Ants’ Auditor Resigns Over Statement

The auditor for Ants Software.com, Jaak Olesk, said he resigned because he was unaware of a statement contained in a filing with the Securities and Exchange Commission. Santa Barbara-based Ants Software, in a registration filed with the SEC on Monday, submitted Chairman Donald Hutton’s signature as the certified public accountant auditing the company’s financial statements. “I need to resign immediately because of this development,” Olesk said when asked about the filing, noting that the outside auditor needs to sign financial statements, not a corporate officer. Olesk, a licensed CPA, audited Ants Software’s financial statements for the fiscal year ended April 30.

Meanwhile, the chief of the California Board of Accountancy’s enforcement program said Hutton is not licensed as a CPA--at least in California. Gregory Newington said it’s a misdemeanor to identify oneself as a CPA in the state without a license, but he declined to comment on whether Hutton broke the law.

In two telephone calls Monday, Hutton hung up after being asked if he was licensed as a CPA in any state. In an interview last week, he said he was previously a chartered accountant in Canada. Ants shares jumped $10 to close at $29.25 in over-the-counter trading. The shares have been volatile in recent days, falling from a high of $55.63 two weeks ago to a low of $5.50 on Thursday.