Demand Brands engages BF Borgers CPA PC as Auditor

Rhea-AI Summary

Demand Brands, Inc. (OTC PINK:DMAN) has appointed BF Borgers CPA PC as its new auditor as of June 22, 2022. This initiative aims to enhance the company's financial reporting and compliance, leading to the filing of a registration statement post-audit completion. The audit will adhere to GAAP and PCAOB standards, ensuring thorough examination of the company's financial statements. Management expressed commitment to improving shareholder relationships and plans to engage a securities law firm to expedite the registration process.

Positive

• Appointment of BF Borgers CPA PC enhances auditing credibility.
• Commitment to improve shareholder relations signifies potential investor confidence.
• Planned registration statement could attract further investment.

Negative

• None.

WATSONVILLE, CA / ACCESSWIRE / June 22, 2022 / Demand Brands, Inc. (OTC PINK:DMAN), ("Company" or "DB") http://dman.co, a leading vertically integrated cannabis company, is thrilled to announce the engagement of BF Borgers CPA PC ("BF Borgers") as its auditor going forward. The Company plans to file a registration statement in the United States upon completion of the audit.

BF Borgers will audit the balance sheets of the Company and the related statements of operations, stockholders' equity and income, and cash flows. The objective of the audit of the financial statements is to express an opinion on the financial statements in accordance with generally accepted accounting principles accepted in the United States (GAAP). The audit of the financial statements will be conducted in accordance with the standards established by the Public Company Accounting Oversight Board (PCAOB) and will include tests of the Company's accounting records and other procedures that BF Borgers considers necessary to enable them to express their opinion.

"This marks the first step by the incoming management group towards establishing a refreshed relationship with our shareholders", said DB management, "We are committed to delivering a leading cannabis company to our stakeholders. Our next step to accelerate the registration statement efforts will be to engage a securities law firm."

About Demand Brands

Demand Brands is a publicly-traded company that has vertical integration, optimization, and innovation at the heart of its core strategy. We strategically invest in, acquire & partner with synergistic cannabis companies to optimize and expand our vertically integrated platform with the goal of becoming a multi-state operation that captures value at every stage of the soil to sale process. Our capabilities include cultivation, processing, brand & supply management, and real estate.

PRESS CONTACT
ir@dman.co
+1 (415) 685-0317

Facebook | Instagram | Twitter | LinkedIn

Cautionary Note Regarding Forward-Looking Information and Statements. This press release includes "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. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates", "projects" "will", or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.

SOURCE: Demand Brands, Inc.

View source version on accesswire.com:
https://www.accesswire.com/706064/Demand-Brands-engages-BF-Borgers-CPA-PC-as-Auditor

FAQ

What recent announcement did Demand Brands (DMAN) make regarding their auditor?

Demand Brands announced the engagement of BF Borgers CPA PC as their new auditor on June 22, 2022.

Why is the audit by BF Borgers important for Demand Brands (DMAN)?

The audit is crucial for compliance with GAAP and PCAOB standards, enhancing the credibility of their financial reporting.

What are the future plans of Demand Brands (DMAN) following the audit?

Demand Brands plans to file a registration statement in the U.S. after the audit is completed.

How does Demand Brands (DMAN) intend to improve shareholder relations?

The company aims to establish a refreshed relationship with shareholders by committing to transparency and regulatory compliance.