Endexx Corporation Announces the Appointment of Doug Williams, CPA, as Fractional CFO and Outlines Financial Roadmap
CAVE CREEK, Ariz., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Endexx Corporation (OTC: EDXC) is pleased to announce the appointment of Doug Williams, CPA, as Fractional CFO through his consulting firm, Alexander & Williams PLLC. Doug, who has extensive experience working with companies such as Endexx, brings valuable financial expertise to the team. His background in audit processes and corporate finance will complement the efforts of Endexx's newly strengthened management team, which is committed to driving transparency and operational efficiency across the company.
Endexx’s management team is focused on implementing a comprehensive financial roadmap aimed at strengthening internal controls, enhancing transparency, and positioning the company for long-term growth. The addition of Doug Williams is a key part of these efforts, ensuring the financial systems and operations align with industry best practices.
The financial roadmap includes:
• Audit Resumption: Endexx intends to move forward with its newly appointed auditors, Victor Mokuolu CPA PLLC (VMCPA), a firm well-regarded for its experience in auditing public companies, particularly those with complex financial structures. The firm specializes in audits for companies with revenues below $50 million, making them a strong partner for Endexx as it resumes its 2023 audit.
• Bookkeeping and Accounting Practices: Doug Williams will oversee the implementation of enhanced bookkeeping and accounting protocols, ensuring that financial records are accurate, comprehensive, and audit-ready.
• Transparency and Compliance: The management team will enhance financial reporting systems to ensure greater transparency and accountability to shareholders, regulators, and other stakeholders.
• Operational Efficiency: The management team is also focused on streamlining operations to address legacy accounting issues and improve overall financial efficiency, paving the way for a smoother audit process and stronger future growth.
• Near-Term Compliance: Endexx is also committed to removing the 'yield' sign from its OTC Markets profile in the near term, signaling a return to fully compliant status.
“Doug’s financial acumen, combined with the collective experience of our new management team, positions Endexx to achieve its strategic financial goals,” said Brad Listermann, Interim CEO of Endexx Corporation. “With a strong team in place and experienced auditors like VMCPA, we are confident in the path forward for Endexx.”
The company remains committed to its goals of improving financial transparency, strengthening internal operations, and delivering long-term value to shareholders.
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About Endexx Corporation
Endexx Corporation, through its operating divisions CBD Unlimited, Inc. and HYLA, develops and distributes all-natural, plant-based topical products, as well as non-nicotine vape products, in the wellness and health market. HYLA is a wholly owned subsidiary of Endexx, offering a proprietary non-nicotine vape product, rapidly expanding its market share internationally through unique and all-natural botanical formulations. CBD Unlimited produces and distributes high-end CBD-based products derived from hemp, designed to address various health issues and promote wellness in humans and pets. Endexx has developed a wide distribution network that includes pharmacies, mass retailers, and e-commerce platforms.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including, without limitation, those regarding the company’s expectations, intentions, strategies, and beliefs concerning future performance. These forward-looking statements involve certain risks and uncertainties, including uncertainties regarding economic conditions, customer acceptance of products, regulatory actions, competition, and other factors, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Readers should not place undue reliance on forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Contact:
Endexx Corporation
480-595-6900
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