Endexx Corporation (OTC:EDXC) Stock Surges 9%: Here is Why

As another trading week begins, it is quite likely that investors are going to be looking into stocks that had been in focus this past Friday, and one of the stocks that may come into focus is Endexx Corporation (OTC:EDXC). The company is a pioneering player in the fast-growing plant-based wellness space, and last Friday it announced a significant new update to its corporate governance structure.

In the news release, the company announced that, after the conclusion of a thorough review and with its long-term strategic aims in view, it had decided to engage a new independent auditor in the form of Victor Mokuolu, CPA PLLC. The company noted that the appointment went into effect in the fiscal year that ended on September 30, 2023. Endexx noted that the change had also been mentioned in the most recent Form 8 K/A that it had submitted to the United States Securities and Exchange Commission. On February 9, 2024, the Board of Directors of the company ratified the decision to part ways with Turner, Stone & Company LLP, the previous auditors.

In the news release, the company noted that the parting of ways with Turner, Stone & Company had been brought about by a range of challenges. Endexx stated that there were a number of disagreements and delays that were not in the best interests of its business. Although the company tried to resolve the matter, it became clear to the management that a change was needed in order to maintain its standards of accuracy, accountability, and transparency in its financial reporting.

Endexx stated that the new appointment was a major new milestone in its journey as a company. The transition to a new auditor was one of the many steps that it had taken in order to boost its corporate governance structure.