Business
Costas, Inc. Engages Independent Registered Public Accounting Firm, Progressing Corporate Roadmap
Costas, Inc. Engages Independent Registered Public Accounting Firm, Progressing Corporate Roadmap.
About this update from Standard Dental Labs Inc.
[{"type":"text","content":"ORLANDO, FL / ACCESSWIRE / August 24, 2022 / Costas, Inc. (OTC PINK:CSSI), Costas, Inc. ("CSSI" or "the Company"). About COSTAS (CSSI): http://www.otcmarkets.com/stock/CSSI/profile.COSTAS, INC. is a publicly traded company listed on OTCMarkets under the trading symbol 'CSSI'. The Company is pleased to report that it has recently engaged an Independent Registered Public Accounting Firm to audit the financial results for Costas, Inc. (OTCMKTS: CSSI) and Prime Dental Lab LLC. for the most recent two fiscal years ended December 31, 2021 and 2020, and the six-month comparative interim periods ended June 30, 2022 and 2021. As previously announced, on August 15, 2022, Costas entered into an agreement to purchase the assets of Prime Dental Lab LLC, including its client base and revenue (the "Asset Purchase Agreement").The Independent PCAOB Registered Public Accounting Firm will audit both companies according to US GAAP; including a review of revenue recognition policies in accordance with ASC 606.The objective for Costas is to become a fully reporting issuer with a class of securities registered with the Securities and Exchange Commission ("SEC"), while substantially growing revenue generating operations via the acquisition of central labs with existing manufacturing capabilities. The Company expects to complete the audits and file a Form S-1 Registration with the SEC. Within the next few months, CSSI hopes to be listed on the OTCQB and maintain business as a fully reporting issuer.Completing this process will further empower the Company to acquire similar dental labs, and consolidate regionally throughout the United States. Market research published by Research and Markets anticipates the global dental laboratories market to reach USD 43.5 billion by 2028 and is expected to expand at a CAGR of 5.5%. "…the dental laboratory market is highly fragmented and is anticipated to witness significant merger and acquisition activity from both large dental service organizations and private equity firms." (Research and Markets, 2021). CSSI will continue to manage market growth operating as Standard Dental Labs, and will continue its focus on consolidating qualified dental lab businesses.About Costas: https://costas-inc.com/about-usFORWARD LOOKING STATEMENTS:This press release and the statemen...