advancements in medical technology and aesthetics. Its
flagship product, SpaCapsule®, which is currently distributed in
over 37 countries, is a robotic massage therapy system used for
medical rehabilitation, relaxation, weight loss, slimming,
cellulite management and general wellness.
Safe Harbor
Statements in this news release that are not historical facts,
including statements about plans and expectations regarding
products and opportunities, demand and acceptance of new or
existing products, capital resources and future financial results
are forward-looking. Forward-looking statements involve risks and
uncertainties which may cause the Company's actual results in
future periods to differ materially from those expressed. These
uncertainties and risks include changing consumer preferences, lack
of success of new products, loss of the Company's customers,
competition and other factors discussed from time to time in the
Company's filings with the Securities and Exchange Commission.
SpaCapsule is a registered trademark of Simulated Environment
Concepts, Inc.
For more information on SE Concepts, SpaCapsule®, PTjetCapsule™
and Celude Laboratories™ products you can visit the company's
product website at www.spacapsule.com, the corporate website
at www.seccorporation.com, the corporate blog at
http://www.spacapsule.wordpress.com, facebook at
http://www.facebook.com/SpaCapsule or request more information via
email at ir@spacapsule.com, or call at (888) 757-0797 or (305)
651-9200.
Contact:
Simulated Environment Concepts
Investor Relations Department
(888) 757-0797
SOURCE Simulated Environment Concepts, Inc.