CB Scientific Files Application to Uplist to the OTCQB Venture Market

Rhea-AI Summary

CB Scientific (OTC PINK:CBSC) announced its application for uplisting to the OTCQB Venture Market. This move is aimed at enhancing trading efficiency and transparency. While the submission does not guarantee acceptance, the company has completed necessary steps, including a PCAOB audit and appointing independent directors. CEO Charles Martin emphasized that uplisting would position CBSC better for future goals, including a potential shift to Nasdaq. The company anticipates that uplisting will lead to improved compliance, reporting standards, and analyst coverage.

Positive

• Application submitted for uplisting to OTCQB, enhancing trading efficiency.
• Completion of PCAOB audit and appointment of independent directors fulfills key requirements.
• Management sees uplist as a critical step in executing the business plan.

Negative

• Uplisting application does not guarantee acceptance by OTC MARKETS.

Upgraded listing would provide increased transparency and enhanced trading efficiency

ESCONDIDO, CA / ACCESSWIRE / November 16, 2021 / CB Scientific. Inc. (OTC PINK:CBSC) ("CBSC" or the "Company") is pleased to announce that it has submitted its application to uplist to the OTCQB® Venture Market.

The application itself is not a guarantee of acceptance by OTC MARKETS to go from the Company's current OTC PINK status to uplisting onto the OTCQB®. However, CB Scientific previously engaged MaloneBailey LLP to conduct a Public Company Accounting Oversight Board (PCAOB) audit and has appointed sufficient independent directors, both key requirements to be considered for uplisting.

"If accepted, uplisting to the OTCQB® would be a critically important step for the Company as we continue to execute our business plan," said Charles Martin, Chief Executive Officer of CB Scientific. "Additionally, achieving such an auspicious milestone will certainly better position us to meet required listing standards as we work towards achieving one of our longer-term objectives of becoming a Nasdaq Capital Markets-listed company," he added.

The Company believes that an uplist to the OTCQB® would provide enhanced investor benefits, including more comprehensive compliance requirements, higher reporting standards, and greater access to analyst coverage.

As additional new developments occur, CB Scientific plans to make timely announcements through press releases and regulatory filings to keep its shareholders, industry participants, and the public markets informed.

About CB Scientific, Inc.
CB Scientific (https://cbscientificinc.com/), through its domestic and international subsidiaries, provides innovative products and services in the ambulatory non-invasive cardiac monitoring space. Our FDA and CE cleared EKG devices, interactive cloud-based acquisition software, and smartphone apps for both iOS and Android platforms provide improved compliance for patients at risk of abnormal heart rhythms, as well as more accurate information for physicians.

Company Contact Information:
Telephone: (888) 225-0870
Email: General Inquiries: info@cbscientificinc.com
Investor Inquiries: Robert Hesse - dorchco.bh@gmail.com
Follow CBSC: Twitter, Facebook, Instagram, LinkedIn, YouTube, and Newsletter

This information disclosure may contain forward-looking statements covered within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions, and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions.

SOURCE: CB Scientific, Inc.

View source version on accesswire.com:
https://www.accesswire.com/673054/CB-ScientificFiles-Application-to-Uplist-to-the-OTCQB-Venture-Market

FAQ

What is the significance of CBSC's application to uplist to the OTCQB?

The uplisting aims to enhance trading efficiency and transparency for CBSC.

What steps has CBSC taken for the uplisting application?

CBSC has completed a PCAOB audit and appointed independent directors as required.

Does submitting the uplisting application guarantee approval?

No, the application does not guarantee acceptance by OTC MARKETS.

How could uplisting benefit CB Scientific's investors?

Uplisting could lead to improved compliance, higher reporting standards, and greater analyst coverage.

What are CBSC's long-term objectives after uplisting to OTCQB?

CBSC aims to meet the standards for a future listing on the Nasdaq Capital Markets.