Xtreme Fighting Championships Corporate Update

Rhea-AI Summary

Xtreme Fighting Championships, Inc. (OTC:DKMR) is moving to OTCQB after delays in filing financial reports due to a medical emergency involving its auditor, Robert Boyle. The company has appointed Malone-Bailey as its new audit firm. CEO Steve Smith noted that the delay in filing its Form 10K and Form 10Q was unexpected but views it as a minor setback. XFC anticipates completing its SEC filings in three weeks and looks to strengthen partnerships with FOX and HBO in the MMA segment, showcasing a commitment to growth and leadership in combat sports.

Positive

• Moving up to OTCQB enhances visibility and credibility.
• New audit firm, Malone-Bailey, may streamline future filings.
• Management's commitment to complete SEC filings within three weeks.

Negative

• Delay in financial report filings due to auditor's medical emergency.
• Potential risks in maintaining investor confidence due to filing delays.

DESTIN, Fla., July 7, 2021 /PRNewswire/ -- Xtreme Fighting Championships, Inc. ("XFC") (OTC:DKMR) has filed to move up to OTCQB and will complete its OTCQB filing once it has become current by filing its Form 10K for 2020 and its Form 10Q for the first quarter for the year 2021.

Over the last three months XFC has been late on filing its financial reports due to a recent medical emergency experienced by Robert Boyle, who is XFC's auditor until 2021 when his medical emergency required XFC to change audit firms and Robert Boyle was relieved of his position.

XFC's management rushed to hire Malone-Bailey as its new audit firm. Management was very surprised by their previous auditor's recent medical emergency. 

Steve Smith, XFC's CEO, explained the result of Mr. Boyle's medical emergency: "We were never contacted by Mr. Boyle's office even after our 10K was actually due to be filed with the Securities and Exchange Commission ("SEC"). Our 10K was late and we later found out that it would take us months to select a new audit firm and bring the new audit firm up to speed on the financial history of the company."

Despite the fact that their auditor's medical emergency caused them to delay their flings with the SEC, XFC's management believes this minor setback will not stop the company from establishing itself as a leader in the MMA sport leagues.

XFC's management expects to complete its SEC filings within the next three weeks and be back on course with its new broadcast partners which include FOX and HBO.

Smith: "We have a significant update that we will release once we are current with OTC Markets."

XFC President Myron Molotky: "The XFC is happy to move forward with our new auditing firm. We will continue to build this company and maintain our momentum in the combat sports world."

About XFC

Xtreme Fighting Championships, Inc. (formerly Duke Mountain Resources, Inc.) is the first publicly traded premier international mixed martial arts ("MMA") organization with offices throughout the United States and South America, trading under the ticker symbol DKMR. Xtreme Fighting Championships ("XFC") is now partnered with the FOX family of networks in the United States, and has previously been carried on some of the largest open television broadcasters in Latin America - Rede TV! as well as HBO, ESPN, NBC Sports Network, Telemundo Universo, Esportes Interativo, Terra TV (the largest internet portal in the world), and UOL - the largest internet portal in Latin America, and premium cable & satellite television network. The XFC has had over 185 exclusively signed fighters, representing over 35+ countries worldwide with even more growth expected. Boasting the signing of The Next Generation of Male & Female Superstars, the XFC is known for entertaining fans with the most action packed MMA events both on television and in stadium venues. The Next Generation of MMA.

Media Contact:
Ed Kapp
ed.kapp1@gmail.com

View original content:https://www.prnewswire.com/news-releases/xtreme-fighting-championships-corporate-update-301327398.html

SOURCE Xtreme Fighting Championships

FAQ

What is Xtreme Fighting Championships' current filing status for SEC reports?

Xtreme Fighting Championships plans to complete its SEC filings within three weeks after delays caused by a medical emergency with its former auditor.

Who is the new auditing firm for Xtreme Fighting Championships?

Malone-Bailey has been appointed as the new auditing firm for Xtreme Fighting Championships.

What were the causes of Xtreme Fighting Championships' filing delays?

The delays were attributed to a medical emergency involving their former auditor, Robert Boyle.

What is the significance of moving to OTCQB for DKMR stock?

Moving to OTCQB enhances the visibility and credibility of DKMR stock, potentially attracting more investors.