$BCCI Baristas Files Audited Financials - Moves Forward With Uplisting to Senior Exchange Baristas Coffee Company Inc. (PL) (USOTC:BCCI) Intraday Stock Chart Today : Thursday 5 June 2014
Baristas Coffee Company, Inc. (OTCPK:BCCI), announced that it has completed its audited financials which meet PCAOB standards and has filed its first set of audited financials. The filing of audited quarterly financials for the period ending March 31, 2014 can be viewed at www.otcmarkets.com under Filings and Disclosures. Baristas will be filing amended audited 10K and 10Q financials for years 2012, 2013 in the next week. Subsequently the Company will be filing its Registration Statement and will become fully reporting and will up list accordingly to a senior exchange. CEO Barry Henthorn stated: "Becoming fully audited was among the most significant steps towards moving to a senior exchange and becoming a fully reporting public company. All legacy adjustments are now reflected according to PCAOB auditing standards and only revenues that were completely verifiable through the audit were recognized. In addition all stock based compensation has been reflected appropriately of which the Company does not foresee any upcoming substantial issuances. The processes and accounting review policies are now in place to allow all future revenues to flow to the books of the company and to produce and review timely audited financial statements."
About The PCAOB: The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, accurate and independent audit reports. The PCAOB also oversees the audits of broker-dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection.
About Baristas Coffee Company (BCCI): Headquartered in the Seattle, Washington area, Baristas Coffee Company, Inc. was formed to create a national brand of drive-thru espresso stands. BCCI is accomplishing this by acquiring established businesses that fit its model, opening new locations, and by franchising. Baristas has separated itself from the competition with its "theme" of joining attractive female baristas in entertaining costumes preparing the finest beverages available on the market. Baristas Coffee Company, Inc. is currently traded publically under the symbol "BCCI:OTCPK". Baristas has made formal application to the NASDAQ Capital Markets, and has been reserved the symbol "BAPI" for trading once it has completed the process. Baristas can currently be found throughout greater Seattle as well as in Florida, and Montana. Baristas is also opening a full service Bar and grill in Knoxville TN. Your state, Coming Soon!
For more information on this fascinating concept please visit us at www.baristas.tv
CONTACT: For Investor Relations Contact: Barry Henthorn barry@baristas.tv (206)579-0222
All legacy adjustments are now reflected according to PCAOB auditing standards
Note he does not state the financials were prepared in accordance with GAAP, rather PCAOB audit standards, whatever those are....Hard to imagine that would be acceptable to NASDAQ or any other senior exchange. I think they would require GAAP accounting.
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