CB Scientific, Inc. Concludes its Annual Audit with MaloneBailey, LLP
CB Scientific announced the successful completion of its annual audit by MaloneBailey, LLP, adhering to PCAOB standards. This milestone positions the company strongly for an uplisting to the OTCQB Venture Market, expected to enhance investor benefits through higher reporting standards and improved analyst coverage. The company is also set to implement corporate changes, including a name change and relocation to Nevada, to facilitate future fundraising and a potential listing on the Nasdaq Capital Markets. These developments follow a shareholder mandate from a recent special meeting.
- Successful completion of annual PCAOB audit.
- Positioned for uplisting to OTCQB, enhancing investor benefits.
- Planned corporate initiatives following clear shareholder mandate.
- None.
Achieving Major Milestone Squarely Positions the Company for Uplisting to the OTCQB® Venture Market
ESCONDIDO, CA / ACCESSWIRE / March 15, 2022 / CB Scientific. Inc. (OTC PINK:CBSC) ("CBSC" or the "Company") announced today that MaloneBailey, LLP has successfully concluded its annual audit of the Company in accordance with Public Company Accounting Oversight Board standards, and consequently issued their favorable Auditor's Report on March 14, 2022.
"We are extremely satisfied to have achieved this critical milestone in the Company's concentrated effort to better position CBSC in the pursuit of our planned business objectives, including an uplist to the OTCQB® Venture Market (OTCQB)," said Charles Martin, Chief Executive Officer of CB Scientific, Inc. "Completing a PCAOB audit is one of many stringent requirements stipulated by the OTC MARKETS OTCQB application process, so having already addressed other stated conditions, we anticipate final approval to be forthcoming."
The Company believes that an uplist to the OTCQB will provide enhanced investor benefits, including more comprehensive compliance requirements, higher reporting standards, and greater access to analyst coverage.
"This significant accomplishment allows the Company to move forward with several previously announced corporate initiatives pursuant to the results of our recent Special Stockholder Meeting," said Paul Danner, Chairman of CB Scientific, Inc. "Based on the clear shareholder mandate delivered at the meeting in January, we are ready to move forward with our plans to implement a corporate name change which more accurately describes our business direction and future growth potential, relocate our corporate domicile to Nevada which provides superior tax laws and corporate regulations, increasing the number of our authorized common shares to facilitate essential fundraising aspirations, as well as certain other actions necessary to properly position us for a potential listing on the Nasdaq Capital Markets exchange at the appropriate point in the future."
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
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