ON4 COMMUNICATIONS SELECTS MAZARS USA LLP TO AUDIT 2017 AND ALL FINANCIALS MOVING FORWARD
New York, NY -- October 05, 2017-- InvestorsHub NewsWire -- On4 Communications (OTC: ONCI) today announced it has interviewed 2 audit firms in New York, and decided to select Mazars USA LLP.
CEO Steve Berman comments, "It has always been my goal to have fully audited financials and we are close to that goal today. I chose Mazars LLP because of their expertise in foreign accounting as we are now a global company. I will post the engagement letter on twitter later this afternoon. Audit expected to last 6 to 8 weeks. Upon completion all requirements for OTC QB will be met, and maintaining a .01 bid price would be all that remains."
"We would also like to announce that we have signed a contract with a northern Florida auto group with 6 dealerships including Chevy, Kia, Hyundai, Ford, Nissan and Toyota. Each dealership will take 20 units per month at $200 per unit for a grand total of $288,000 per year."
"We are also pleased to announce that we have entered into a contract with a large southwestern extended warranty company; we will be selling their products which include extended warranties, tire and wheel and other after market products in our dealer network and they will be selling our apps in their dealer network. They will start with 50 units per month at $200 per unit and a grand total of $120,000 per yr."
"In addition, I will be travelling back to Kuala Lumpur on October 23rd for meetings with Malaysian cell phone companies, with the hope of selling our apps at their retail locations. There are over 600 retail locations in Malaysia. I will also be meeting with our attorney in Asia regarding finalization on the first manufacturing facility which is expected by November 30 2017. This acquisition will be financed with a loan against receivables."
"The 3rd reduction of the share structure is as follows: I am owed a bonus of 150 million shares for my work in 2016 and 2017. I will not be taking this bonus and the 150 million shares will not be added to our share structure. I will not be taking any bonuses going forward as I want to have as much cash available for operations, and my compensation package for 2018 is being reviewed by the board to reflect these changes."
Berman adds, "I would also like to announce that we will have a shareholder conference call on November 10 ,2017, time and dial in number will be announced shortly."
"Additional revenue contracts coming next week, and working on M&A with an update expected within 2 weeks." CEO Steve Berman concludes.
About On4 Communications
On4 is a holdings company with an aggressive focus of acquiring proven and profitable businesses. Our first project is focusing on businesses operating in the $1.7 trillion U.S. healthcare industry. Our newest targeted businesses are operating in the trillion-dollar mobile App space. Our first acquisition in the mobile App space is FMS Marketing a global creator and distributor of mobile Apps for Android and Iphones. We are also targeting businesses to acquire and joint venture with in the medical marijuana and emerging MJ ancillary products space.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.