17 Feb 2022
Readen Holding Corporation (OTC PINK: RHCO) Announces the Appointment of PCAOB Auditor to Prepare for Up Listing Application
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that the Company has appointed J&S Associate (AF002380) (Registered with US PCAOB and Malaysia MIA) (jns-associate.com) as the Auditor for the Company’s up listing initiative.
As an independent certified US PCAOB Auditor, J&S will conduct the audit of the Company’s financial statements in accordance with the standards established by the Public Company Accounting Oversight Board (PCAOB). J&S will audit the consolidated balance sheet of the Company of recent years, the related consolidated statements of operations, comprehensive income, stockholders' equity, cash flows, and schedules supporting those financial statements. Based on the audit, it will issue a written report on the Company's financial statements and schedules supporting the financial statements, all of which are to be included in the General Form for Registration of Securities (Form 10) proposed to be filed by the Company under the Securities Exchange Act of 1934. Accordingly, the objective of the audit is the expression of an opinion about whether the Company's financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States.
The audit is an essential process of RHCO’s up listing plan. The Company is currently listed in OTC PINK but plans on making application with OTC Markets for public quotation on the OTCQB in the coming months. The preparation of audited financial statements and notes thereto will allow the Company to immediately make direct application to OTC Markets for an up list to the OTCQB.
Richard Klitsie, CEO of RHCO stated, “This is one important step for RHCO to make the Company a fully functional and transparent publicly traded entity. We believe the audit process will be smooth, and the up listing of RHCO can be realized in a matter of months. It will certainly bring us a whole new level of market activity and strength for our stocks. It will also bring in many new investor eyes on RHCO as we start to flourish in multiple business. It will be a big boost to our already exciting strategic business plan of action, and will also bring increased market activity which will be a direct benefit to our current and future shareholders."