CHVC.PK continued to reach a new today after increasing over 100% from our “One to Watch” alert two weeks ago. Today the company announced that it has retained the services of three professional accounting firms to complete its U.S. and China Subsidiary audits by the end of this year.
China Voice Holding’s Chief Financial Officer, Ron Allen, stated, “We previously announced that CHVC had retained BKR Cornwell Jackson to perform audits. We have committed the resources to finish this task by the end of this year. Upon completing all regulatory requirements, we will, at that time, apply for a listing on the NASDAQ or AMEX. We have assembled a solid team of auditing firms to quickly and efficiently complete this task.”
He continued to say, “The Company has also achieved a higher level reporting status with the Over-the-Counter (Pink Sheets) Exchange within the past two weeks. The new reporting status is progress for the Company and is preliminary to the filing of appropriate documents with the Securities and Exchange Commission to become a fully reporting company. This higher status combined with the audit underway and being approved by on-line trading with brokerage firms should be a major step forward for the Company within the investment community.”
He commented, “Argy, Wiltse & Robinson, P.C. (AWR) has been retained as our independent accounting firm to manage the Audit as well as consult CHVC through the process. AWR is a full-service, independent public accounting firm that combines the expertise of a “Big 4” or national accounting firm with the responsiveness of a local firm. We felt that AWR was the perfect complement to this project as they are very proactive and typically redefine the way professional services are normally delivered.”
In conclusion, Mr. Allen stated, “The last important component necessary in completing this audit project was finding a reputable accounting firm that was based in the U.S. but had accounting operations in China. We were fortunate to have found this company and they have already been deployed to our Beijing Offices. Their responsibility is to translate the financials into English, post the necessary adjustments to comply with U.S. GAAP, and pull together the detailed schedules and supporting documents as well as dispatch as senior bilingual Accountant to provide support to our Auditors when they visit our offices in Beijing.”
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