CBSC begins independent Financial Audit through MaloneBailey, LLP.
ESCONDIDO, CA / ACCESSWIRE / October 5, 2021 / CB Scientific. Inc. (OTC PINK:CBSC) ("CBSC" or the "Company") is a provider of remote ECG cardiac monitoring products and services; simple wearable solutions for detecting potentially life-threatening heart arrhythmias in patients with heart-related issues, both domestically and internationally.
The company has announced that they have engaged MaloneBailey LLP, a certified public accounting firm in Houston, Texas. MaloneBailey LLP to audit financial statements of CBSC and its subsidiaries, which comprise the year-end balance sheet as of March 31, 2021, and the related statements of income, all of which are to be included in the annual report to be filed by CBSC to OTC Markets, thus qualifying for an uplifting to the OTCQB listing. The audit will be performed independently by MaloneBailey with the objective of meeting the standards of the Public Company Accounting Oversight Board (PCAOB) (United States) and in accordance with auditing standards generally accepted in the United States of America. The audit also includes obtaining an understanding of the entity and its environment, including its internal control, sufficient to plan the audit and determine the nature, timing, and extent of audit procedures to be performed.
U.S. companies must have independently audited annual financials by a PCAOB auditor to meet the OTC Markets up-listing requirements to move the company from trading on the OTC Pink to the OTCQB (The Venture Market). The audit is expected to be completed within eight weeks.
As new developments occur, CB Scientific plans to make further announcements through press releases and regulatory filings to keep its shareholders, industry participants, and the public markets informed.
About MaloneBailey, LLC:
With an international reach and the ability to serve local and abroad companies, MaloneBailey, LLP proudly delivers audit, tax, and consulting services to public and private companies, both small and mid-market. The firm is an established market leader in the delivery of audit services to publicly traded clients, with a substantial number of U.S., listed registrants as clients, including NYSE, NASDAQ, and OTC listed companies. In addition, MaloneBailey's team of experienced accounting professionals offers a range of services under AICPA, SEC, PCAOB, IRS, and CPAB rules, as they apply.
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CB Scientific Inc. - Company Contact Information:
340 State Place
Escondido, CA 92029
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SOURCE: CB Scientific, Inc.