SAN JUAN CAPISTRANO — Wiz Technology Inc. has hired its second accounting firm in three months to serve as the software company's independent auditors.
Cacciamatta Accountancy Corp. of Irvine was hired to replace Grant Thornton LLP, which resigned last week, Wiz said Tuesday. Grant Thornton had replaced Coopers & Lybrand LLP, which resigned in August as the company's auditors.
The company said that Grant Thornton, which was hired as auditor in late September, has not issued a report on the company's financial statements. Trading in Wiz shares on the American Stock Exchange has been halted since Nov. 11, when the exchange was notified that the company would not meet a Nov. 13 deadline for filing its annual report with the Securities and Exchange Commission. Resumption of trading is not expected until the report for the year ended July 31 is filed.
The company also reported that it lost $248,663, or 3 cents a share, for the fiscal first quarter, which ended Oct. 31. This included charges of $252,000 for depreciation and other items. A year ago, the company earned $400,652, or 5 cents a share. Revenue fell 35% to $1.3 million from $2 million. The company attributed the revenue decline to an anticipated lackluster Christmas season, with retailers placing seasonal orders later in the year.