HPIL Holding (OTCMKTS:HPIL) has announced that it will finish its current audit in 4-6 weeks. The company reached this decision after checking to see that regulators won’t remove enable youm the Pinks.
Trading Data
On Wednesday, HPIL stock slumped 19% to $0.0015 with 513.35 million shares, compared to its average volume of 133.02 million shares. The stock has moved within a range of $0.0012 – 0.0018 after opening trade at $0.0018.
Updates Shareholders on Company Reporting Status.
Accordingto the company’s CEO, Stephen Brown, there have been many reviews, and the company has now received some documents. As a result, the company has stated that it will require the services of its top auditors (Mazars) and Accountants (SRCO). These professionals will enable the company to meet SEC and OTC compliance standards. In addition, they will allow HPIL Holding to bring the company to the forefront and grow tremendously.
Past filings have been tricky for HPIL. For this reason, the company has discussions with the OTC and consultedAccountants and Auditors before coming to its decision. HPIL Holding hopes that this will provide its shareholders encouragement that the company will become an SEC reporting company.
HPIL is a holding company that invests in public and private companies in varying sectors. Furthermore, the company does not limit its investments to a specific industry or geographic area.
Key Quote
“I finally after the many reviews and not having documents from the past and the ones I have since received, the company has made a conscious decision that it will need top professionals like our Accountants (SRCO) and Auditors (Mazars) to complete them and bring them to both OTC and SEC compliance standards. This will also allow us to concentrate on our rapidly growing business and to bring it to the forefront,” said Stephen Brown CEO.
Technical Data
HPIL stock is trading below the 20-Day and 50-Day Moving averages of $0.0020 and $0.0027 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0035. The stock is down 46% in the past month.
