Vancouver, British Columbia–(Newsfile Corp. – June 22, 2021) – Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) (“Upco”) announces corporate update.
Upco International Inc, announces that it did not file its annual audited financial statements, management’s discussion and analysis and related certifications for the fiscal year ending December 31, 2020 (collectively, the “Financial Statements”) on time as required by securities law due to unforeseen administrative and audit delays.
The Company’s audit firm, MSLL, has not yet completed the required audited financial statements for 2020 by the mutually agreed upon deadline of May 31, 2021.
MSLL was appointed as the Company’s auditor in April 2020.The Company was informed in mid-May that MSLL would require additional time to complete the audit due to the integration of subsidiaries acquired by the Company. As a result of these delays, the Company filed for an extension with the BCSC and a Management Cease Trade Order was granted which provides the Company until July 2, 2021 to file the financial statements.
Upco’s management and Board would like to clarify that the entire international team is working to finish the Audit-review as fast as possible and the company is in good standing, healthy in both its operational and administrative areas.
Upco International further announces that the Board is considering moving the listing from CSE to Toronto Stock Exchange, as soon as possible.
Updates on the Business and strategies will be released after the presentation of the year-end Financial Statements and first Quarter.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to Skype and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to share account information securely with their clients.
Please visit www.upcointernational.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
+1 (646) 7661275
This press release contains forward-looking information or forward-looking statements (collectively “forward- looking information”) within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.
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