PENNEXX has Engaged Top Tier PCAOB Audit Firm Assurance Dimensions to Audit Their Financials and Assist the Company in its Up-Listing to OTCQB

Rhea-AI Summary

Pennexx Foods Inc. (PNNX) has engaged Assurance Dimensions to initiate the audit process required for uplisting to the OTCQB. This step is crucial for enhancing investor confidence, as audited financials assure stakeholders of the company's financial integrity. Uplisting will also broaden the appeal of Pennexx to institutional investors. CEO Vincent Risalvato expressed excitement over achieving this goal, indicating a commitment to transparency through generally accepted accounting practices (GAAP). Assurance Dimensions, with a strong client base, will aid in this initiative.

Positive

• Engagement of Assurance Dimensions for formal financial audit.
• Uplisting to OTCQB expected to enhance investor confidence.
• Audited financials will attract a broader range of institutional investors.

Negative

• None.

Philadelphia, PA, Feb. 04, 2021 (GLOBE NEWSWIRE) --

 via NewMediaWire -- Pennexx Foods Inc. (PNNX) signed an agreement with Assurance Dimensions, a certified PCAOB, to begin the formal audit process for the financials necessary to up by utilizing to the OTCQB.

Having audited financials provides the public with assurance that their financial statements can be relied upon. This provides an excellent indicator toward investor confidence. 

Being audited and up-listed to the OTCQB enables the company to be purchased by a greater range of institutional investors.

This will validate that Pennexx is maintaining its finances by utilizing generally accepted accounting practices (GAAP), providing transparency.

Assurance Dimensions https://assurancedimensions.com was founded in 2008, has four offices in Florida, and services over 400 clients a year. Their mission is to provide their “clients with unparalleled service, quality, and expertise to help them make informed financial decisions in the present and future.”

Vincent Risalvato, CEO of Pennexx, said, “Elevating the status of the company to an audited status has been a goal since YourSocialOffers.com joined Pennexx and we are excited to work with the experienced staff at Assurance Dimensions.” 

According to https://myboyum.com/ma-and-due-diligence/do-reviewed-or-audited-financial-statements-add-value/, “These services are an investment in the company that can improve the business and lead to greater earnings in the long run.”

For More Information

Pennexx will do their best to openly and publicly answer your questions and concerns via social media on Twitter https://twitter.com/pennexx @pennexx, or you may email investors@pennexx.net.

You may also follow them on Twitter; Ms. Sunny Sweet (@sunnysweettweet) https://twitter.com/sunnysweettweet, Joe Candito (@jcandito) https://twitter.com/jcandito and Mr. Risalvato (@vrisalvato) https://twitter.com/vrisalvato.

About Pennexx Foods Inc.

About Pennexx Foods Inc. (PNNX: OTCMKTS US). Pennexx, through its wholly-owned subsidiaries, is a holding company within the Software/Internet Industry focused on social media, prepaid debit cards, BitGift™, artificial intelligence, targeted marketing, and consumer rewards.

Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.

For additional information, you may also visit our website at https://yoursocialoffers.com or https://pennexx.net or call 866-928-6409. Please follow us on Twitter @Pennexx.

FAQ

What is the significance of the agreement between Pennexx Foods Inc. and Assurance Dimensions?

The agreement is significant as it marks the beginning of the audit process necessary for Pennexx Foods Inc. (PNNX) to uplist to the OTCQB, enhancing financial transparency and investor confidence.

How will the audit process impact PNNX shareholders?

The audit process is expected to improve investor confidence in PNNX's financial statements, potentially leading to increased interest from institutional investors.

What are the benefits of uplisting to the OTCQB for Pennexx Foods Inc.?

Uplisting to the OTCQB will provide greater visibility, credibility, and access to a broader range of institutional investors, which could positively impact PNNX's stock performance.

Who is leading the audit process for Pennexx Foods Inc.?

The audit process for Pennexx Foods Inc. is led by Assurance Dimensions, a certified PCAOB auditor.

What is the role of audited financials in the context of PNNX?

Audited financials play a critical role in assuring investors of the accuracy and reliability of PNNX's financial statements, which is essential for building trust and attracting investments.