MYFREIGHTWORLD Announces Audit Team Report for Full Audit/Reporting Status
OVERLAND PARK, KS--(Marketwire - 03/17/10) - MYFREIGHTWORLD.com (www.myfreightworld.com
) (Pinksheets:ANYT - News) announced today that the Company's Audit Team led by Financial Executive David Churchman has finished the assigned pre-audit and established a plan for completing the final steps required for a full audit to be performed by an SEC and PCAOB approved accounting firm.
CEO Michael Head commented: "The Company is pleased to announce that we have contracted the services of Mr. David Churchman, the Managing Partner of Mercury IC, LLC, a CFO Services Company with financial oversight expertise. Mr. Churchman will lead our Audit Team that has been quite active preparing for this very significant event. With the help and cooperation of Independent CPA's and Consultants, our Audit Team has presented their report and recommendations to MFW's Executive Management. The team has done a very thorough review of our transactions, press releases, projections and financials. The report and its recommendations will serve as our guide for completing the process of becoming a fully audited and reporting company."
Mr. Churchman added, "Mr. Head has instructed our team to release the report recommendations to our investors and ensure that the company completes all tasks in an expeditious manner. With this project having "Priority One" status, we feel confident that all the preparations for the full audit will help the company reduce cost and remove any and all unknown obstacles that could slow down the process. The pre-audit has focused heavily on all transactions that took place prior to MFW gaining control of Anything Brands. Our team is devoting a substantial amount of time to that endeavor and believes that is in the best interest of the Company and its Shareholders."
The following Audit Team recommendations have been made and approved by the MFW Board of Directors and Executive Management:
A. Company should begin Full Compliance Audit immediately following the
spin-off and removal of all things related to Anything Brands. This will
leave MFW in control and the remaining sole entity of the public company
with symbol ANYT
B. Company should complete the announced filing for new symbol of MFWT upon
FINRA final approval
C. Company should change from Calendar Year to Fiscal Year to allow for
immediate reporting status upon completion of the full audit
D. Company can help reduce audit rates and fees by keeping Audit Team and
pre-audit procedures active for all future audits
E. Company should complete the pre-audit task of verifying all past stock
transactions performed by Anything Brands Online prior to MFW taking
control Completion of this task, although time consuming, will guarantee
that Audit is completed without delays
Mr. Head added: "We have selected Scott M. Herpich of the Polsinelli Shughart Law Firm as our SEC Attorney. Mr. Herpich is part of one of the most respected law firms in the nation and has been very instrumental in properly documenting the transactions involved with the acquisition and restructuring. His work, along with that of our Audit Team, is critical to establishing credibility with an expanding shareholder base and creating value for all our existing and future constituents."