Novation Holdings, Inc. Announces Engagement of PCAOB Auditor and Accounting Firm in Preparation for Uplisting to OTCQB

Rhea-AI Summary

Novation Holdings, Inc. (OTCPINK: NOHO) has announced the retention of TAAD, LLC, a PCAOB-registered firm, to audit its financial statements for the periods ending August 31, 2020, and 2021. This audit is a crucial step towards filing a registration statement with the SEC and uplisting to the OTCQB exchange, expected to enhance liquidity and attract a broader range of investors. The audit process is set to be completed by the end of November 2021. CEO Michael Gelmon highlighted this as a significant milestone for the company.

Positive

• Retention of TAAD, LLC for PCAOB audit to enhance credibility.
• Intention to file a registration statement with the SEC for uplisting to OTCQB, which could improve liquidity and attract more investors.
• Expected completion of audit by end of November 2021, indicating timely progress.

Negative

• None.

RANCHO MIRAGE, Calif., Sept. 30, 2021 /PRNewswire/ -- Novation Holdings, Inc. (OTCPINK: NOHO) (the "Company"), a multi strategy holding company focused on identifying, developing, acquiring, and bringing technologies and solutions to the marketplace, is pleased to announce that it has retained TAAD, LLC, a PCAOB registered accounting and auditing firm to perform an audit of the company's financial statements for the periods ending August 31, 2020 and 2021. Upon the completion of the audit, the Company intends to file a registration statement to become a fully reporting company with the Securities and Exchange Commission (SEC) and to uplist onto the OTCQB exchange. 

TAAD, LLP has extensive experience working with many publicly traded companies and will commence working on the Company's audit immediately. The process for completion of the PCAOB audit is expected to be finalized by the end of November 2021.

Michael Gelmon, President and CEO of Novation Holdings, Inc., stated, "This is a major and long-awaited milestone. Completing our 2-year audit and listing on the OTCQB will vastly improve our liquidity potential by greatly expanding the universe of our potential investors ranging from retail and accredited to institutional investors."

PCAOB Audit Definition:

The Public Company Accounting Oversight Board (also known as the PCAOB) is a private-sector, nonprofit corporation created by the Sarbanes-Oxley Act of 2002 to oversee accounting professionals who provide independent audit reports for publicly traded companies. The PCAOB seeks to establish and maintain high quality auditing and related professional practice standards for audits of public companies, other issuers, and broker-dealers in support of its mission to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports.

About the Company

Novation Holdings, Inc. is a multi-strategy holding company focused on identifying, developing, acquiring, and bringing technologies and solutions across all market sectors. Currently, the company is searching/researching for new investment opportunities, with a principal business objective of either investing into and starting up new business opportunities or acquiring all or part of an existing business that will strengthen the Company's balance sheet and increase shareholder value. The Company is not limited to any particular industry or geographic region for purposes of making an investment or an acquisition. For more information, visit the Company's website at www.NovationHoldings.com. 

Safe Harbor Statement

This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets, and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge, and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.

Contact:

Novation Holdings, Inc. 
info@novationholdings.com
Twitter: @NovationNOHO

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SOURCE Novation Holdings Inc.

FAQ

What is the purpose of Novation Holdings' audit by TAAD, LLC?

The audit aims to prepare Novation Holdings (NOHO) for filing a registration statement with the SEC and for uplisting to the OTCQB exchange.

When is Novation Holdings expected to complete its audit?

The audit by TAAD, LLC is expected to be completed by the end of November 2021.

How will uplisting to OTCQB benefit Novation Holdings (NOHO)?

Uplisting to OTCQB is expected to improve liquidity and broaden the investor base, attracting retail, accredited, and institutional investors.

What financial periods will be audited for Novation Holdings?

The audit will cover the financial statements for the periods ending August 31, 2020, and 2021.