CB Scientific, Inc. (CBSC) Announces the Engagement of MaloneBailey, LLP
CB Scientific Inc. (OTC PINK: CBSC) has initiated an independent financial audit with MaloneBailey, LLP to assess its financial statements as of March 31, 2021. This audit is crucial for the company's objective to uplist from OTC Pink to OTCQB, requiring PCAOB compliance. The audit will provide insights into CBSC's internal controls and offer a comprehensive overview of its financial health. The process is expected to conclude within eight weeks, ensuring transparency as the company aims to keep its investors informed of any developments.
- Engagement of MaloneBailey, LLP for independent audit enhances credibility.
- Audit aims for uplisting to OTCQB, which may improve visibility and investor confidence.
- Compliance with PCAOB standards highlights commitment to financial transparency.
- None.
CBSC begins independent Financial Audit through MaloneBailey, LLP.
ESCONDIDO, CA / ACCESSWIRE / October 5, 2021 / CB Scientific. Inc. (OTC PINK:CBSC) ("CBSC" or the "Company") is a provider of remote ECG cardiac monitoring products and services; simple wearable solutions for detecting potentially life-threatening heart arrhythmias in patients with heart-related issues, both domestically and internationally.
The company has announced that they have engaged MaloneBailey LLP, a certified public accounting firm in Houston, Texas. MaloneBailey LLP to audit financial statements of CBSC and its subsidiaries, which comprise the year-end balance sheet as of March 31, 2021, and the related statements of income, all of which are to be included in the annual report to be filed by CBSC to OTC Markets, thus qualifying for an uplifting to the OTCQB listing. The audit will be performed independently by MaloneBailey with the objective of meeting the standards of the Public Company Accounting Oversight Board (PCAOB) (United States) and in accordance with auditing standards generally accepted in the United States of America. The audit also includes obtaining an understanding of the entity and its environment, including its internal control, sufficient to plan the audit and determine the nature, timing, and extent of audit procedures to be performed.
U.S. companies must have independently audited annual financials by a PCAOB auditor to meet the OTC Markets up-listing requirements to move the company from trading on the OTC Pink to the OTCQB (The Venture Market). The audit is expected to be completed within eight weeks.
As new developments occur, CB Scientific plans to make further announcements through press releases and regulatory filings to keep its shareholders, industry participants, and the public markets informed.
About MaloneBailey, LLC:
With an international reach and the ability to serve local and abroad companies, MaloneBailey, LLP proudly delivers audit, tax, and consulting services to public and private companies, both small and mid-market. The firm is an established market leader in the delivery of audit services to publicly traded clients, with a substantial number of U.S., listed registrants as clients, including NYSE, NASDAQ, and OTC listed companies. In addition, MaloneBailey's team of experienced accounting professionals offers a range of services under AICPA, SEC, PCAOB, IRS, and CPAB rules, as they apply.
MaloneBailey, LLP
Certified Public Accounting Firm
10375 Richmond Avenue, Suite 710
Houston, TX 77042
Telephone number:
(713) 343-4286
Company Website:
www.malonebailey.com
CB Scientific Inc. - Company Contact Information:
340 State Place
Escondido, CA 92029
Telephone Number:
(888) 225-0870
Emails:
General Inquiries: info@cbscientificinc.com
Investor Inquiries: Robert Hesse - dorchco.bh@gmail.com
Company Website and Social Media Outlets:
Twitter, Facebook, Instagram, LinkedIn, YouTube, and Newsletter
This information disclosure may contain forward-looking statements covered within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions, and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE: CB Scientific, Inc.
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FAQ
What is the purpose of CBSC's financial audit?
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