CLEVELAND, April 26, 2018 (GLOBE NEWSWIRE) — Innovest Global Inc. (OTC PINK: IVST) expects its 2016 and 2017 audit to PCAOB standard, to be complete by the end of May. Immediately thereafter, the Board of Directors has resolved to apply to the OTCQB Market Exchange as an upgraded trading platform from the OTC Pink.
Innovest announced last month that it engaged NMS Inc. to audit its 2016 and 2017 financial results to PCAOB standard. That process has begun, and is expected to conclude by the end of May. “NMS is an extremely professional and proactive group of CPAs, and they have been an ideal partner as we have begun the audit process,” said Innovest CFO, Mike Yukich.
Since late 2017, Innovest has discussed an uplist strategy which management has indicated could ultimately include NASDAQ, or NYSE. Navigating to these markets is an incremental journey for small growing companies and requires much diligence. All uplist exchanges involve higher levels of compliance, and business requirements. Innovest has decided the OTCQB is an ideal next step. Known as the “The Venture Market”, it consists of developing U.S. and international companies.
“Dan Martin (Innovest Chairman and CEO) has been fanatical about advancing Innovest shareholder interests,” said Mr. Yukich. “He is concerned with one thing: maximizing shareholder value. We make decisions with long -term focus, and have avoided short -term thinking. He and the board, and I, believe OTCQB is an ideal immediate goal to achieve our long term goals. Once we apply, we will be on their (OTC Markets) timeline so its difficult to predict if and when we may be successful. But, OTC has been an incredibly helpful partner over the past several months, and we are looking forward to the process.”
More about Chief Financial Officer, Mike Yukich:
Mr. Yukich served as Chief Financial Officer and Controller for Eaton’s Truck Component Operations in the 1990’s, which was a $1.5 billion enterprise with 8,500 employees in North and South America. Mr. Yukich was responsible for all the financial and information technology functions. He led the due diligence and integration team for the acquisition of a $200 million Brazilian transmission supplier that was totally integrated within one year of acquisition.
After Eaton, Mr. Yukich served as Senior Vice President and Chief Financial Officer for Guide Corporation, a $600 million Tier one automotive supplier for external lighting systems. At Guide, Mr. Yukich was a key management team member, that took a former General Motors division and created a stand- alone company. He oversaw a $20 million investment for IT conversion and improved quality programs. In cooperation with the equity owners, Mr. Yukich secured another $22 million for a new manufacturing facility in Mexico and an engineering and technical center for R&D, as well as ongoing engineering and other corporate functions.
Mr. Yukich holds a BA degree in business administration from the University of Mount Union and an MBA from Central Michigan University. He has been an active member and past officer and director of the Financial Executives Institute for the past twenty-two years. His community involvement includes serving as President of the Beta Iota House Corporation of Sigma Nu National fraternity, an affiliate of the University of Mount Union.
Mr. Yukich also served in the United States Navy on two warships (USS Shadwell LSD-15 and USS Inchon LPH-12).
Look for much more information to come soon. As noted consistently, the company will increasingly use Twitter, which can be accessed both on Twitter @innovestglobal and on the front page of our website www.innovestglobal.com, for important company updates. This includes information that may be material, so please follow us and visit our website regularly! For more information on Innovest contact info@innovestglobal.com, or call Innovest investor Relations Matt Rego at 216.815.1122.
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