Business
Amfil Technologies Inc. Provides Shareholder Update On The Company Audit / Uplist Process
Amfil Technologies Inc. Provides Shareholder Update On The Company Audit / Uplist Process.
About this update from Amfil Technologies Inc.
[{"type":"text","content":"Amfil Technologies Inc. (OTC Pink: AMFE) would like to provide the following update to the shareholders regarding the upcoming audit filing and resultant up-list within the OTC Market Exchange.Throughout the month of January 2018, the company has been preparing itself for the completion of the audit that has been taking place over the last few months covering the last 3 years of financial statements. As mentioned previously, this is a necessary step in order to up-list to the OTCQB and OTCQX exchanges and was our first step towards the future spin-off and share dividend back to existing shareholders.On January 19th 2018 the company submitted through the OTC Market filing and disclosure service which is viewable here > https://www.otcmarkets.com/stock/AMFE/filings the OTCQB Certification documents which was the first step in the up-list process. This was done in order to fast-track the up-list process once the audited statements were uploaded as we knew they were not yet ready at that time but wanted to expedite the process as much as possible. As of January 30, 2018, OTC Markets is now awaiting upload of the audited statements. Based off prior discussions, we were hopeful and anticipated filing these statements on January 31st 2018 to complete the process however following an email and conference call with the auditors yesterday we still have a few information requests and modifications before we can submit. We are working diligently to get these items off of the checklist and complete the process. We are very close to finally putting this initial 3 year audit application behind us. Moving forward, annual audits and if needed, quarterly reviews are much less encumbering and time consuming compared to this first multi-year audit.The process has taken longer than expected. That being said, while the audit process continued, the company has also continued to execute the business plan that produced the successful expansion and growth in the quarterly and year end financial statements throughout 2016 and 2017. We are very happy with where the company is today, the strongest it has ever been. Statement from Roger Mortimer, President & CEO of Amfil Technologies Inc:“I can understand some frustration from shareholders with regards to the completion of the audit and up-list process and I want everyone to know that it is equa...