SANTA MONICA, CA, March 21, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics and wearable beauty and health technology innovator, today announced that it has signed an engagement letter to retain a PCAOB-registered independent public accounting firm to conduct an audit of its annual financial statements for 2017 and 2018, bringing OLVI a step closer to its stated goal of filing financial reports with the Securities and Exchange Commission. Audited annual financials will also meet a requirement of the OTCQB® Venture Market, in the event that OLVI decides to apply for an upgrade on the OTC Markets Group platform.
Oliveda International, Inc. expects to have its 2018 annual financial report and disclosure statement posted on the OTC Markets Group website within the next two weeks. In addition to the audit of the 2017 and 2018 annual financial statements, OLVI’s legal representatives are expected to begin preparing the company to file financials and information statements with the SEC.
“The next step in Oliveda’s International’s upgrade as a U.S. public company is to ensure the highest degree of transparency for our shareholders and all investors,” commented Chairman and CEO Thomas Lommel. “Qualifying as an SEC-reporting company, as well as for the OTCQB® Venture Market, will better position OLVI to initiate its expansion into new markets in North America and Asia. We very much look forward to our stockholders seeing the financial results for year-end 2018, which we expect to show continued revenue growth and very positive indicators for this year.”
OLVI’s quarterly and annual financial reports and disclosure statements can be found on the OTC Markets website at https://www.otcmarkets.com/stock/OLVI/disclosure.
Oliveda International Inc.
Founded in 2003 by German real estate investor Thomas Lommel, Oliveda International, Inc. is a leading international natural cosmetic company in the premium segment. The company has also developed a globally-unique wearable beauty and health technology. In addition to online sales and a global branch network of 650 retail stores, the company’s wholly owned Oliveda Deutschland GmbH subsidiary operates flagship stores, Olive Tree Pharmacy, in Berlin and Dusseldorf with plans to open new locations in Los Angeles, Taipei and Seoul. Overall, the company believes that it will be able to operate a total of 60 of its own flagship stores worldwide and increase the retail store network worldwide to 1,200 over the next five years. Through subsidiary operations, Oliveda International is the largest investor in eco-certified mountain olive trees as well as the largest conservationist in Arroyomolinos de Leó, Spain. Further information on Oliveda International can be found at http://www.oliveda.com and http://www.olivetreepeople.com.
Forward-Looking Statements
This press release may contain statements, estimates or projections that constitute "forward-looking statements" pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties, which may be found in the Company’s filings with OTC Markets Group Inc., that could cause actual results to differ materially from the Company's historical experience and present expectations or projections. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company expressly disclaims any obligation or intention to publicly update or revise any forward-looking statements unless otherwise required by law.