EXHIBIT 99.1
INTERLINK ANNOUNCES
COMPLETION OF INDEPENDENT INVESTIGATION AND INTENTION TO
FILE RESTATED FINANCIAL STATEMENTS
CAMARILLO, CALIFORNIA, MARCH 1, 2006 - Interlink Electronics, Inc.
(Nasdaq:LINKE), a world leader in the development of intuitive interface
technologies and solutions for business and home applications, today announced
the completion of the independent investigation undertaken at the direction of
the Audit Committee by Dorsey & Whitney, LLP. Dorsey & Whitney retained the
services of PricewaterhouseCoopers LLP with respect to various forensic and
electronic procedures performed in the course of the investigation.
The investigation focused on various accounting matters, including those
reported in Interlink's press release of November 2, 2005. All of the matters
investigated by the investigating group were brought to its attention by
Interlink and the investigation did not reveal additional material items
warranting investigation.
Interlink proposes to restate certain of its financial statements to reflect the
results of its investigation. The restatement will be incorporated in
Interlink's annual report on Form 10-K for the year ended December 31, 2005.
Interlink will also file its late quarterly report on form 10-Q for the third
quarter of 2005.
In order to accommodate its filing schedule, Interlink has applied to Nasdaq for
an extension of time to file its late quarterly report and all required
restatements until March 31, 2006. As previously announced, Nasdaq granted
Interlink's request for continued listing subject to the condition that the late
quarterly report and all required restatements be filed on or before March 1.
Nasdaq has Interlink's request for an extension to March 31 under consideration.
Interlink has responded to staff requests for information and expects the matter
to be taken up by the hearings panel in the near future.
ABOUT INTERLINK ELECTRONICS, INC.
Interlink Electronics, Inc. (Nasdaq: LINKE) is a world leader in the design and
manufacture of intuitive interface technologies and products. Creating today's
interface standards, the Company's business communications, e-transactions, home
entertainment and specialty businesses have established Interlink as the
industry's comprehensive source for branded and OEM solutions.
Recognized worldwide for innovative technologies and solutions, Interlink
Electronics, Inc. serves a global customer-base from its corporate headquarters
in Camarillo, CA and offices in Tokyo, Hong Kong and Taiwan. The Company holds
numerous patents protecting its sensor technologies, wireless communications
protocol and product design properties. See Interlink Electronics online at
www.interlinkelectronics.com or in Japan at http://www.interlinkelec.co.jp/.
ALL REGISTRATIONS AND TRADEMARKS ARE PROPERTIES OF THEIR RESPECTIVE OWNERS.
This release contains forward-looking statements that involve a number of risks
and uncertainties. The following are among the factors that could cause actual
results to differ materially from the forward-looking statements: business
conditions and growth in the electronics industry and general economies, both
domestic and international; lower than expected customer orders; delays in
receipt of orders or cancellation of orders; competitive factors, including
increased competition, new product offerings by competitors and price pressures;
the availability of third party parts and supplies at reasonable prices; changes
in product mix; significant quarterly performance fluctuations due to the
receipt of a significant portion of customer orders and product shipments in the
last month of each quarter; and product shipment interruptions due to
manufacturing problems. The forward-looking statements contained in this
document regarding industry and revenue trends, technology adoption, and future
business activities should be considered in light of these factors.
CONTACTS:
Investor Relations Contact:
MICHELLE LOCKARD
mlockard@interlinkelectronics.com
(805) 484-8855, EXT. 114
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