Carbiz Inc.
TSX VENTURE : CZ

Carbiz Inc.

November 03, 2005 07:00 ET

Carbiz Inc. Files Registration Statement With the U.S. Securities and Exchange Commission

SARASOTA, FLORIDA--(CCNMatthews - Nov. 3, 2005) - Carl Ritter, chief executive officer of Carbiz Inc. (TSX VENTURE:CZ) (Carbiz), reported that Carbiz filed its Form SB-2 registration statement with the U.S. Securities and Exchange Commission (the "SEC"). Filing this registration statement is a significant step for Carbiz as it seeks to list on the U.S. Over-the-Counter Bulletin Board and to de-list from the TSX Venture exchange.

"Filing our registration statement with the SEC is an exciting milestone for Carbiz as it continues to see positive results from its software and auto credit divisions," Ritter said.

Change in Certifying Accountants

Due to the move of Carbiz's senior management and headquarters to Sarasota, Florida, management determined that a change in accountants to a U.S.-based firm was necessary. On October 3, 2005, Carbiz's board of directors engaged Christopher, Smith, Leonard, Bristow & Stanell, P.A. to serve as its principle accountant and independent auditor following the resignation of the Canadian offices of Deloitte & Touche LLP on October 3, 2005. Christopher, Smith, Leonard, Bristow & Stanell, P.A. has been engaged to serve as Carbiz's principle accountant and independent auditor for all periods following the fiscal year ended January 31, 2005.

About Carbiz

Based in Sarasota, Florida, Carbiz is a leading provider of software, training and consulting solutions to the U.S. automotive industry. Carbiz's suite of business solutions includes dealer software products focused on the "buy-here pay-here", sub-prime finance and automotive accounting markets. Carbiz also operates a chain of "buy-here pay-here" dealerships in Florida which are wholly owned and joint venture companies. Carbiz also provides a tax refund service, distributed through automobile dealers across the United States on a seasonal basis. For more information about Carbiz and its services, visit Carbiz's web site: www.carbiz.com.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Carbiz. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Carbiz assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Heidi Smith Communications, Inc.
    Heidi Smith
    Media Contact
    (941) 504-2803
    or
    Carbiz Inc.
    Carl Ritter
    Chief Executive Officer
    (941) 952-9255, ext. 1014
    www.carbiz.com