MIRAMAR BEACH, FL, Dec. 21, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- MasterBeat Corporation ( MSTO), a company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals, collectible classic automobiles, and other tangible assets through its subsidiary SBQ Holdings, LLC, is pleased to announce Malone Bailey, LLP has completed the audit of the company’s consolidated financial statements as of December 31, 2018 and December 31, 2019, including the consolidated balance sheets and statements of income, changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements, all of which are intended to be included in the report (Form 10) proposed to be filed by the Company under the Securities Exchange Act of 1934 and/or Regulation A Crowdfund around April 1st of 2021.
On March 11, 2020, the Company announced The retention of “Award Winning Certified Public Accounting Firm, Malone Bailey, LLP.” The Company appointed Malone Bailey, LLP ("Malone Bailey") to conduct an audit of the Company's consolidated financial statements and effectiveness of its internal controls for the fiscal years ended December 31, 2018 and 2019.
The completed audit, by Malone Bailey, adds immense and immediate credibility and value to the Company and its shareholders. The Company’s audit of its consolidated financial statements opens a wide spectrum of growth opportunities with regards to acquisitions, funding and traditional financing in addition to its proposed Form 10 and/or Regulation A Crowdfunding. The Company will continue to work closely with Malone Bailey for the foreseeable future.
“We are incredibly pleased to be working with such a reputable firm as Malone Bailey. Working closely with Malone Bailey has allowed us to re-evaluate the legal and financial structuring of our asset acquisitions, in addition to evaluate and restructure our internal controls regarding our financial reporting. We know our ongoing relationship will help to exponentially grow the company with traditional access to capital, in addition to the upcoming Form 10 and/or Regulation A Crowdfund filings,” stated Josh Tannariello, CEO of MasterBeat Corp. “We had to make changes to our prior reporting and had to remove certain assets to better restructure the acquisition agreements and further protect shareholder value. These assets will be added back to the balance sheets in Q4 2020. We will be uploading all audited financial statements associated with the audited fiscal years over the next several days.”
About Malone Bailey, LLP
Founded in 1982, Malone Bailey, LLP is Based in Houston, Texas, and with offices in New York, Beijing and Shenzhen. Malone Bailey is an international public accounting firm with deep knowledge and experience in the delivery of SEC audit services to small and mid-cap publicly traded clients with over 140 registrants as clients, including , NASDAQ and AMEX listed companies. For more information about Malone Bailey, visit www.malonebailey.com.
About MasterBeat Corp.
MasterBeat Corporation ( MSTO), incorporated under the laws of Delaware, is a publicly traded company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals, and other tangible assets. The company believes its progressive approach to an old school model, especially in this market based on fragile earnings multiples and uncertainty, to acquire hard, tangible assets will not only offer long term capital appreciation but also deliver revenues, profits, and self-sustainability.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
Contact:
Josh Tanneriello
561-570-7050
[email protected]
