Power Americas Resource Group Seats First Members of Audit Committee
Power Americas Resource Group Ltd. (OTC: PARG) has appointed three members to its Audit Committee: Prabhu Rajendiran, Kumar Elumalai, and Ramasamy Balasubramanian, who is also the Treasurer, CFO & Chairman.
The company has retained Lockett + Horwitz as its special securities counsel to enhance its operational capacity. Ramasamy Balasubramanian emphasized their commitment to building a robust internal and external team to capitalize on opportunities in the growing Digital Twin marketplace.
PARG focuses on its proprietary technology, Twin Infra, an integrated SaaS solution aimed at optimizing construction processes through digital modeling.
- Appointment of a dedicated Audit Committee to ensure compliance and oversight.
- Retention of experienced legal counsel to support business operations and compliance.
- Commitment to building a capable team to drive growth in the Digital Twin marketplace.
- The company may face challenges in securing construction contracts necessary for profitability.
- Ongoing development stage expenses may not be offset by generated revenues.
MIRAMAR, FL, Feb. 16, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Power Americas Resource Group Ltd. (OTC: PARG) (the “Company” or “PARG”), a publicly traded, fully reporting emerging growth company commercializing its Digital Twin technology “Twin Infra” for the international construction industry, is pleased to announce that the Company has seated three board members for its recently announced Audit Committee.
The first three Board Members of its Audit Committee include Prabhu Rajendiran, Kumar Elumalai, and Ramasamy Balasubramanian, Treasurer, CFO & Chairman of Power Americas Resource Group.
Additionally, the Company is pleased to announce that it has retained Lockett + Horwitz, a Professional Law Corporation, as its special securities counsel. The firm is based in Orange County, California and provides legal services for a myriad of industries and matters including business operations, entity formation and structuring, intellectual property protection, raising of capital, mergers and acquisitions, financing, contracts, and general corporate compliance for both private and public companies.
“We continue to build an external and internal team to help us create, manage, and officiate the unique opportunity we envision for Power Americas in the rapidly expanding Digital Twin marketplace,” stated Ramasamy Balasubramanian, Treasurer, CFO & Chairman. “We want to ‘get it right’ from inception and believe that the diversity of expertise we’ve assembled will be accretive to our success and of benefit to our shareholders.”
ABOUT US:
Power Americas Resource Group Ltd. (PARG) is the owner of various proprietary assets and intellectual property collectively known as "Twin Infra". Twin Infra is a complete IT -- SaaS solution for the Construction/Infrastructure industry based on the concept of "Digital Twin". A Digital Twin is a virtual representation of an object or system that spans its lifecycle from concept to retirement. It is manifested as an Analytical/Digital or 3D Model and is updated from real time-data captured by people or Systems, that is fed by people, systems, equipment, or sensors to help in streamlining, decision making and optimization of the construction, management, or maintenance processes. The Twin Infra module is an integrated SaaS based cloud platform to manage data models, people, process, and assets throughout the lifecycle of a construction project. The Twin Infra module has project management, process management, design data management and predictive analytic features to anticipate and forecast in all the stages of Construction/Infra from Design to Handover and maintenance. It works on public, private, and virtual cloud infrastructure and uses Artificial Intelligence for operational insights and efficiency.
SAFE HARBOR FORWARD LOOKING STATEMENTS:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and secure construction contracts and the necessary assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC and/or OTCDNS filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
Company Contact Information:
Principal Executive Offices:
3350 SW 148th Avenue
Suite 203
Miramar, FL 33027
(888) 507-4751
www.poweramericas.net
info@poweramericas.net
Investor Relations & Financial Media
Integrity Media Inc.
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Toll Free: (888) 216-3595
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