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The following is an excerpt from a 10-K SEC Filing, filed by COMMODORE ENVIRONMENTAL SERVICES INC /DE/ on 4/7/1998.
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COMMODORE ENVIRONMENTAL SERVICES INC /DE/ - 10-K - 19980407 - AUDITORS_OPINION

Report of Independent Accountants

To the Board of Directors and Shareholders of Commodore Environmental Services, Inc.

In our opinion, the accompanying consolidated balance sheet and the related consolidated statements of operations, of stockholders' equity and of cash flows present fairly, in all material respects, the financial position of Commodore Environmental Services, Inc. and its subsidiaries at December 31, 1997 and 1996, and the results of their operations and their cash flows for the years then ended in conformity with generally accepted accounting principles. These financial statements are the responsibility of the Company's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above.

PRICE WATERHOUSE LLP

Philadelphia, Pennsylvania
March 30, 1998

F-1

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