Groove Botanicals, Inc. Retains PCAOB Auditor TAAD, LLP to Perform Fiscal Year 2020 & 2021 Audits

Rhea-AI Summary

Groove Botanicals, Inc. (OTC: GRVE) has engaged CPA firm TAAD, LLP to audit its financial statements for FY 2020 and 2021. This move aims to enhance transparency and investor confidence by ensuring accurate financial reporting. The audits are expected to conclude by March 2022, facilitating Groove's transition to a fully reporting public company on OTC Markets. President Kent Rodriguez emphasized that TAAD's expertise will support Groove's public listing goals and commitment to health-oriented consumer products, including CBD and plant-based extracts.

Positive

• Engaged CPA firm TAAD for audits to enhance financial transparency.
• Expected completion of audits by March 2022 to facilitate public reporting status.

Negative

• None.

MINNEAPOLIS, MN, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Groove Botanicals, Inc. (“Groove” or the “Company”) (OTC: GRVE) today announced that it has retained the audit services of CPA firm TAAD, LLP,  https://taadllp.com/ (“TAAD”), to perform audits of the Company’s Fiscal Year 2020 and 2021 financial statements.

The objectives of the audits are to provide investors with greater transparency and certainty surrounding Groove’s financial reporting as well as to receive the auditor's expression of an opinion on the financial statements to ensure the content is fairly presented. Upon completion of the audits, the Company plans to take the next steps to becoming a fully reporting public company on the OTC Markets.

Kent Rodriguez, President and CEO of Groove Botanicals, Inc., commented: “Groove is pleased to announce that the Company has retained CPA firm TAAD, LLP to conduct a two-year audit of our 2020 and 2021 financial statements, estimated to be completed by March 2022. TAAD is registered with the PCAOB and the AICPA and provides assurance, tax, and consulting services to companies that are planning to go public or are already publicly traded in the U.S. Upon completion of these audits, Groove will be a fully reporting public company,” concluded Mr. Rodriguez.

About Groove Botanicals, Inc.

Groove Botanicals, Inc., (OTC: GRVE) is a consumer health products company dedicated to improving people’s health and well-being. We are dedicated to creating novel consumer products that optimize human health. Our products contain premium hemp and Curcuma plant-based extracts that contain a broad range of cannabinoids, including cannabidiol (CBD) and natural vegan water-soluble derivatives.  They are crafted with care for daily health and wellness to boost the immune system, create balance within the body, and unlock the beneficial properties of our organic plant-based product-based extracts.    We will assemble a portfolio of assets via royalty agreements, equity investments, licensing agreements, and our own proprietary innovative CBD skincare products.

Forward-Looking Statements     

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Groove Botanicals, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

FOR FURTHER INFORMATION, please contact:

FAQ

What is Groove Botanicals, Inc.'s recent audit announcement?

Groove Botanicals has retained TAAD, LLP to audit its financial statements for FY 2020 and 2021 to improve financial transparency.

When will Groove Botanicals complete its financial audits?

The financial audits are estimated to be completed by March 2022.

What is the significance of TAAD conducting Groove's audits?

TAAD, LLP's audit is intended to provide an opinion on the financial statements, ensuring they are fairly presented for investor confidence.

How does the audit affect Groove Botanicals' public reporting status?

The completion of the audits will enable Groove to become a fully reporting public company on the OTC Markets.

What types of products does Groove Botanicals focus on?

Groove Botanicals specializes in consumer health products, including premium hemp and CBD extracts aimed at improving health and wellness.