$IVST PCAOB Audit and Uplist Update From Chief Fin
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Posted On: 04/26/2018 9:54:44 AM
$IVST PCAOB Audit and Uplist Update From Chief Financial Officer. PCAOB Audit to be Completed By End of May and Immediately Uplist to OTCQB Venture Market.
CLEVELAND, April 26, 2018 (GLOBE NEWSWIRE) — Innovest Global Inc. (OTC PINK: IVST) expects its 2016 and 2017 audit to PCAOB standard, to be complete by the end of May. Immediately thereafter, the Board of Directors has resolved to apply to the OTCQB Market Exchange as an upgraded trading platform from the OTC Pink.
Innovest announced last month that it engaged NMS Inc. to audit its 2016 and 2017 financial results to PCAOB standard. That process has begun, and is expected to conclude by the end of May. “NMS is an extremely professional and proactive group of CPAs, and they have been an ideal partner as we have begun the audit process,” said Innovest CFO, Mike Yukich.
Since late 2017, Innovest has discussed an uplist strategy which management has indicated could ultimately include NASDAQ, or NYSE. Navigating to these markets is an incremental journey for small growing companies and requires much diligence. All uplist exchanges involve higher levels of compliance, and business requirements. Innovest has decided the OTCQB is an ideal next step. Known as the “The Venture Market”, it consists of developing U.S. and international companies.
“Dan Martin (Innovest Chairman and CEO) has been fanatical about advancing Innovest shareholder interests,” said Mr. Yukich. “He is concerned with one thing: maximizing shareholder value. We make decisions with long -term focus, and have avoided short -term thinking. He and the board, and I, believe OTCQB is an ideal immediate goal to achieve our long term goals. Once we apply, we will be on their (OTC Markets) timeline so its difficult to predict if and when we may be successful. But, OTC has been an incredibly helpful partner over the past several months, and we are looking forward to the process.”
More about Chief Financial Officer, Mike Yukich:
Mr. Yukich served as Chief Financial Officer and Controller for Eaton’s Truck Component Operations in the 1990’s, which was a $1.5 billion enterprise with 8,500 employees in North and South America. Mr. Yukich was responsible for all the financial and information technology functions. He led the due diligence and integration team for the acquisition of a $200 million Brazilian transmission supplier that was totally integrated within one year of acquisition.
After Eaton, Mr. Yukich served as Senior Vice President and Chief Financial Officer for Guide Corporation, a $600 million Tier one automotive supplier for external lighting systems. At Guide, Mr. Yukich was a key management team member, that took a former General Motors division and created a stand- alone company. He oversaw a $20 million investment for IT conversion and improved quality programs. In cooperation with the equity owners, Mr. Yukich secured another $22 million for a new manufacturing facility in Mexico and an engineering and technical center for R&D, as well as ongoing engineering and other corporate functions.
Mr. Yukich holds a BA degree in business administration from the University of Mount Union and an MBA from Central Michigan University. He has been an active member and past officer and director of the Financial Executives Institute for the past twenty-two years. His community involvement includes serving as President of the Beta Iota House Corporation of Sigma Nu National fraternity, an affiliate of the University of Mount Union.
Mr. Yukich also served in the United States Navy on two warships (USS Shadwell LSD-15 and USS Inchon LPH-12).
Look for much more information to come soon. As noted consistently, the company will increasingly use Twitter, which can be accessed both on Twitter @innovestglobal and on the front page of our website www.innovestglobal.com, for important company updates. This includes information that may be material, so please follow us and visit our website regularly! For more information on Innovest contact info@innovestglobal.com, or call Innovest investor Relations Matt Rego at 216.815.1122.
http://www.innovestglobal.com
Safe Harbor Statement: This news release contains “forward-looking statements”, which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated two thousand five hundred dollars cash and fifty thousand restricted shares for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: http://spotlightgrowth.com/index.php/disclosures/
CLEVELAND, April 26, 2018 (GLOBE NEWSWIRE) — Innovest Global Inc. (OTC PINK: IVST) expects its 2016 and 2017 audit to PCAOB standard, to be complete by the end of May. Immediately thereafter, the Board of Directors has resolved to apply to the OTCQB Market Exchange as an upgraded trading platform from the OTC Pink.
Innovest announced last month that it engaged NMS Inc. to audit its 2016 and 2017 financial results to PCAOB standard. That process has begun, and is expected to conclude by the end of May. “NMS is an extremely professional and proactive group of CPAs, and they have been an ideal partner as we have begun the audit process,” said Innovest CFO, Mike Yukich.
Since late 2017, Innovest has discussed an uplist strategy which management has indicated could ultimately include NASDAQ, or NYSE. Navigating to these markets is an incremental journey for small growing companies and requires much diligence. All uplist exchanges involve higher levels of compliance, and business requirements. Innovest has decided the OTCQB is an ideal next step. Known as the “The Venture Market”, it consists of developing U.S. and international companies.
“Dan Martin (Innovest Chairman and CEO) has been fanatical about advancing Innovest shareholder interests,” said Mr. Yukich. “He is concerned with one thing: maximizing shareholder value. We make decisions with long -term focus, and have avoided short -term thinking. He and the board, and I, believe OTCQB is an ideal immediate goal to achieve our long term goals. Once we apply, we will be on their (OTC Markets) timeline so its difficult to predict if and when we may be successful. But, OTC has been an incredibly helpful partner over the past several months, and we are looking forward to the process.”
More about Chief Financial Officer, Mike Yukich:
Mr. Yukich served as Chief Financial Officer and Controller for Eaton’s Truck Component Operations in the 1990’s, which was a $1.5 billion enterprise with 8,500 employees in North and South America. Mr. Yukich was responsible for all the financial and information technology functions. He led the due diligence and integration team for the acquisition of a $200 million Brazilian transmission supplier that was totally integrated within one year of acquisition.
After Eaton, Mr. Yukich served as Senior Vice President and Chief Financial Officer for Guide Corporation, a $600 million Tier one automotive supplier for external lighting systems. At Guide, Mr. Yukich was a key management team member, that took a former General Motors division and created a stand- alone company. He oversaw a $20 million investment for IT conversion and improved quality programs. In cooperation with the equity owners, Mr. Yukich secured another $22 million for a new manufacturing facility in Mexico and an engineering and technical center for R&D, as well as ongoing engineering and other corporate functions.
Mr. Yukich holds a BA degree in business administration from the University of Mount Union and an MBA from Central Michigan University. He has been an active member and past officer and director of the Financial Executives Institute for the past twenty-two years. His community involvement includes serving as President of the Beta Iota House Corporation of Sigma Nu National fraternity, an affiliate of the University of Mount Union.
Mr. Yukich also served in the United States Navy on two warships (USS Shadwell LSD-15 and USS Inchon LPH-12).
Look for much more information to come soon. As noted consistently, the company will increasingly use Twitter, which can be accessed both on Twitter @innovestglobal and on the front page of our website www.innovestglobal.com, for important company updates. This includes information that may be material, so please follow us and visit our website regularly! For more information on Innovest contact info@innovestglobal.com, or call Innovest investor Relations Matt Rego at 216.815.1122.
http://www.innovestglobal.com
Safe Harbor Statement: This news release contains “forward-looking statements”, which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated two thousand five hundred dollars cash and fifty thousand restricted shares for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: http://spotlightgrowth.com/index.php/disclosures/
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