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NEWPORT BEACH, Calif, April 17, 2018 -- Vemanti Group, Inc. (OTC PINK:VMNT), a technology-driven holding company, today announced the official start of another important initiative. The Company has retained Irvine-based Ramirez Jimenez International CPAs, a PCAOB-registered firm (“RJI”), to perform financial audits for the 2016-17 fiscal years to commence its effort in becoming a fully-reporting company with the Securities and Exchange Commission – with intention on upgrading to the OTCQB or OTCQX and eventually a major exchange, such as the NASDAQ.
Following a successful audit, the Company will make all required SEC filings and, once accepted, will be subject to all rules and regulations applicable to reporting companies under the Exchange Act. The Company’s securities, which are currently quoted on the OTCPink under the ticker symbol VMNT, would then have an opportunity to be quoted on the other quotation platforms offered by the OTC Markets Group (“OTC Markets”) – OTCQB or OTCQX. The Company will maintain an independent Audit Committee and provide annual financial statements audited by a Public Company Accounting Oversight Board (“PCAOB”) auditor and unaudited interim financial reports, prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).
“We take transparency and shareholder confidence very seriously. It has always been our intention from the start to move to a higher and more recognized exchange. With our fundamentals now stronger than ever and with our business prospects shaping up nicely, completing a financial audit to become SEC fully-reporting is the natural next step for us. We want to show the investment community our commitment to building a sustainable company,” stated Tan Tran, Chairman and CEO of Vemanti Group.
With solid legal and audit representation, the Company is confident that the process can be completed within six (6) months. However, the audit can be subject to delays due to legacy issues; status change can be subject to delays due to SEC comments; and, quotation upgrade applications can be subject to delays due to review and/or revisions from the OTC Markets Group. Regardless, while going through the entire process, the Company will continue to evaluate options to maximize the value of the Company's assets, including opportunities to invest in or acquire one or more businesses that provide revenue opportunities or increased valuation.
About Vemanti Group, Inc.
Vemanti Group, Inc. (OTC PINK:VMNT) is a technology-driven holding company that seeks to be active in high-growth and emerging markets. Our core strengths are in technology development and investment. We drive growth through acquisition and investment in disruptive and foundational technologies by targeting early-stage companies that have market viable products or by starting a new subsidiary of our own. Strategically, we focus mainly on blockchain applications combined with other emerging technologies, including machine learning/AI, security and internet of things (IoT). For more information, please follow: http://www.vemanti.com
Legal Disclaimer
This press release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.
Contact Information Vemanti Group, Inc. Investor Relations (800) 768-1288 [email protected]
