Vitro Biopharma Announces MaloneBailey L.L.P. as its new Auditors

GOLDEN, CO / ACCESSWIRE / July 20, 2020 / Vitro Diagnostics, Inc. (OTC PINK:VODG), dba Vitro Biopharma, announced that it has engaged MaloneBailey L.L.P. (Certified Public Accounting Firm www.malonebailey.com ) as its new auditors that will be auditing the company's consolidated balance sheets as of October 31, 2019 and October 31, 2020, and the related consolidated statements of income, changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements, all of which are to be included in the report (Form 10) proposed to be filed by the Company under the Securities Exchange Act of 1934 around December of 2020.

Founded in 1982, MaloneBailey is a full-service public accounting firm headquartered in Houston. MaloneBailey provides audit, tax and consulting services to public and private companies. MaloneBailey is in exclusive company as one of only twelve CPA firms in the world that requires an annual inspection by the PCAOB ("Public Company Accounting Oversight Board"); all other firms are inspected every three years. The Sarbanes-Oxley Act requires the PCAOB to conduct annual inspections for firms that regularly provide audit reports for more than 100 issuers.

The data in the table above is available on the PCAOB

John R. Evans C.F.O. said "This is a next step forward for the company as it expands its investor base and grows its business in the public marketplace. The company has provided consistent quarterly and year end financial results of operations over the last two plus years which the company has filed as 8-K's with the SEC and published on its web-site. Those disclosures were not audited as the company at that time did not have the financial resources to dedicate to those efforts. Now after the company has grown over the last two years the board of directors has approved the company to become fully reporting with a target going effective date of January 2021."

Dr. James Musick said "We are pleased to have John lead this effort forward as he has broad experience in public companies and the public capital markets that will benefit the company as it continues to grow its AlloRx Stem Cell™ business worldwide."

Forward-Looking Statements

Statements herein regarding financial performance have not yet been reported to the SEC nor reviewed by the Company's auditors. Certain statements contained herein and subsequent statements made by and on behalf of the Company, whether oral or written may contain "forward-looking statements". Such forward looking statements are identified by words such as "intends," "anticipates," "believes," "expects" and "hopes" and include, without limitation, statements regarding the Company's plan of business operations, product research and development activities, potential contractual arrangements, receipt of working capital, anticipated revenues and related expenditures. Factors that could cause actual results to differ materially include, among others, acceptability of the Company's products in the market place, general economic conditions, receipt of additional working capital, the overall state of the biotechnology industry and other factors set forth in the Company's filings with the Securities and Exchange Commission. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:

Dr. James Music
Chief Executive Officer
Vitro BioPharma
(303) 999-2130 Ext. 1
E-mail: [email protected]
www.vitrobiopharma.com

SOURCE: Vitro Diagnostics, Inc.