MT Trading wants answers from Home Solutions, may seek board representation

By Lisa Kerner

Charlotte, N.C., July 11 - Home Solutions of America Inc. investor MT Trading LLC said it believes it is essential that the company hold an annual meeting as soon as possible to elect the company's directors, according to a schedule 13D filed with the Securities and Exchange Commission.

MT Trading, a 9.1% shareholder, then wants the board and management to explain to shareholders recent developments, including:

• Home Solutions' failure to provide shareholders information as required by SEC rules;

• The appointment of a new chairman of the board;

• The appointment of an interim chief financial officer;

• The entry of indemnity agreements with independent directors and certain executive officers;

• An audit committee investigation;

• The delisting of the company's common stock from the Nasdaq Stock Market; and

• Terminations of and resignations by officers and directors.

MT Trading noted it is ready to assist Home Solutions' board in its exploration of strategic alternatives, according to a schedule 13D filed with the SEC.

Should Home Solutions' board fail to take necessary action, MT Trading said it may seek two board seats at the next annual meeting of stockholders.

Based in Dallas, Home Solutions provides recovery, restoration and rebuilding services.

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