Endexx Corporation (OTC:EDXC) Stock Gains Momentum: What’s the Buzz?

The company, which is a major player in the distribution and development of innovative nutritional and wellness products, was in the news cycle last Friday. On February 16, Endexx Corporation (OTC:EDXC) came up with a key update with regards to a change in its financial and auditing reporting procedures. The company noted in the news release that the update to the processes was a demonstration of its commitment to not only operational best practices but also greater transparency to its shareholders.

The company noted that it had decided to part ways with its independent auditors, Turner Stone & Company LLP. The decision had been made after considerable discussions with key regulatory bodies like the Public Company Accounting Oversight Board (PCAOB), the Securities and Exchange Commission, and the OTC Market. The company, however, stated that the transitional move was not at all related to any compliance or regulatory issue with Endexx Corporation. The company also noted that the dialogues it had with the regulatory bodies further reinforced the understanding that the move was in the best interests of both the shareholders and Endexx.

It was noted that throughout the association with Turner Stone & Company, there had been a number of changes in managing partners and senior partners at the auditing firm. The sort of turnover that was observed had been the reason why it had been challenging for Endexx to maintain the reliability and consistency that it needed to have strong forward momentum.

The company recognized these issues, and hence, it started seeking out a new partner that would provide stability and be in alignment with the rapid growth strategy at Endexx. It was further noted that the company had started the interviewing process for hiring possible auditors. The company stated that it was committed to selecting a partner that would meet its high standards.