KPMG LLP CERTIFIED PUBLIC ACCOUNTANTS EXHIBIT 16 July 16, 2001 Securities and Exchange Commission 450 Fifth Street, NW Washington, DC 20549 Ladies and Gentlemen: We were previously principal accountants for Cornerstone Internet Solutions Company (the "Company") and, under the date of August 2, 2000, we reported on the consolidated financial statements of Cornerstone Internet Solutions Company and subsidiaries as of and for the years ended May 31, 2000 and 1999. On June 14, 2001, we resigned. We have read Cornerstone Internet Solutions Company's statements included under Item 4 of its Form 8-K dated June 14, 2001, and we agree with such statements, except that we are not in a position to agree or disagree with the statements that the Company plans to restate its financial statements included in its Form 10-KSB for the fiscal year ended May 31, 2000 and Form 10-QSB for the quarterly periods ended February 29 and August 31, 2000 to reflect its investment in B2B using the equity method of accounting from February 29, 2000. Also, we are not in a position to agree or disagree with the statements that the Company does not anticipate there will be any changes to the Company's stockholders' equity, net loss or related per share amounts as a result of the revisions to the financial statements to apply the equity method of accounting for the Company's investment in B2B. Very truly yours, /s/ KPMG LLP ------------ KPMG LLP
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Cornerstone Internet Solutions (CNRS) Inactive 8-KCurrent Report
Filed: 17 Jul 01, 12:00am