J. KAREAN HENDERSON, CPA
4019 S. HARVARD, STE 105
Tulsa, OK 74135
Phone 918-749-6665
Fax 918-749-6665
May 30, 1997
To: The Board of Directors
Hallmark Properties, Inc.
3802 East 36th Street
Tulsa, Oklahoma 74135
Gentlemen,
We have audited the Balance Sheet of Tierra Environmental Corp (1996) and
Hallmark Properties, Inc. (1997) as of March 31, 1996 and 1997 and the
related Statements of Profit and Loss and Accumulated Deficit, Statements of
Stockholders' Equity and Notes to Financial Statements for the years then
ended. These financial statements are the responsibility of the company's
management. Our responsibility is to express an opinion of these financial
statements based on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on the test basis,
evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of Tierra Environmental
Corp. (1996) and Hallmark Properties, Inc. (1997) as of March 31, 1996 and
1997 and the results of its operations and its stockholders' equity for the
years then ended in conformity with generally accepted accounting practices.
J. Karean Henderson, CPA
