NORTH RANDALL, OH, Aug. 24, 2017 /PRNewswire/ - Global Poletrusion Group Corp (GPGC PinkSheets, formerly Novacab International, Inc) announces important agreement with one of the four most recognized accounting firms in the world, KPMG LLP. As part of its short term take-to-market strategy, this key milestone was set to allow GPGC to operate efficiently and set a solid foundation for the longer term plans.
GPGC has retained the services of KPMG LLP in order to properly assess and recommend the most effective financial structure. GPGC currently operates using handful of divisions and ventures, i.e. Poletrusion Canada, Poletrusion USA and Renewable Energy Services (RES, a joint venture with America Technology Group), while its cross-border operations extend to several countries through North, Central and South America. Furthermore, important agreements are being drafted for other joint-venture projects in eastern Africa and Asia. The complexity and rigidity of the various fiscal policies have emphasized the need for experts in this domain, in order for GPGC to ensure its operational effectiveness throughout the world. As such, the group has retained KPMG's tax advisory services to analyse the entire spectrum of GPGC's operations, identify improvement opportunities and recommend the most efficient way forward. Another important outcome for this service stream is to determine the reporting requirements and publication schedule for the GPGC quarterly financial statements*.
GPGC also retained KPMG's infrastructure advisory services. The previously announced Power Purchase Agreements (PPA) require extensive financial planning, while the numerous engineering and financial parameters substantially increase the level of complexity and risk. As part of GPGC's commitment to shareholders, impacted communities and the rest of the world, retaining the services of KPMG's experts in infrastructure planning and financial modeling will provide the most accurate and effective forecasts for all major projects. These experts will design and build the required financial models and assist GPGC in assessing and reducing cash flow risks under each of the four major PPAs in Mexico and Peru.
This news release may contain « forward-looking statements, » as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
* Initial financial statements for the Global Poletrusion Group Corp are yet to be published. The reporting and publication strategy will be communicated as soon as possible in a subsequent press release.
SOURCE Global Pole Trusion Group Corp