(PINBIZ)- Mountasia revises financial picture downwards, changes auditors.

[ros...@mindspring.com]

From the *You always suspected certain operators were sleazy*
file.....

Mountasia Entertainment (Mountasia, Malibu Grand Prix) just revised
it's last three quarterly earning reports downward. This in the wake
of Price-Waterhouse *quitting* as their auditor on September 11. P-W
quit after disagreeing with management over how to record and expense
certai financial transactions.

(Well, it certainly was't the expense of pinball maintenance... ;-/ )

Arthur andersen is now their auditor.

The reports wound up like this:

Quarter ending Dec. 31- loss of 21 cents a share (from 5 cents)

Quarter ending March 31-loss of 11 cents a share (from 6 cents)

Quarter ending June 30- Earnings of 22 cents (from 29 cents).

Mountasia Chair and CEO Scott Demerau had this to say:

"We feel we have taken crucial steps forward in assuring close
compliance with all applicable accounting policies and requirements
going forward"

(Translation, and entirely IMO- "We used to completely cook the books,
but we got caught, so we'll be nice now")

And the beat goes on.....

(info taken from account reported by Bloomberg Business news)

Scott
Scott Piehler- Atlanta, GA

"Ridin' on that lucky Riverboat..."