BioStem Technologies Announces Extension to File 2024 Annual Report with OTC
BioStem Technologies (OTC: BSEM) has requested an extension for filing its 2024 annual report with the OTC. The delay is attributed to an ongoing SEC review process of the company's Form 10 registration statement, which could affect financial statements and disclosures.
The company expects to file the annual report by April 15, 2025, the extension period's deadline. Management indicates this review process is a necessary step in their planned Nasdaq uplisting. A webcast covering Q4 and year-end 2024 results will be announced following the completion of the SEC review.
BioStem Technologies (OTC: BSEM) ha richiesto un'estensione per la presentazione del suo rapporto annuale 2024 all'OTC. Il ritardo è attribuito a un processo di revisione della SEC in corso riguardante la dichiarazione di registrazione del modulo 10 dell'azienda, che potrebbe influenzare i bilanci e le comunicazioni.
L'azienda prevede di presentare il rapporto annuale entro il 15 aprile 2025, la scadenza del periodo di estensione. La direzione indica che questo processo di revisione è un passo necessario per il loro previsto passaggio al Nasdaq. Una webcast che coprirà i risultati del quarto trimestre e dell'anno 2024 sarà annunciata dopo il completamento della revisione della SEC.
BioStem Technologies (OTC: BSEM) ha solicitado una prórroga para presentar su informe anual 2024 ante el OTC. El retraso se atribuye a un proceso de revisión de la SEC en curso sobre la declaración de registro del formulario 10 de la empresa, lo que podría afectar los estados financieros y las divulgaciones.
La empresa espera presentar el informe anual antes del 15 de abril de 2025, que es la fecha límite del período de prórroga. La dirección indica que este proceso de revisión es un paso necesario para su planificado ascenso al Nasdaq. Se anunciará una transmisión en línea que cubrirá los resultados del cuarto trimestre y del año 2024 tras la finalización de la revisión de la SEC.
BioStem Technologies (OTC: BSEM)은 OTC에 2024년 연례 보고서를 제출하기 위한 연장을 요청했습니다. 지연은 회사의 Form 10 등록 성명서에 대한 SEC 검토 과정이 진행 중인 것과 관련이 있으며, 이는 재무 제표 및 공시에 영향을 미칠 수 있습니다.
회사는 2025년 4월 15일까지 연례 보고서를 제출할 것으로 예상하고 있으며, 이는 연장 기간의 마감일입니다. 경영진은 이 검토 과정이 계획된 나스닥 상장을 위한 필수 단계라고 밝혔습니다. SEC 검토 완료 후 2024년 4분기 및 연말 결과를 다룬 웹캐스트가 발표될 예정입니다.
BioStem Technologies (OTC: BSEM) a demandé une prolongation pour déposer son rapport annuel 2024 auprès de l'OTC. Ce retard est attribué à un processus de révision de la SEC en cours concernant la déclaration d'enregistrement du formulaire 10 de l'entreprise, ce qui pourrait affecter les états financiers et les divulgations.
L'entreprise s'attend à déposer le rapport annuel d'ici le 15 avril 2025, date limite de la période de prolongation. La direction indique que ce processus de révision est une étape nécessaire pour leur cotation au Nasdaq prévue. Un webinaire couvrant les résultats du quatrième trimestre et de l'année 2024 sera annoncé après l'achèvement de la révision de la SEC.
BioStem Technologies (OTC: BSEM) hat eine Fristverlängerung für die Einreichung ihres Jahresberichts 2024 beim OTC beantragt. Die Verzögerung wird einem laufenden Überprüfungsprozess der SEC zugeschrieben, der die Registrierungsunterlagen des Unternehmens (Formular 10) betrifft und Auswirkungen auf die Finanzberichte und Offenlegungen haben könnte.
Das Unternehmen erwartet, den Jahresbericht bis zum 15. April 2025, dem Fristende der Verlängerung, einzureichen. Das Management gibt an, dass dieser Überprüfungsprozess ein notwendiger Schritt für ihre geplante Nasdaq-Notierung ist. Eine Webcast, die die Ergebnisse des 4. Quartals und des Jahres 2024 abdecken wird, wird nach Abschluss der SEC-Überprüfung angekündigt.
- Progress towards Nasdaq uplisting through Form 10 registration process
- Delay in filing 2024 annual report indicates potential regulatory compliance challenges
- Uncertainty around financial statements and disclosures due to ongoing SEC review
POMPANO BEACH, Fla., April 01, 2025 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC: BSEM), a leading MedTech company specializing in the development, manufacturing, and commercialization of placental-derived products for advanced wound care, announces it has filed for an extension to submit its annual report for the year ended December 31, 2024 to the OTC
The company is currently undergoing a mandatory Securities Exchange Commission (SEC) review process related to its Form 10 registration statement, which may impact the financial statements or disclosures in the annual report. Management anticipates filing the annual report by April 15, which is the expiration of the extension period.
Jason Matuszewski, Chief Executive Officer of BioStem, stated:
"We appreciate our shareholders' patience as we navigate the final comment review process for our Form 10 with the SEC, a necessary step to finalize our financial reporting and complete our uplisting to Nasdaq. Upon completion of this process, we will announce the date of our webcast covering fourth quarter and year-end 2024 results."
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About BioStem Technologies, Inc. (OTC: BSEM):
BioStem Technologies is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain® processing method. BioREtain® has been developed by applying the latest research in advanced wound care, focused on maintaining growth factors and preserving tissue structure. BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (“AATB”). These systems and procedures are established per current Good Tissue Practices (“cGTP”) and current Good Manufacturing Processes (“cGMP”). Our portfolio of quality brands includes AmnioWrap2 ™, VENDAJE®, VENDAJE AC®, and VENDAJE OPTIC®. Each BioStem Technologies placental allograft is processed at the Company’s FDA registered and AATB accredited site in Pompano Beach, Florida.
For more information visit biostemtechnologies.com and follow us on X and LinkedIn.
Forward-Looking Statements:
Except for statements of historical fact, this release also contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including with respect to the anticipated filing of the annual report and conclusion of the SEC review process. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: (1) the impact of any changes to the reimbursement levels for the Company’s products; (2) the Company faces significant and continuing competition, which could adversely affect its business, results of operations and financial condition; (3) rapid technological change could cause the Company’s products to become obsolete and if the Company does not enhance its product offerings through its research and development efforts, it may be unable to effectively compete;(4) to be commercially successful, the Company must convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; (5) the Company’s ability to raise funds to expand its business; (6) the Company has incurred significant losses since inception and may incur losses in the future; (7) changes in applicable laws or regulations; (8) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (9) the Company’s ability to maintain production of its products in sufficient quantities to meet demand; and (10) the COVID-19 pandemic and its impact, if any, on the Company’s fiscal condition and results of operations; You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
BioStem Technologies, Inc.
Phone: 954-380-8342
Website: http://www.biostemtechnologies.com
E-Mail: info@biostemtech.com
Twitter: @BSEM_Tech
Facebook: BioStemTechnologies
PCG Advisory
Adam Holdsworth
Phone: 917-497-9287
Email: adam@pcgadvisory.com
FAQ
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