BioPower Operations Corporation d/b/a as HyFi Corp., Announces that it Seeks New Auditors after SEC permanently shut down its auditor BF Borgers
BioPower Operations , operating as HyFi Corp. (OTC Pink: BOPO), announced its search for new auditors following the SEC's permanent ban on its former auditor, BF Borgers CPA PC. The SEC's May 3, 2024 settlement revealed BF Borgers defrauded approximately 500 OTC companies, including demanding excessive fees from BioPower for amended filings. BioPower refused the demands and is now reviewing new auditors to comply with SEC requirements and resume trading. The company plans to release a shareholder letter detailing recent activities and future income projections.
- BioPower is actively seeking new auditors to comply with SEC requirements and resume trading.
- The company plans to release a shareholder letter to provide transparency about recent activities and future income projections.
- BioPower has been active in joint ventures, potentially enhancing its business prospects.
- The SEC permanently banned BioPower's former auditor, BF Borgers, affecting approximately 500 OTC companies.
- BF Borgers demanded six-figure fees for signing amended filings, which BioPower refused, risking delisting.
- Delays in selecting a new auditor and filing necessary SEC reports could prolong trading suspension.
Aventura, Florida, May 21, 2024 (GLOBE NEWSWIRE) -- BioPower Operations Corporation (OTC Pink: BOPO) d/b/a as HyFi Corp., today announced that it is reviewing new auditors. On May 3, 2024, the Securities and Exchange Commission (the “SEC”) announced that it had settled charges against BF Borgers CPA PC (“BF Borgers”). As part of the settlement, BF Borgers agreed to a permanent ban on appearing or practicing before the SEC. The SEC further reported that approximately 500 OTC companies had been defrauded by Borgers including Trump Media.
Although BioPower had prepared its Annual and Quarterly filings, Borgers tried to make the Company file amended filings charging the Company an additional six figures in order to sign the audit letter and sign off enabling the Company to file the required SEC filings, knowing that we would be delisted if we did not file. When the Company refused to pay this demand, Borgers tried to blame his request on the PCAOB, the body that governs what Auditors rules must be followed by auditors for public companies. Mr. Borgers refused to answer all phone calls from the Company but instead sent all of his demands through emails. The Company refused to pay this outrageous amount of money for a few days work even though we made the one-line change to our filings to get them ready to be filed as amended filings. Mr. Borgers, knowing we would be delisted, demanded money to sign off on amending our filings and would not speak to us.
The Company is reviewing new potential Auditors and after selecting an auditor, intends to file all necessary SEC reports and do whatever is necessary in order to commence trading again.
The Company has been very active over this last year as per our website: www.hyfi-corp.com and joint venture partner and licensee WPP Energy https://wppenergy.com/.
We intend to put out a Shareholder’s letter shortly to explain the activities of the Company and approximate future incomes from those activities.
About BioPower Operations Corporation/ HyFi Corp.
BioPower Operations Corporation (OTC Pink: BOPO) is focused on the implementation of sustainable projects and other projects consistent with the UN’s 17 SDG’s. HyFi’s core competency is project funding solutions, project technology deliverables and creating OEM, EPC and O&M relationships. HyFi also offers other consultancy services in the green energy, environmental and infrastructure market.
HyFi has rapidly evolved into a company with a strong focus on sovereign level engagements, particularly to take a leading role in assisting developing nations to reach their goals by providing both turnkey financial solutions through partner financial institution syndication and by also building consortiums of OEM’s and EPC’s to satisfy project deliverables for initiatives of national importance.
For more information see www.HyFi-corp.com
About WPP Energy GmbH
Headquartered in Geneva Switzerland, WPP Energy GmbH are leaders in renewable energy innovation since 2009.
WPP is a repository for disruptive green energy and environmental technologies which we build or intend to build, own, operate and maintain. WPP also licenses technology and enters strategic joint venture partnerships for the purpose of accelerating the deployment of important environmentally friendly technologies for the benefit of the entire world.
For more information see https://wppenergy.com/
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are subject to many risks and uncertainties. The forward-looking statements are not historical facts and constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, which may cause actual results, performance, or achievements to differ materially from those expressed or implied. The words “will,” “contemplate,” “believe,” “expect,” “intend,” “may,” “can,” “could,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are not guarantees of the future as there are a number of meaningful factors that could cause the Company’s actual results to vary materially from those indicated by such forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate in the circumstances. Factors which could cause actual results to differ from expectations, many of which are beyond the Company’s control are discussed in the Company’s filings with the Securities and Exchange Commission (the “Commission”) including those identified under the section captioned “Risk Factors” in the Company’s Registration Statement on Form 10-K, filed with the Commission on June 16,2023, and as updated in subsequent filings with the Commission. The Company disclaims any obligation to update the information contained in these forward-looking statements whether as a result of new information, future events or otherwise.
Media Contact
Troy MacDonald, CEO
+1-786-923-0272
Web: hyfi-corp.com
FAQ
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