The Automotive Resource Network Holdings, Inc. (ARNH) Announces It Has Retained MaloneBailey To File The Required Audited Financial Statements
NEW YORK, April 10, 2013 /PRNewswire/ -- (Pinksheets: ARNH) The Automotive Resource Network Holdings Inc.'s CEO, Kathleen Roberton, is pleased to announce that MaloneBailey, LLP has been engaged to audit our Financial Statements on behalf of ARNH. MaloneBailey will audit the previous two years so that we can proceed with filing a registration statement with the SEC and become a reporting issuer.
CEO Kathleen Roberton states, "We have been current with OTC MARKETS, filing unaudited financial statements for the last 6 months, but in order to become an SEC reporting company, we must have audited financial statements that have been conducted by a recognized PCAOB auditing firm. We have also added value to the company with some of our acquisitions and this requires an evaluation report that meets SEC standards so the assets and the income can be audited by MaloneBailey. In keeping with are Three Step Plan, we have removed a considerable amount of affiliate and non-affiliated debt from our balance sheet; therefore it is incumbent upon us to show the audited improvements we have made to the company."
Kathleen Roberton, further states, "We are committed to attaining more assets and completing additional forward acquisitions using our convertible preferred securities as currency. Many of the assets and businesses that we are looking to purchase, and audit, will be revenue generating. This revenue will flow through the preferred securities thereby creating dividends for the Preferred Shareholders. This will discourage the convertibility of the preferred securities after the maturity date. I am pleased to work with MaloneBailey as they have a great deal of experience in the evaluation of the preferred securities. In addition, they have also introduced us to a SEC standard evaluator, which is very necessary when we start to audit our growing assets and wholly-owned subsidiary partners."
About The Automotive Resource Network Holdings Inc.:
The Automotive Resource Network Holdings, Inc. is newly emerging as a holding company targeting the acquisition of undervalued, niche companies with high growth potential, income-producing commercial real estate properties and high return investments all designed to pay a dividend to our shareholders.
ARNH cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
SOURCE The Automotive Resource Network Holdings, Inc.