Identa Corp (IDTA)

[lukechen817]

Just got this from OTC markets. looks like the CPA they use is not properly registered so they wont be getting uplisted anytime soon (plus the CPA can't add).

Thanks for the question. The OTC Pink Marketplace, where this company trades, does not require audited financials. Further, before “audited” financials qualify for the highest tier of that marketplace, we check to see that the firm that provided the audit letter is PCAOB registered. The firm in question, Hastar & Agam, C.P.A, does not appear to be PCOAB registered and in the company’s profile (on the screenshot below) we display the fact that the company’s financial are unaudited. We do review the financials to see that the company has posted the required financial statements. It is up to the company and the individuals who prepared the financials, however, to ensure that the line items are accurate and that the numbers add up. I might recommend contacting the company regarding the discrepancies you outlined. In the audit letter, the auditor claims that, “we conducted our audits in accordance with generally accepted auditing standards in Israel, including those prescribed by the Auditors' Regulations (Auditor's Mode of Performance)-1973.