GMPR management is making a high commitment to completing all required financial reports, not just to stay current but also to qualify for uplisting to NASDAQ exchange. This takes time, especially when partner companies are involved, but should be well worth the wait in the big picture.
From the GMPR July update:
Audits:
As of today, GMPR engaged the services of Rick Weiner to finalize the pre audits, finish the necessary financial statements for uplisting to NASDAQ and potentially become our fulltime CFO. GMPR has paid M&K CPAS, PLLC of Houston, TX, their required $25,000 fee to finalize and sign off on the audits when completed.
The delays in the pre audits were the result of two factors: Black Rock was suppose to supply GMPR with their financial statements by October 1st, 2021 we received the financials late January 2022; Second attributing factor for completion of the pre audits, after partial review of the Jose Madrid Salsa Financial statements the previously engaged pre auditor determined they needed to be reconstructed and their six digit proposed fee was more than the cost of an annual salary of a fulltime CFO. Solution, we have received the complete Black Rock financial statements and complimentarily paperwork and we have engaged Mr. Weiner to complete the necessary pre audits in a timely manor.
Black Rock Bar & Grill GMPR signed a letter of intent to purchase multiple Black Rock Bar & Grill locations and we are currently in review and finalizing non-toxic, non-diluting funding to close the Black Rock deal. We are doing our due diligence and expect to close on 3 Florida locations and Master Franchising rights for the states of Georgia & Pennsylvania this quarter. We had the funding in place to close the Black Rock deal in the 4th quarter 2021, delays in receiving the financial statements from Black Rock and a downturn in the market caused us to seek out other funding sources.
