USA: GMCH Updates Reporting Status

By Company Press Release | 28 July 2000

Gourmet's Choice Coffee Co., Inc. (OTC Bulletin Board: GMCH) announced today an update of the progress, regarding the completion of the Company's financial statements. The Company delivered its financial documents to the accountants in February of this year. The accounting firm handling the compilation of the financials and bookkeeping was introduced to GMCH by the Company's auditor. GAAP and SEC rules forbid a company from using the same accountants, for both the internal and external accounting. That is the reason why GMCH is using two accounting firms. The accountants have yet to request any additional information from the Company, regarding the audit. To the best of the Company's knowledge, the two accounting firms are in contact with each other and in the process of preparing the financial statements. Neither accounting firm has yet to inform the Company of any obstacles, with regard to the completion of the financial statements.In related news, the Company announced that rumors stating the Company's accountants are not actively working on the financial statements are completely false.James Tilton, President of GMCH, stated, "I personally share the frustration with each and every shareholder. I want to assure our shareholders that we are delivering all requested documents, to our accountant, in a timely manner."Gourmet's Choice Coffee Co., Inc., is a United States Holding Company whose strategy is the acquisition of both domestic and international beverage companies that complement its existing business, distribution and product lines.For further information contact investor relations at 800-324-3464 or visit