TX Rail Products, Inc. Engages Griffith, De Laney, Hillman & Lett as Its Independent Auditor

Rhea-AI Summary

TX Rail Products, Inc. (OTC Markets PINK: TXRP), a supplier of rail products to the U.S. coal mining industry, short line railroads, and tunneling contractors, has engaged Griffith, De Laney, Hillman & Lett as its independent auditor. This PCAOB registered firm will audit TXRP's financial statements for the period ending September 30, 2024.

CEO Mr. Shrewsbury stated that this engagement is an important step towards uplisting TXRP's stock to a national exchange. He also mentioned the company's improving financial results and positioning for continued business improvements. Griffith, De Laney, Hillman & Lett is a boutique accounting firm based in the tri-state area of Kentucky, specializing in middle-market companies.

Positive

• Engagement of a PCAOB registered auditing firm
• Step towards uplisting to a national exchange
• Reported improving financial results in recent quarters

Negative

• None.

ASHLAND, Ky., Sept. 12, 2024 (GLOBE NEWSWIRE) --  TX Rail Products, Inc. (OTC Markets PINK: TXRP), a supplier of rail and rail products to the U.S. coal mining industry, short line railroads and tunneling contractors, today announced it has engaged Griffith, De Laney, Hillman & Lett, a PCAOB registered accounting and auditing firm to perform an audit of the company’s financial statements for the period ending September 30, 2024.

Mr. Shrewsbury, CEO and Chairman of TX Rail Products, Inc., commented, “We are pleased to engage Griffith, De Laney as our independent audit firm, an important next step towards uplisting our stock to a national exchange. We have delivered improving financial results in recent quarters and are well-positioned to continue to drive improvements in our business. Engaging an independent audit firm will help provide the highest level of assurance in our reported results.”

Based in the tri-state area of Kentucky, Griffith, De Laney, Hillman & Lett is a boutique accounting firm focused on serving middle-market companies. The firm offers its clients a full spectrum of traditional tax, accounting, audit and consulting services.

Forward-Looking and Cautionary Statements

Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) and other applicable law. When used, the words "believe", "anticipate", "estimate", "project", "should", "expect", "plan", "assume" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Forward-looking statements are based on the Company's current assumptions regarding future business and financial performance. Forward-looking statements concerning future plans or results are necessarily only estimates and actual results could differ materially from expectations. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the following: our ability to implement our business strategy; our financial strategy; a downturn in economic environment; our failure to meet growth and productivity objectives; a failure of our innovation initiatives; risks from investing in growth opportunities; fluctuations in financial results and purchases; the impact of local legal, economic, political and health conditions; adverse effects from environmental matters and tax matters; ineffective internal controls; our use of accounting estimates; our ability to attract and retain key personnel and our reliance on critical skills; impact of relationships with critical suppliers; currency fluctuations and customer financing risks; the impact of changes in market liquidity conditions and customer credit risk on receivables; our reliance on third party distribution channels; Securities and Exchange Commission regulations related to trading in "penny stocks;" the continued availability of certain financing provided by our CEO; and other risks, uncertainties and factors or in materials incorporated therein by reference. Any forward-looking statement in this release speaks only as of the date on which it is made. We assume no obligation to update or revise any forward-looking statement. Notwithstanding the above, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1933, as amended, expressly state that the safe harbor for forward looking statements does not apply to companies that issue penny stocks. Because we may from time to time be considered to be an issuer of penny stock, the safe harbor for forward looking statements under the PSLRA may not be apply to us at certain times

FAQ

What auditing firm has TX Rail Products (TXRP) engaged for its financial statements?

TX Rail Products (TXRP) has engaged Griffith, De Laney, Hillman & Lett, a PCAOB registered accounting and auditing firm, to perform an audit of the company's financial statements for the period ending September 30, 2024.

Why is TX Rail Products (TXRP) engaging an independent auditor?

TXRP is engaging an independent auditor as an important step towards uplisting its stock to a national exchange and to provide the highest level of assurance in its reported financial results.

What period will Griffith, De Laney, Hillman & Lett audit for TX Rail Products (TXRP)?

Griffith, De Laney, Hillman & Lett will audit TX Rail Products' (TXRP) financial statements for the period ending September 30, 2024.

What industries does TX Rail Products (TXRP) serve?

TX Rail Products (TXRP) is a supplier of rail and rail products to the U.S. coal mining industry, short line railroads, and tunneling contractors.