Xcelerate, Inc. Releases Shareholder Update
Xcelerate, Inc. (OTCQB:XCRT) CEO Mike O'Shea released a shareholder update on August 13, 2024. The company faced a setback when the SEC charged their independent auditors, BF Borgers CPA PC, with misconduct and banned them from practicing. This required Xcelerate to reaudit their financial statements. In response, they retained Bush and Associates CPA as new auditors, who completed the reaudit for 2022-2023 and audited ESN Group's financials for 2021-2022. On July 30, 2024, Xcelerate filed an amended registration statement on Form S-1/A with the SEC. The company now plans to pursue its NASDAQ listing application and work with Craft Capital Management as their new underwriter to raise capital for their business plan.
Il CEO di Xcelerate, Inc. (OTCQB:XCRT), Mike O'Shea, ha rilasciato un aggiornamento agli azionisti il 13 agosto 2024. L'azienda ha affrontato un ostacolo quando la SEC ha accusato i loro revisori indipendenti, BF Borgers CPA PC, di cattiva condotta, vietando loro di esercitare. Ciò ha costretto Xcelerate a riaudire i propri bilanci finanziari. In risposta, hanno ingaggiato Bush and Associates CPA come nuovi revisori, che hanno completato la riaudita per il 2022-2023 e hanno revisionato i bilanci finanziari del gruppo ESN per il 2021-2022. Il 30 luglio 2024, Xcelerate ha presentato una dichiarazione di registrazione modificata sul modulo S-1/A alla SEC. L'azienda ora prevede di perseguire la sua domanda di quotazione al NASDAQ e collaborare con Craft Capital Management come nuovo sottoscrittore per raccogliere capitali per il loro piano aziendale.
El CEO de Xcelerate, Inc. (OTCQB:XCRT), Mike O'Shea, lanzó una actualización para los accionistas el 13 de agosto de 2024. La compañía enfrentó un revés cuando la SEC acusó a sus auditores independientes, BF Borgers CPA PC, de mala conducta y les prohibió ejercer. Esto obligó a Xcelerate a reauditar sus estados financieros. En respuesta, contrataron a Bush and Associates CPA como nuevos auditores, quienes completaron la reauditoría para 2022-2023 y auditaron las finanzas del grupo ESN para 2021-2022. El 30 de julio de 2024, Xcelerate presentó una declaración de registro enmendada en el formulario S-1/A a la SEC. La empresa ahora planea seguir con su solicitud de cotización en NASDAQ y trabajar con Craft Capital Management como su nuevo suscriptor para recaudar capital para su plan de negocios.
Xcelerate, Inc. (OTCQB:XCRT)의 CEO인 Mike O'Shea가 2024년 8월 13일 주주 업데이트를 발표했습니다. 이 회사는 SEC가 독립 감사인인 BF Borgers CPA PC에 대해 위법 행위로 고소하고 그들의 실무를 금지함에 따라 어려움을 겪었습니다. 이로 인해 Xcelerate는 재감사를 실시해야 했습니다. 이에 따라 그들은 Bush and Associates CPA를 새로운 감사인으로 채용하였으며, 이들은 2022-2023년 재감사와 2021-2022년 ESN 그룹의 재무 감사 작업을 완료했습니다. 2024년 7월 30일, Xcelerate는 SEC에 S-1/A 양식으로 수정된 등록신청서를 제출했습니다. 이제 이 회사는 NASDAQ 상장 신청을 진행할 계획이며, Craft Capital Management와 협력하여 사업 계획을 위한 자본을 모금할 예정입니다.
Le PDG de Xcelerate, Inc. (OTCQB:XCRT), Mike O'Shea, a publié une mise à jour pour les actionnaires le 13 août 2024. L'entreprise a connu un revers lorsque la SEC a accusé ses auditeurs indépendants, BF Borgers CPA PC, de mauvaise conduite et les a interdits d'exercer. Cela a obligé Xcelerate à réauditer ses états financiers. En réponse, ils ont engagé Bush and Associates CPA comme nouveaux auditeurs, qui ont complété la réaudite pour 2022-2023 et ont audité les finances du groupe ESN pour 2021-2022. Le 30 juillet 2024, Xcelerate a déposé une déclaration d'enregistrement modifiée sur le formulaire S-1/A auprès de la SEC. L'entreprise prévoit désormais de poursuivre sa demande de cotation au NASDAQ et de travailler avec Craft Capital Management comme nouveau souscripteur pour lever des fonds pour son plan d'affaires.
