LONDON, UNITED KINGDOM--(Marketwired - Jan 14, 2014) - E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI' or the "Company"), an electronic waste management, reverse logistics, environmentally focused services and technology company and the first pure public e-waste operator, announced today the appointment of MaloneBailey, LLP to be the company's audit firm.
"We have an aggressive international expansion program and combined with a objective to qualify for an uplisting of our stock to an exchange as soon as we are qualified," said Martin Nielson, founder and CEO of E-Waste Systems, Inc. "MaloneBailey brings a depth and breadth of experience to our team that fits with our global model, and they are deeply versed in auditing NYSE and NASDAQ firms so we are confident that they will be well qualified to bring these services to us," added Mr. Nielson.
MaloneBailey currently has as clients over 150 registrants in the NYSE, NASDAQ, AMEX, and OTC markets, and they audit more Microcap companies trading on U.S. stock exchanges than any other firm in the world. Because of this emphasis, they are one of a limited group of firms that require annual inspections by the Public Company Accounting Oversight Board (PCAOB).1 With office in the USA and China, and as a member of Nexia International, one of the largest global networks of accounting firms with over 590 offices in over 100 countries and 20,600 personnel, MaloneBailey provides extensive cross-border solutions to its clients.
"In addition to finding the skill-set that can help us achieve our exchange listing goals, it is crucial that our new audit firm have a strong on-the-ground presence in China, because we expect to continue to experience tremendous growth there," said Mr. Nielson. China's economy is the second largest is the world and research shows that as much as 70% of the world's electronic waste ends up in China2, of which the majority is handled by informal processing centers, where health code and environmental regulation violations are often the norm.3 4
EWSI's audit partner is George Qin, one of five SEC Audit Partners, who also oversees MaloneBailey's practice in Beijing, China. "We are excited to be working with such a well-respected audit partner," said Martin. "And, we are pleased with how Mr. Qin and the MaloneBailey team fits with our overall strategy."
Follow E-Waste Systems, Inc. on LinkedIn & Facebook, @EWasteSystemsIn on Twitter, and on the company's blog at www.ewastesystems.blogspot.com.
For additional inquiries, contact Investor Relations at: ir@ewastesystems.com.
