CB Scientific, Inc. Announces Intent to Convene a Special Meeting of the Stockholders
CB Scientific Inc. (OTC PINK:CBSC) announced a Special Stockholder Meeting to approve enhancements aimed at positioning the company for growth. The meeting will address a corporate name change, relocation for tax advantages, increased authorized shares for fundraising, and a ratification of the 2021 Omnibus Stock Incentive Plan. Management believes recent progress in Southeast Asia and an application to up list to the OTCQB creates the momentum needed for these changes. Details on the meeting date will be provided in the coming weeks.
- Plans to relocate corporate domicile for better tax laws.
- Seeking approval for a name change to align with future growth.
- Increased authorized shares to enhance fundraising efforts.
- Ratification of 2021 Omnibus Stock Incentive Plan to attract talent.
- Need for shareholder approval for critical changes may delay implementation.
Agenda to include matters necessary to better position the company for anticipated growth and development
ESCONDIDO, CA / ACCESSWIRE / November 30, 2021 / CB Scientific. Inc. (OTC PINK:CBSC) ("CBSC" or the "Company") has announced it will convene a Special Stockholder Meeting in order to gain approval to implement a number of significant enhancements which management believes will better position CBSC to attain its stated business objectives. As previously disclosed, the Company is actively expanding its market awareness throughout Southeast Asia, especially including China, Malaysia, Thailand, Indonesia, and Singapore.
"Based on recent progress, our leadership team concluded that the demonstrable progress achieved in key Asian markets, coupled with our recent application to up list to the OTCQB® Venture Market, has created sufficient traction for us to take action to better align the Company for the future success," said Paul Danner, Chairman of CBSC. "Specifically, we plan to seek shareholder approval to implement a corporate name change which more accurately describes our business direction and future growth potential, relocate our corporate domicile to a state which provides superior tax laws and corporate regulations, increase the number of our authorized common shares to facilitate essential fundraising aspirations, ratify the Company's 2021 Omnibus Stock Incentive Plan which we require to recruit and retain the best possible industry talent, as well as certain other actions necessary to properly position us for a potential listing on the Nasdaq exchange at some point in the future."
The specific date and time of the Special Stockholder Meeting should be announced within a matter of weeks and will provide requisite notice pursuant to applicable laws, as well as the Company's current Bylaws and Certificate of Incorporation.
As additional new developments occur, CB Scientific, Inc. 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, Inc., 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.
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FAQ
What is the purpose of the Special Stockholder Meeting for CBSC?
What changes is CBSC seeking approval for at the Special Stockholder Meeting?
What markets is CBSC expanding into?
Why is CBSC planning a corporate name change?
How does the proposed domicile relocation benefit CBSC?
