E-Waste Systems, Inc. Appoints International Audit Firm, MaloneBailey, LLP
LONDON, UNITED KINGDOM, Jan 14, 2014 (Marketwired via COMTEX) -- 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 China(2), 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.
About E-Waste Systems, Inc. E-Waste Systems, Inc. is the first pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI targets companies facing regulations or other mandates for handling e-waste. EWSI operates and assists its large geographical network of affiliates, applying best practices in professional management, offering state-of-the-art engineering, and providing a truly global e-waste solution. Additional information, including the business plan summary, pictures and descriptions of the facilities, staff, and overall progress of the Company is available on the official website and social media sites: www.ewastesystems.com , www.facebook.com/ewastesystems , Twitter: @ewastesystems.com, and LinkedIn: E-Waste Systems, Inc.
About MaloneBailey, LLP With offices in Houston, New York, Beijing and Shenzhen, MaloneBailey, LLP is a market-leading, full-service accounting firm delivering high-quality private and public company audit and tax services. MaloneBailey was founded in 1982 by John Malone and are a member firm of Nexia International, one of the largest groups of audit firms in the world. Due to the large number of audit clients, they are one of only nine firms in the world that requires an annual PCAOB inspection. Additional information is available on their website: www.malonebailey.com .
About PCAOB The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports. The PCAOB also oversees the audits of broker(s) and dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection.(5) Additional information is available on their website: www.pcaobus.org .
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
References:
1. Why MaloneBailey. Retrieved from
http://www.malonebailey.com/Why-MaloneBailey/
2. 70% of global e-waste dumped in China. Retrieved from
http://www.china.org.cn/environment/2012-05/2...461996.htm
3. Electronic Waste in China. Retrieved from
http://en.wikipedia.org/wiki/Electronic_waste_in_China
4. E-Waste in China: A Country Report. Retrieved from
http://www.ewasteguide.info/files/Wang_2013_StEP.pdf (4.1)
5. About the PCAOB. Retrieved from
http://pcaobus.org/About/Pages/default.aspx
E-Waste Systems, Inc. Investor Relations ir@ewastesystems.comSOURCE: E-Waste Systems, Inc.
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SUBJECT CODE: Environment:Hazardous Materials Management
Government:International
Environment:Waste Management
Environment:Regulations and Law 
