LAS VEGAS, NV, April 18, 2018 (GLOBE NEWSWIRE) -- Momentous Entertainment Group, Inc. (“Momentous”) (OTCBB:MMEG), announced that it will be unable to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 (the "Form 10-K") because the Company's financial statements had not yet been completed due to the untimely departure of its newly appointed Chief Accounting Officer, Ronald Frandsen.
The Company had appointed Ronald K Frandsen as its Chief Accounting Officer on January 23rd, 2018 with the intent that Mr. Frandsen would begin working on the Company’s 10K filing as well as begin and complete the consolidation, two year audit and integration of its newly acquired wholly owned subsidiary, Skin Scientific LLC, into Momentous’ accounting system. On March 22, 2018, management was notified by email of the immediate resignation of Mr. Frandsen due to an unforseen personal family emergency.
With the departure of Mr. Frandsen, Momentous had no alternative but to secure another party to complete the filings. On March 29, 2018, Momentous CEO Kurt Neubauer executed an agreement with an outside accounting firm to prepare both the Year End 10K and upcoming First Quarter 10Q for filing as soon as reasonably possible after the completion of the required audits and reviews by ThayerOneal Company LLC, Momentous’ SEC Auditing firm.
Momentous CEO Kurt Neubauer stated, “Ron Frandsen’s departure has left Momentous with no choice but to file its 2017 Year End 10K late. We have not received any notice from the Securities and Exchange Commission ("SEC"), but realize that the Company will not be in SEC compliance until our reports have been properly prepared and filed. The Company should be able to regain compliance by filing the Form 10-K with the SEC.” Mr. Neubauer also stated, “This is Momentous’ first occurrence of a missed filing date and the Company is working diligently to file the Form 10-K as soon as possible.”
About Momentous Entertainment Group (MMEG)
Momentous Entertainment Group, Inc. (MMEG) is a social media gaming, ecommerce and digital media company focused on providing unique and entertaining experiences for its subscribers and members on a global scale.
The Company’s strategic expansion plans are balanced between accelerating growth of its existing media and gaming properties, to the acquisition of profitable and sustainable businesses that are highly complementary to MMEG’s operations.
Please note the Company may use social media to communicate with the public. This communication may include information that could be deemed material information. As a result, the Company encourages interested parties to review the information that it posts on the following social media channels: Facebook, Twitter and LinkedIn.
To learn more, visit Momentous Entertainment Group’s website at www.momentousentertainment.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of Momentous Entertainment Group Inc’s (MMEG) future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of MMEG to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents MMEG files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on MMEG’s future results. The forward-looking statements included in this press release are made only as of the date hereof. MMEG cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, MMEG undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by MMEG.