Quality Industrial Corp (OTCMKTS:QIND) on August 24, 2022, announced that the firm dismissed Boyle CPA, LLC as an independent registered public accounting firm. The company also confirmed engaging Pipara & Co on August 19, 2022, as the independent registered public accounting firm. The engagement of the new accountant was approved by the Board of Directors.
Trading Data
On Wednesday, QIND stock slid 0.92% to $0.2418 with more than 105.47K shares, compared to its average volume of 540.79K shares. The stock moved within a range of $0.2325 – 0.2565 after opening trading at $0.2500.
Quality Industrial Corp. Outlines Its Progress Following the Filing of Second Quarter of 2022 Disclosure
In June 2022, the firm signed a Binding Letter of Intent for the acquisition of the United Arab Emirates headquartered company, manufacturing custom solutions for Energy, Oil, and Gas, Water Desalination, Wastewater, Offshore as well as Public Safety sectors. Pipara & Co LLP has multiple offices globally.
The presence in different regions will enable an efficient audit process for Quality Industrial Corp’s present subsidiary in the UAE.
Key Quote
Quality Industrial Corp.’s Chairman and ILUS CEO, Nicolas Link, commented: “I am pleased with the progress made in a very short period since and we are confident that we will achieve our 2022 revenue forecast. With such awesome deals in negotiation, we are hard at work to add the aligned businesses which will further accelerate our growth. I am also pleased with how quickly we managed to achieve our recent name and first choice ticker change. I anticipate further landmark deals in the back half of the year as QIND continues working closely with its parent company, ILUS International.”
Quality Industrial Corp. (OTCQB: QIND) announces engagement with new independent registered public accounting firm
Quality Industrial Corp on August 18, 2022, filed the quarter two results for the current year. Even though the firm did not file any revenues but it was productive with the firm laying foundations for future growth. The firm is projecting revenues of $20-25 million during the third quarter.
Quality Industrial Corp.’s Chairman and ILUS CEO, Nicolas Link expressed delight with the progress made in a short time. Link said that the company will achieve the 2022 revenue forecast. He added that the company is working hard on aligning business, which can accelerate the growth.
Technical Data
QIND stock is below the 20-Day and 50-Day Moving averages of $0.29 and $0.34 respectively. However, the stock is trading above the 200-Day moving average of $0.13. The company has a total market capitalization of $24.42 million. The stock is up 316% over the past three months.
