$UMAX would like to announce the planned engagemen
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Posted On: 12/30/2020 7:10:38 AM
$UMAX would like to announce the planned engagement of a PCAOB Auditor to prepare audited financial statements for the Company and a subsequent application for listing on the OTCQB.
Mr. Fletcher (President and CEO of the Company), states…" We would like to announce that UMAX has begun the interview process with intent of signing an engagement letter with a PCAOB qualified auditor during the first several weeks of 2021 in an effort to complete audited financial statements for our last fiscal year ended March 31, 2020. UMAX is completing this significant corporate action with the intent to file for listing on the OTCQB with OTC Markets, Inc. We feel that this financial transparency will fit well with our planned growth through acquisitions in calendar year 2021. "
According to OTC Markets, Inc., the following items required for OTCQB eligibility (For U.S. Companies): (1) Must have audited financial statements prepared by a PCAOB auditor; (2) meet minimum bid price test of $0.01; (3) not be in bankruptcy; (4) have fifty beneficial shareholders, each owning at least 100 shares; (5) have a freely traded public float of at least 10% of the total issued and outstanding of that security; and (6) have a transfer agent that participates in the Transfer Agent Verified Share Program.
Mr. Fletcher (President and CEO of the Company), states…" We would like to announce that UMAX has begun the interview process with intent of signing an engagement letter with a PCAOB qualified auditor during the first several weeks of 2021 in an effort to complete audited financial statements for our last fiscal year ended March 31, 2020. UMAX is completing this significant corporate action with the intent to file for listing on the OTCQB with OTC Markets, Inc. We feel that this financial transparency will fit well with our planned growth through acquisitions in calendar year 2021. "
According to OTC Markets, Inc., the following items required for OTCQB eligibility (For U.S. Companies): (1) Must have audited financial statements prepared by a PCAOB auditor; (2) meet minimum bid price test of $0.01; (3) not be in bankruptcy; (4) have fifty beneficial shareholders, each owning at least 100 shares; (5) have a freely traded public float of at least 10% of the total issued and outstanding of that security; and (6) have a transfer agent that participates in the Transfer Agent Verified Share Program.
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