Business
Emergent Health Subsidiary PharmaZu Retains BF Borgers to Audit its Financial Statement as required by the Engagement Letter with Boustead Securities
Emergent Health Subsidiary PharmaZu Retains BF Borgers to Audit its Financial Statement as required by the Engagement Letter with Boustead Securities.
About this update from Emergent Health Corp.
[{"type":"text","content":"New York, NY / May 9 , 2023 / Emergent Health Corp. (OTC PINK: EMGE), a curator, developer, and marketer of products in the Regenerative Health Space announced that it has engaged BF Borgers CPA PC, a full-service audit, tax, accounting, and advisory firm, as its Public Company Accounting Oversight Board (“PCAOB”) qualified auditor to audit the Company’s financial statement for the two-year period ending December 31st, 2022 according to Generally Accepted Accounting Principles (“GAAP”). GAAP is the accounting standard adopted by the Securities and Exchange Commission (“SEC”) and is the default accounting standard used by companies based in the United States.Just last week on Thursday May 4th, 2023, Emergent executed an Engagement Letter with Boustead Securities LLC. to act as exclusive financial advisor with respect to a planned corporate financing transaction including the private placement of securities (“pre-IPO Financing”) and a planned $10 million initial public offering of Emergent subsidiary PharmaZu common stock (“IPO”) that will apply for listing on NASDAQ with NO DILUTION to the Emergent Shareholders. PharmaZu is a pure play, e-commerce products and service provider focused on the Pet Community, Pet Pharmacy and Pet Wellness using Influencers and their content, including pet pharmacy, vet telehealth and pet wellness businesses. Upon the effectiveness of the IPO and listing on NASDAQ, PharmaZu plans to acquire a 49-state authorized compounding pharmacy located in West Palm Beach, FL, doing approximately $10M a year in revenue, which will serve as the backbone and fulfilment center for PharmaZu, creating a national platform throughout the United States. The raise of capital will be used for expanding PharmaZu’s business, product offerings, as well as for acquisitions. Subsequently, Emergent plans to distribute the shares of PharmaZu as a dividend to its shareholders, pro rata at NO COST to the Emergent Shareholders.Jim Morrison, former L'Oréal President and Emergents full time CEO stated, “As we first announced last week, the PharmaZu IPO is not only an enormous opportunity for the founders and leadership of PharmaZu, it is also a seminal event for the shareholders of Emergent Health. We are very serious about the PharmaZu IPO and have selected a \"best-in-class\" audit firm in B F Borgers as o...