Zuma Beach Entertainment Engages CPA Firm Perry Hay & Chu

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The engagement of PHC, a local Certified Public Accountant firm (“CPA”), is a proactive initiative commenced by Zuma whereby key employees from various departments in Zuma’s operations will work collaboratively with qualified personnel from PHC over the course of a 4 week period. PHC’s role is to focus on the documentation of certain processes in all of Zuma’s departments as it relates to its internal controls and procedures.

A recent trend in audits, prompted by high profile accounting scandals, has been an increased focus on internal control procedures, which aim to ensure the completeness, accuracy and validity of records of accounts. This emphasis on the internal control environment is now a mandatory component of the financial audit of SEC reporting and listed companies, under the auditing standards of the Public Company Accounting Oversight Board, a non-profit corporation organized by the Sarbanes-Oxley Act.

PHC will make recommendations on how to implement new structures for efficiency and effectiveness. The recommendations will be based on the continuing commitment of management to assess the operating effectiveness of its internal controls. It is anticipated that internal controls that are assessed by PHC as effective will reduce the amount of 'substantive' work for Zuma’s auditor and directly result in a more efficient and cost effective financial audit for Zuma.

Zuma is currently preparing for the audit of its financial statements.
PHC was organized in 1980 by the merger of Perry & Hay and Kenneth T. Chu & Associates. PHC provides quality accounting, auditing, tax, consulting, and technology services to closely held businesses and offers financial expertise and experience to clients for all their financial dealings. PHC is a member of the American Institute of Certified Public Accountants and is a CPA firm dedicated to maintaining the highest quality standards in their practice.

About Zuma Beach Entertainment, Inc.
Zuma Beach Entertainment is a diversified company operating in the entertainment and information industries. The Company is engaged in the acquisition, development, marketing, licensing and distribution of motion picture and television, film and animation, and sports entertainment properties. The Company also procures and sells accredited and pre-qualified sales leads, publishes financial and investing coverage for the active investor, and offers e-commerce solutions to service B2B and B2C needs.

Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws. Such forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to them. The Company has no obligation to update such forward-looking statements. Actual results may vary significantly from these forward-looking statements based on a variety of factors.


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Michael Douglas
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