SOURCE: INfe Human Resources, Inc.

February 05, 2007 10:45 ET

INfe Human Resources Engages Leading Audit Firm to Ensure Firm Foundation for Financial Growth

LAS VEGAS, NV -- (MARKET WIRE) -- February 5, 2007 -- INfe Human Resources, Inc. (OTCBB: IFHR), an innovative corporate financial consulting company acquiring and accelerating the growth of businesses in the $70 billion staffing industry, today announced the engagement of Miller, Ellin & Co., LLP as its new independent auditor. Leading certified public accounting and audit firm Miller, Ellin will audit the company's financial statements and internal controls to ensure compliance and safeguard shareholder value as INfe Human Resources continues its rapid expansion and financial growth.

INfe Human Resources CEO Arthur D. Viola commented: "INfe Human Resources is growing quickly. We have acquired four revenue-generating staffing companies and significantly increased both their sales and operational performance. We have moved from the development to the business stage and posted three consecutive quarters of substantial revenue increases. As we continue to execute our roll-up acquisition strategy and expand our consulting business, we have put the pieces in place to ensure a firm financial infrastructure to support our current and future growth. Miller, Ellin is a highly experienced and respected audit firm. We believe our shareholders will approve of our decision to engage such a high caliber organization."

Mr. Viola continued: "Last week we received a highly positive valuation of our major acquisitions from third party valuation firm ValueScope, Inc. We requested the valuation to assess the goodwill impairment reported in our 2006 fiscal year-end financials. We have submitted the valuation to Miller, Ellin in order to evaluate a positive adjustment of EBITDA. We believe a positive adjustment would be a significant stride toward meeting the earnings criteria for a listing on the American Stock Exchange."

Miller, Ellen is a well-established Certified Public Accounting firm that has built a sterling reputation serving clients with accuracy, fairness and impartiality for more than 50 years. Based in New York City, Miller, Ellin is a registered public accounting firm with the PCAOB and a member of the Center for Public Company Audit Firms of the AICPA.

For futher information, contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127.

About INfe Human Resources, Inc. (OTCBB: IFHR)

INfe Human Resources, Inc. is an innovative financial consulting company engaged in roll-up acquisitions of staffing businesses in high-margin market niches. To date the company has acquired and provided strategic direction to four staffing companies, resulting in significant revenue increases, expanded service offerings, reductions in back office costs and increased market share. In addition to taking advantage of major growth and opportunity for consolidation in the staffing market, as principals, INfe Human Resources offers capital and corporate financial consulting services to OTC Bulletin Board companies through its wholly owned Daniels Corporate Advisory Company subsidiary. INfe Human Resources' management team leverages a record of individual success in driving the growth of emerging companies to help consulting clients identify advantageous market niches and execute profitable roll-up acquisitions, with the objective of achieving high-level sales and earnings growth and the Wall Street valuation they need for an Amex or NASDAQ listing.

Safe Harbor

Statements contained herein, and other data, may constitute forward-looking statements. When used in this document, the words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements regarding events and financial trends, which may affect the Company's future operating results and financial position. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statement.

Contact Information

  • Contact
    Rich Kaiser
    Investor Relations
    YES INTERNATIONAL
    800-631-8127