Torque Lifestyle Brands Announces Uplisting Strategy, Appointment of Michael T. Studer CPA P.C. as Independent Auditor

Rhea-AI Summary

Torque Lifestyle Brands Inc. (OTCQB:TQLB) announced its uplisting strategy to the OTCQB Venture Market following the appointment of Michael T. Studer CPA P.C. as its independent auditor. This transition aims to leverage the firm’s expertise in refining Torque's M&A and capital markets strategy. CEO David Lovatt expressed optimism about the collaboration, emphasizing its importance for shareholders and the upcoming audit essential for filing Form-10. Torque operates in the $150B+ sports nutrition market with a growth-by-acquisition model and a portfolio of in-house brands.

Positive

• Appointment of Michael T. Studer CPA P.C. as independent auditor could enhance audit quality and financial reporting.
• Initiation of uplisting strategy to OTCQB may attract more investors and improve visibility in financial markets.

Negative

• The change in auditor could raise questions about continuity and experience in handling the company's financial matters.

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WHEAT RIDGE, CO / ACCESSWIRE / August 3, 2021 / Torque Lifestyle Brands Inc. (OTCQB:TQLB) ("Torque" or the "Company"), an emerging leader in the $150B+ sports nutrition and supplements market, today announced the initiation of its OTCQB uplisting strategy concurrent with the appointment of Michael T. Studer CPA P.C. as the Company's independent auditor. The change of the Company's independent registered public accounting firm was approved by the Audit Committee of its Board of Directors.

"Given Torque's robust M&A and capital markets strategy, the Company has decided it was an appropriate time to transition to Michael T. Studer CPA P.C. to leverage its industry expertise, resources, and professionalism," said David Lovatt, Chief Executive Officer of Torque Lifestyle Brands.

"We will work closely with Michael T. Studer CPA P.C. in the months ahead to refine our acquisition strategy and complete our audit, a vital step in anticipation of filing out Form-10 and planned uplisting to the OTCQB Venture Market. We look forward to working with our new auditors and creating long-term value for our shareholders," concluded Lovatt.

About Torque Lifestyle Brands Inc.

Torque Lifestyle Brands Inc. (OTC: TQLB) is an emerging leader in the $150B+ sports nutrition and supplements market. Leveraging a growth-by-acquisition model and a growing suite of influencers as brand ambassadors, the Company offers a wide array of active lifestyle products through its e-commerce presence and tier-1 U.S. retailer relationships. Torque's growing family of in-house brands include American Metabolix, Storm Lifestyles and Core Natural Sciences. For more information, please visit the Company's website at www.torquelb.com.

Cautionary Statement Regarding Forward-Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding departure of the company's CEO. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target," "intend" and "expect" and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

Investor Relations Contact:
Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
TQLB@mzgroup.us
www.mzgroup.us

SOURCE: Torque Lifestyle Brands, Inc.

View source version on accesswire.com:
https://www.accesswire.com/658033/Torque-Lifestyle-Brands-Announces-Uplisting-Strategy-Appointment-of-Michael-T-Studer-CPA-PC-as-Independent-Auditor

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Torque Lifestyle Brands' uplisting strategy?

Torque Lifestyle Brands aims to uplist to the OTCQB Venture Market, which could enhance its visibility and access to capital.

Who is Michael T. Studer CPA P.C.?

Michael T. Studer CPA P.C. is the newly appointed independent auditor for Torque Lifestyle Brands, replacing the previous firm.

How will the auditor change impact Torque Lifestyle Brands?

The change may improve audit quality and financial reporting, but could also raise concerns about continuity and experience.

What market does Torque Lifestyle Brands operate in?

Torque operates in the $150B+ sports nutrition and supplements market, focusing on a growth-by-acquisition model.