Der CEO von Xcelerate, Inc. (OTCQB:XCRT), Mike O'Shea, veröffentlichte am 13. August 2024 ein Update für die Aktionäre. Das Unternehmen stand vor einem Rückschlag, als die SEC ihre unabhängigen Prüfer, BF Borgers CPA PC, wegen Fehlverhaltens anklagte und ihnen die Berufsausübung untersagte. Dies veranlasste Xcelerate, ihre Finanzberichte neu zu prüfen. Als Reaktion darauf engagierten sie Bush and Associates CPA als neue Prüfer, die die Neuauditierung für 2022-2023 abschlossen und die Finanzdaten der ESN-Gruppe für 2021-2022 prüften. Am 30. Juli 2024 reichte Xcelerate eine geänderte Registrierungsanmeldung im Formular S-1/A bei der SEC ein. Das Unternehmen plant nun, seinen NASDAQ-Listungsantrag zu verfolgen und mit Craft Capital Management als neuem Underwriter zusammenzuarbeiten, um Kapital für seinen Geschäftsplan zu beschaffen.
- Completed reaudit of financial statements for 2022-2023
- Filed amended registration statement on Form S-1/A with SEC
- Pursuing NASDAQ listing application
- Engaged new underwriter Craft Capital Management for capital raising
- Delay in fundraising and uplisting process due to auditor issues
- Required to reaudit financial statements, causing potential time and resource constraints
MAULDIN, SC / ACCESSWIRE / August 13, 2024 / Xcelerate, Inc.'s (OTCQB:XCRT) CEO, Mike O'Shea, today released this letter and shareholder update.
Dear Shareholder,
On April 29, 2024, we announced that we had filed our annual report on Form 1-K with the SEC. This report included our annual independent financial audit for the years ended 2022 and 2023. Our intent was to then file our amended registration statement on Form S-1/A with the SEC in order to continue our fundraising and uplisting process. On May 03, 2024, the SEC announced that it had charged our independent auditors at the time, BF Borgers CPA PC, alleging that "Ben Borgers and his audit firm, BF Borgers, were responsible for one of the largest wholesale failures by gatekeepers in our financial markets," and permanently banned he and his firm from ever practicing before the commission. The SEC also announced that it would not accept audits undertaken by BF Borgers as part of any registration statement, requiring us to reaudit our financial statements that had been completed by BF Borgers.
As a result, on May 13, 2024, we announced that we had retained Bush and Associates CPA LLC, Henderson, NV, as our new auditors. Immediately thereafter, Bush and Associates, with the non-stop cooperation of our staff and advisors, completed the reaudit of our financial statement for the years ended December 31, 2023, and 2022, as well as the financial statement audits for the years ended December 31, 2021, and 2022 for ESN Group.
On July 30, 2024, we then filed our amended registration statement on Form S-1/A with the SEC.
https://www.sec.gov/Archives/edgar/data/1138586/000168316824005149/0001683168-24-005149-index.html
"I would personally and professionally like to thank our staff, advisors and, in particular, Chase Bush and Bush Associates for this herculean effort which will now allow us to pursue our previously filed application to list on the NASDAQ market and to work with our new underwriter, Craft Capital Management LLC, to raise the capital necessary move forward with our business plan" said Mike O'Shea, CEO.
Investors and stakeholders are encouraged to stay updated on the latest developments by visiting the Company's website at https://xcelerate.global/.
ABOUT XCELERATE INC.
In May 2020, Xcelerate commenced implementation of a new business plan that encompasses two separate but related businesses within the medical industry, including (i) owning and licensing the rights to various forms of medical equipment and portfolio of patents, patents pending and technology licenses and (ii) development of virtual health technology to assist patients in developing countries obtain medical care by extending the reach of physicians through the use of that technology. For more information visit www.xcelerate.global or contact us at 854-900-2020 or email info@xcelerate.global.
SAFE HARBOR
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.
SOURCE: Xcelerate
View the original press release on accesswire.com
FAQ
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