Cosmos Health Appoints Big 4 Accounting Firm KPMG as Auditor

Rhea-AI Summary

Cosmos Health Inc. (NASDAQ:COSM) engages KPMG as its new independent registered public accounting firm, replacing Armanino LLP. KPMG will review the company's Third Quarter Form 10-Q and audit its consolidated financial statements for the fiscal year ended December 31, 2023. CEO Greg Siokas highlights the commitment to transparency, integrity, and adherence to high financial oversight and corporate governance standards.

CHICAGO, IL / ACCESSWIRE / August 8, 2023 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, announced today the engagement of KPMG Certified Auditors S.A. ("KPMG") as the Company's independent registered public accounting firm, effective August 7, 2023. KPMG replaces the Company's former auditor, Armanino LLP.

The appointment of KPMG was made by the Cosmos Health Board of Directors at the recommendation of its Audit Committee. The decision to change auditors was not the result of any disagreement between the Company and Armanino LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. KPMG will review the Company's Third Quarter Form 10-Q and audit the Company's consolidated financial statements for the fiscal year ended December 31, 2023.

Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "We are pleased to appoint KPMG, a Big 4 accounting firm, as our auditor. As we continue to pursue our ambitious, multi-faceted growth strategy to scale up Cosmos through acquisitions, organic growth, and investment in R&D, the appointment of this world-renowned auditing firm underscores our commitment to transparency, integrity, and adherence to the highest standards of financial oversight and corporate governance. We would also like to thank Armanino for the professional services they provided to Cosmos."

About Cosmos Health Inc.

Cosmos Health Inc. (Nasdaq:COSM) is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. Cosmos Health is engaged in the nutraceuticals sector through its own proprietary lines of products "Sky Premium Life" and "Mediterranation." Additionally, the Company is operating in the pharmaceutical sector through the provision of a broad line of branded generics and OTC medications and is involved in the healthcare distribution sector through its subsidiaries in Greece and UK serving retail pharmacies and wholesale distributors. Cosmos Health is strategically focused on the R&D of novel patented nutraceuticals (IP) and specialized root extracts as well as on the R&D of proprietary complex generics and innovative OTC products. Cosmos Health has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Health has offices and distribution centers in Thessaloniki and Athens, Greece and Harlow, UK. More information is available at www.cosmoshealthinc.com and www.skypremiumlife.com.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
BDG Communications
cosm@bdgcommunications.com
+44 207 0971 653

SOURCE: Cosmos Health Inc.

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FAQ

Why did Cosmos Health engage KPMG as its independent registered public accounting firm?

Cosmos Health engaged KPMG to replace its former auditor, Armanino LLP, as part of its commitment to transparency, integrity, and adherence to high financial oversight and corporate governance standards.

What will KPMG review and audit for Cosmos Health?

KPMG will review the company's Third Quarter Form 10-Q and audit its consolidated financial statements for the fiscal year ended December 31, 2023.

What did CEO Greg Siokas emphasize regarding the appointment of KPMG?

CEO Greg Siokas highlighted the company's commitment to transparency, integrity, and adherence to high financial oversight and corporate governance standards with the appointment of KPMG.