ICBU NEWS: ICBU Retains BF Borgers CPA Firm to Become a Fully Reporting SEC Company
PLACERVILLE, CA, Jan. 4, 2017 /PRNewswire/ - iMD Companies, Inc. (OTC: ICBU) Board of Directors are pleased to announce that the company has retained BF Borgers CPA PCAOB accredited accounting firm to complete its audited financials to become a fully reporting company with the SEC. The company has retained Borgers CPA firm because of the acquisition of KRSNA MINERALS.
KRSNA MINERALS is a producing mine in India with over 600 acres of mining claims, which are producing manganese and Iron ore metals. KRSNA MINERALS currently has contracts with the Chinese government to supply manganese and Iron ore to China. The recoverable asset values are in excess of 700 million dollars for the total claims owned by KRSNA MINERALS. The Current Claims mined produced revenues in excess of four million dollars in 2016 and claims being worked on are over 10 million dollars. KRSNA MINERALS plans to dramatically increase the number of claims being mined in 2017 to increase revenues exponentially for the company. KRSNA MINERALS is now a wholly owned subsidiary of ICBU and all financials of KRSNA MINERALS will be represented in ICBU financial statements.
The company has retained Borgers Auditors because of the assets and revenues that are in the company. The company feels that it is time to start the process to move towards being QB Fully Reporting and anticipates applying to be a Nasdaq Small Cap company. The company plans on filing an S1 registration statement with the SEC to register all the shares of the company once the audited financials are completed.
The mining claims are rich in iron ore and manganese and are located in northwestern Orissa. They contain metasediments of low to medium metamorphic grade classified as the Gangpur Group, which host manganese, limestone and Lead-Zinc deposits. In central and southern Orissa, the Proterozoics are represented by the Easternghats granulite belt comprising of khondalite, charnockite, migmatite, anorthosite and alkaline rocks accounting for the mineralisation of bauxite, manganese, graphite and gemstones. Orissa has a lion's share of the Country's mineral reserves.
