Financial Results and Letter to Shareholders
24 October 2017 - 1:40PM
Access Wire
HOUSTON, TX / ACCESSWIRE / October 23, 2017 / Quantum
Medical Transport, Inc. (DRWN: OTC PINK)
To the shareholders of Quantum Medical Transport,
Inc.:
Management decided to release financial results for the
3rd Quarter unaudited period ending September 30, 2017.
Our financial results were $978,049 with assets $1,279,747 and
total liabilities of $1,494,656. Our full financial report can be
viewed and downloaded on our website investors tab. As our
shareholders are aware we hired MaloneBailey, LLP as independent
auditors to perform our financial auditor. After more than nine
months since our second engagement with the audit firm, we have not
received the audit opinion we had hoped to receive from our
auditors. We hired a third party CPA to work with our auditors to
complete the process of the audit. We apologize to our shareholders
for not managing the process appropriately. We have relied upon
guidance from our audit manager promising to have final audit
numbers ready for management to release and missing the target
dates each time. We paid our auditors $8,000 and our CPA $2,500 to
get the audit complete and at the eleventh hour after completing
the audit numbers for just the first quarter ending March 31, 2017,
the auditors requested an additional $11,000 which we will not pay,
because our engagement called for $6,000-$8,000 audit fee. We have
decided to terminate the audit process and will seek alternative
PINK status with OTC Markets and remove the STOP sign. We will not
file an S-1 and will not seek fully reporting registration status
at this time. Our financial reports are presented under United
States GAAP standards. The company will instead focus on increasing
market share in its marketplace through market awareness and
increasing revenue streams organically.
About Quantum Medical Transport/United
Ambulance
QUANTUM MEDICAL TRANSPORT, INC. /UNITED AMBULANCE, LLC is an
emergency and non-emergency medical services transportation company
that operates in the State of Texas. The Company provides basic and
advanced life support ground transport in an emergency and
non-emergency setting, 24 hours a day, and seven days a week. The
Company makes both local and regional out-of-town services
available on a daily dispatch basis.
Management remains focused on providing prompt, high-quality
patient care at the Advanced and Basic Life Support levels.
Employees will work diligently to achieve goals while maintaining
the highest standards of care.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements that
involve a number of risks and uncertainties. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "believes," "expects," "may,"
"will," "intends, "plans," "should," "seeks," "pro forma,"
"anticipates," "estimates," "continues," or other variations
thereof (including their use in the negative), or by discussions of
strategies, plans or intentions. A number of factors could cause
results to differ materially from those anticipated by such
forward-looking statements, including those discussed under "Risk
Factors" and "Our Business." Forward-looking statements are subject
to known and unknown risks and uncertainties and are based on
potentially inaccurate assumptions that could cause actual results
to differ materially from those expected or implied by the
forward-looking statements. Our actual results could differ
materially from those anticipated in the forward-looking statements
for many reasons.
Investor Relations:
Ricky Bernard
832-436-1831 x100
info@quantummedicaltransport.com
www.quantummedicaltransport.com
SOURCE: Quantum Medical Transport, Inc.
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