OMID Engages PCAOB Audit Firm; Targets OTCQB Up-List

Rhea-AI Summary

OMID Holdings, Inc. (OTC Pink: OMID) has retained M&K CPAS, PLLC to audit its financial statements for 2020, 2021, and 2022. The audits for 2020 and 2021 will commence immediately, targeting completion by Q2 2022. This move aims to prepare the company for SEC-reporting and an up-list to the OTCQB. CEO Adam Frank emphasized that this initiative, together with the company’s operational success, is expected to enhance stock liquidity and attract a broader range of investors.

Positive

• Retention of M&K CPAS for auditing signifies a serious commitment to transparency.
• Audits expected to facilitate up-listing to OTCQB, potentially increasing investor interest.
• CEO highlights operational success and growth, which may improve OMID's market perception.

Negative

• No immediate financial metrics provided to assess current performance.
• Audits may reveal potential financial discrepancies or weaknesses.

Phillipsburg, NJ, Dec. 21, 2021 (GLOBE NEWSWIRE) -- OMID Holdings, Inc. (OTC Pink: OMID) is pleased to announce that it has retained M&K CPAS, PLLC, a PCAOB registered accounting and auditing firm, to perform an audit of the company's financial statements for the years ending in 2020, 2021, and 2022. M&K has extensive audit experience and specializes in working with public companies across the United States. The audits for the years ending in 2020 and 2021 are expected to begin immediately with a target completion date in the second quarter of 2022. Upon successful completion of these activities, the company expects to become SEC-reporting and up-list to the OTCQB.

“As one of the key objectives for 2021, we have initiated an audit in preparation of a subsequent up-list. This activity, combined with our rapid growth and operational success, is expected to significantly improve the liquidity of OMID stock, vastly expanding the audience of potential investors ranging from retail and accredited to institutional investors.” stated Adam Frank, the Chairman & CEO of OMID Holdings, Inc.

About OMID Holdings, Inc.
OMID Holdings, Inc. is a publicly-traded (OTC Pink: OMID) Florida corporation which focuses on developing and manufacturing various health and wellness products at its FDA-registered manufacturing facility in Phillipsburg, NJ. With a diverse portfolio of product types, OMID specializes in formulations which contain cannabis extracts, primarily CBD, as well as other herbal ingredients. The company’s objective is to provide quality, integrity, and value with notable consumer benefits derived from all of its finished goods. Acts 2:12.
For more information about the company, please visit https://omidholdingsinc.com/.

Safe Harbor Act:  Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Adam Frank
Phone: +1 908-386-2880
Email: info@omidholdingsinc.com

FAQ

What is the significance of OMID Holdings retaining M&K CPAS?

The retention of M&K CPAS is crucial as it indicates a commitment to transparency and preparing for SEC-reporting, which can improve investor confidence.

What are the expected outcomes of the audits for OMID Holdings?

The audits are aimed at facilitating an up-listing to OTCQB, which could enhance liquidity and attract a wider range of investors.

When will the audits for OMID Holdings be completed?

The audits for the years ending 2020 and 2021 are expected to begin immediately, with a target completion date in the second quarter of 2022.

What is OMID Holdings' focus in its operations?

OMID Holdings focuses on developing and manufacturing health and wellness products, particularly those containing cannabis extracts and herbal ingredients.

What is the stock symbol for OMID Holdings?

The stock symbol for OMID Holdings is OMID, traded on the OTC Pink market.