RENAVOTIO
ANNOUNCES CHANGE IN AUDITORS; MARCUM LLP APPOINTED AS NEW
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Tulsa,
OK -- October 27, 2021 -- InvestorsHub NewsWire -- Renavotio,
Inc. (OTCQB:
RIII) (the "Company"), an infrastructure investment company
focused on opportunities, including medical protective equipment,
5G, ISP, utility construction, utility management, IoT, water,
waste management technology, and related industries. The Company
announced today the appointment of Marcum LLP (the "Successor
Auditor") as its independent registered public accounting firm,
effective October 25, 2021, to hold this position until the next
annual meeting of the shareholders of the Company. The Successor
Auditor was appointed following the resignation of Yichien Yeh, CPA
("Yey" or the "Former Auditor") as the Company's independent
registered public accounting firm. Yey resigned as our independent
registered public accounting firm due to an Order by the Public
Company Accounting Oversight Board ("PCAOB") revoking the PCAOB
Registration of Yey, which resignation was not due to any
disagreements with Yey regarding any matter of accounting
principles or practices, financial statement disclosures, audit
scope, or audit procedure (the "Resignation").
All of 2020 will be re-audited along with 2021
and reported in the next 10K to account and prepare and
reconstituted beginning balance and income statements. Once
completed, the Company plans to file a new S-1 filing along
with the additional actions required for a possible up-listing in
the future. Preceding the date of the Former Auditor's
resignation, there are no reportable events between the Company and
the Former Auditor.
The resignation of the Former Auditor and the
appointment of the Successor Auditor have been approved by the
Company's Board of Directors.
"We are excited to have retained as our auditor
a global leader like Marcum who we began working with to audit our
acquisitions of Utility Management Corp that included Utility
Management Construction, LLC and Cross-Bo Construction, LLC. We are
extremely pleased to select Marcum as our independent registered
public accounting firm for Renavotio, Inc. with their extensive
experience in public audits.," elaborated Billy Robinson, CEO and
Chairman of the Company.
About Renavotio,
Inc.
Renavotio, Inc. (OTCQB:
RIII) focuses on three unique infrastructure opportunities,
including medical protective equipment, 5G, ISP, utility
construction, utility management, IoT, water, waste management
technology, and related industries.
The Company's wholly owned subsidiary, Renavotio
Infratech, Inc. ("RII"), includes business and acquisition
strategies concentrating on medical protective equipment and
infrastructure with utility construction and consulting/operational
agreements with small towns or county CO-OPS that operate their own
water and sewer systems, providing long-term savings, utilizing
smart-utility monitoring, and dedicated engineering and service
personnel. These platforms capture utility data from hand-held GPS
devices or in-place sensors, with planned use of drones to identify
waste contamination, leak detection, and topographic underground
utility installation planning. RII's wholly owned subsidiary,
Utility Management Corp, is a holding company focused on
infrastructure, 5G, utility construction, utility management, IoT,
water and waste management technology, and related industries.
Utility Management Corp's subsidiary, Utility Management and
Construction (UMCCO) is an engineering and smart utility management
company that provides a one-stop solution to rural communities to
reduce the consumption of electricity, data, natural gas, and water
utilities for commercial, industrial and municipal end users.
UMCCO's unique approach creates immediate bottom-line savings for
its clients, by providing engineering, planning, permitting and
installation through their second wholly owned subsidiary, Cross-Bo
Construction, which specializes in water, sewer, Telcom, and 5G
design and installation, establishing a long-term value proposition
while also achieving respective sustainability goals. www.umcco.com.
For
additional information on Renavotio, please visit: www.renavotio.com
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Forward-Looking
Statement
This news release includes certain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors may cause the
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include general business, economic, competitive,
regulatory, markets and other conditions, political and social
uncertainties. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. No information in this news release
should be construed as any indication whatsoever of the Company's
future stock price, revenues, results of operations, and whether l
the Partnership will be successful and fulfill its stated goals.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Investor Contacts:
Renavotio, Inc.
601 South Boulder Ave.
Suite 600 Tulsa, OK 74119
Email: brobinson@renavotio.com
Telephone: 1-888-928-1312