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Posted On: 12/09/2021 2:46:47 PM
Post# of 8469
$CBDD News Out --- (Newsfile Corp. - December 6, 2021) - CBD of Denver, Inc. (OTC Pink: CBDD), a cultivator and distributor of CBD and cannabis flower and a producer of a full line of CBD oil and unique products sold in Switzerland and throughout Europe, is pleased to report it has received what it believes will be the last request for information needed to complete its GAAP audit, which is being conducted by Fruci and Associates ("Fruci"
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The Company contracted Fruci in February 2021. In preparation for its US GAAP audit, the Company also hired a Swiss auditing firm in January 2021 to compile the required information needed to complete the audit. Fruci had a substantial backlog when retained and only began working on CBD of Denver's over the summer. With diverse operations across the EU, the audit of the Company is more complex than for a traditional US company, requiring much longer to complete.
"We have been told by Fruci that barring any additional information needed, the audit should be done soon," commented Marcel Gamma, CEO. "It has been very frustrating watching market makers continuously hamper the movement of our stock when operating results and significant milestones have been met by the team. While our initial audit timeline expectations were overly optimistic, we are continuing to move forward with our plans to become fully reporting and move to a senior exchange as soon as we have the completed audit."
. The Company contracted Fruci in February 2021. In preparation for its US GAAP audit, the Company also hired a Swiss auditing firm in January 2021 to compile the required information needed to complete the audit. Fruci had a substantial backlog when retained and only began working on CBD of Denver's over the summer. With diverse operations across the EU, the audit of the Company is more complex than for a traditional US company, requiring much longer to complete.
"We have been told by Fruci that barring any additional information needed, the audit should be done soon," commented Marcel Gamma, CEO. "It has been very frustrating watching market makers continuously hamper the movement of our stock when operating results and significant milestones have been met by the team. While our initial audit timeline expectations were overly optimistic, we are continuing to move forward with our plans to become fully reporting and move to a senior exchange as soon as we have the completed audit."
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