Performance Drink Group Engages Auditor to Audit the Last Two years of Financials

Rhea-AI Summary

Performance Drink Group (OTC:PDPG) announced the engagement of a PCAOB auditing firm to conduct audits of its financials for 2021 and 2022. This move aims to attract larger acquisition opportunities as the company develops its beverage line and seeks cash-flow acquisitions. Following a change in management in fall 2022, significant steps were taken to clean up the share structure, including the retirement of over 7.7 million Series A Preferred shares and 300 million Common shares. The company emphasizes its commitment to increasing shareholder value through strategic growth.

Positive

• Engagement of PCAOB auditing firm to enhance credibility and attract acquisitions.
• Retirement of 7,716,219 Series A Preferred shares improves share structure.
• Retirement of 300,000,000 Common shares from previous officers bolsters shareholder value.

Negative

• None.

WHEAT RIDGE, CO / ACCESSWIRE / February 8, 2023 / Performance Drink Group, Inc. (OTC:PDPG) ("PDPG" or the "Company"), is thrilled to announce the engagement of a PCAOB auditing firm to audit 2021, 2022 and to date financials.

The Company continues to develop its beverage line while also seeking cashflow acquisition opportunities. "As I've stated, we are seeking cashflow acquisitions and completing an audit now, I believe will attract even larger opportunities. After cleaning up our share structure, an audit just makes sense to open the door for the biggest and best fit." said Jeffrey M. Canouse, CEO of Performance Drink Group.

The Company appointed a new CEO in the fall of 2022 and since then, new management has been working on an acquisition strategy and eliminating billions of potential shares. The first step was to retire 7,716,219 Series A Preferred shares back to the treasury. Phase two was to retire 300,000,00 Common shares from the previous officers of the Company. The final phase was reducing an existing registration by 950,000,000 shares.

About Performance Drink Group

Performance Drink Group is an emerging force in the development, production, and distribution of unique Sports Nutrition and Energy Drink solutions. The company is currently targeting growth in shareholder value through both organic and strategic channels.

For more information, please visit us at Performancedrinkgroup.com.

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management's view of Performance Drink's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Performance Drink, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Performance Drink's future results. The forward-looking statements included in this press release are made only as of the date hereof. Performance Drink cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Performance Drink undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Performance Drink.

Investor Relations:

770-235-6053
Home / Twitter
invest@performancedrinkgroup.com
www.performancedrinkgroup.com

SOURCE: Performance Drink Group Inc.

View source version on accesswire.com:
https://www.accesswire.com/738419/Performance-Drink-Group-Engages-Auditor-to-Audit-the-Last-Two-years-of-Financials

FAQ

What is the purpose of Performance Drink Group's recent audit announcement?

The audit aims to enhance credibility and attract larger cash-flow acquisition opportunities.

How many shares did Performance Drink Group retire in its recent restructuring?

The company retired over 7.7 million Series A Preferred shares and 300 million Common shares.

What does OTC:PDPG stand for?

OTC:PDPG is the stock symbol for Performance Drink Group.

What is the timeline for the financial audits by Performance Drink Group?

Performance Drink Group is auditing their financials for the years 2021 and 2022.