These risks include those described in Lime Energy's
most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy's subsequent SEC filings; such factors are incorporated here by reference.
Lime Energy Co.
Jeffrey Mistarz, 704-892-4442
Oâ€™Rourke and Mistarz
informed the Companyâ€™s
directors of the preliminary results of the internal review. A meeting of the Audit Committee was held on Sunday, July 15, 2012.
Mistarz, internal staff and the forensic accountants reviewed over 11,000 projects and 36,000 transactions. The review led to the discovery of misreporting of revenues from the public sector division, including evidence suggesting that there had been misreporting of revenues in the years ended December 31, 2008 and 2009.