Grant Thornton is an audit, tax, and advisory service that is part of the seventh-largest accounting network in the world. The firm’s task includes auditing the gold stock every quarter and verifying that it matches the total number of NNN tokens in circulation.
The Q3 2019 gold audit report was performed in accordance with the International Standard on Related Services 4400, and verified the following:
The auditors used the NewEconoLabs (NEL) block explorer to verify that the number of NNN tokens minted on the NEO blockchain was equal to the amount of gold in storage. Novem mints 100 NNN tokens for each gram of gold stored in its facility.
Novem intends to store more gold in the facility and issue additional NNN tokens, but is waiting on prospectus approval from the Liechtenstein Financial Market Authority (FMA). In August 2019, the team anticipated the approval for the prospectus could take an additional four to six weeks.
The Q3 2019 gold audit report can be found at the link below:https://novemgold.com/wp-content/uploads/2019/10/Novem-Gold-AG-Report-of-Factual-Findings-of-AUP-Q3_2019_signed.pdf