Cytta Corp. Becomes a Fully Reporting US SEC Company

Rhea-AI Summary

Cytta Corp (OTC PINK:CYCA) announced that its resale Registration Statement on Form S-1 was declared effective by the SEC on November 3, 2021. This milestone marks Cytta becoming an SEC reporting company, obliging it to prepare financial statements under U.S. GAAP. Notably, Cytta is not selling new securities, as the Registration Statement pertains to potential resales by existing security holders. CEO Gary Campbell emphasized this achievement improves transparency and positions the company for increased access to capital markets.

Positive

• SEC declared Cytta's Registration Statement effective, marking transition to a fully reporting company.
• Increased transparency expected to attract a larger pool of qualified investors.
• Establishment of a relationship with a reputable investment bank anticipated to support business objectives.

Negative

• None.

LAS VEGAS, NV / ACCESSWIRE / November 3, 2021 / Cytta Corp (OTC PINK:CYCA) the purveyor of realtime video streaming compression software (SUPR) that radically shifts how video is streamed, consumed, transferred and stored, announces that the United States Securities and Exchange Commission (the "SEC") declared Cytta's resale Registration Statement on Form S-1 (the "Registration Statement") effective on November 3, 2021.

Cytta became an SEC reporting company upon effectiveness of the Registration Statement. Accordingly, the Company's financial statements are now required to be prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP), with quarterly and yearly financial statements included in required periodic reports to be filed with the SEC. Cytta is not selling any securities under the Registration Statement. Rather, the Registration Statement relates to the potential resale, from time to time, of securities of the Company by certain of its security holders. Cytta will ‎not receive any proceeds from any sale of securities by the selling security holders pursuant to the Registration Statement.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

Gary Campbell, CEO, states, "The successful completion of this filing is a true milestone in our development. This action is fundamental to the Company's efforts to demonstrate heightened transparency to its investors and bring the Company greater visibility and credibility before a substantially larger group of qualified investors." Mr. Campbell continued, "We have now fulfilled a commitment we made to our shareholders and put ourselves firmly on the path towards greater access to capital markets via securing a relationship with a reputable investment bank. We believe this will now allow us to fulfill all of our developmental and business objectives going forward."

About Us

Cytta Corp (OTC PINK:CYCA) develops and distributes proprietary compression software technology that radically shifts how video is streamed, consumed, transferred and stored. Cytta's proprietary AI based Realtime Video Streaming Compression Software is the only solution to all current video streaming bottlenecks. Our proprietary ISR technology is built around SUPR, the most powerful software codec in the world, which is the technology at the core of our products. SUPR is designed specifically for streaming, HD, 4K, and higher resolution video while significantly reducing required technical resources.

Cytta's IGAN ICS system (originally designed for SUPR) now seamlessly streams, integrates any and all available video sources and audio sources during emergency situations. The IGAN ICS introduces immediate real-time video and audio situational awareness, which is incredibly useful and valuable for police, firefighters, first responders, emergency medical workers, industry, environmental and emergency situations, security, military and all their command centers in any emergency situation

Cytta Corp compression solutions work in size, weight, and power-constrained (SWaP) operating environments, and evolved through use in the military by meeting the need to stream multiple HD, 4K, and 4K+ video feeds with ultra-low latency, bandwidth, and power consumption. Our realtime intelligent video streaming compression technology enables heretofore unobtainable solutions to all real-world video streaming challenges. Cytta manufactures all their products in the USA.

For more information, please visit Cytta.com and/or the Cytta Video Channel on YouTube to view Cytta's vision, products, competitive advantages, marketplace, new product utilizations, and markets.

Safe Harbor Statement / Forward-Looking Statements

Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate", "believe", "estimate", "expect", "may", "objective", "plan", "possible", "potential", "project", "will", and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.

Cytta Corp
www.cytta.com
info@cytta.com

Gary Campbell, CEO
Direct (702) 900-7022
Gary@cytta.com

Michael Chermak, Chief Administrative Officer
Cell: (619) 977-7203
Chermak@Cytta.com

SOURCE: Cytta Corp

View source version on accesswire.com:
https://www.accesswire.com/670899/Cytta-Corp-Becomes-a-Fully-Reporting-US-SEC-Company

FAQ

What does Cytta Corp's effective SEC Registration Statement mean for investors?

It indicates that Cytta Corp is now a fully reporting company, providing greater transparency and potentially attracting more investors.

When was Cytta Corp's SEC Registration Statement declared effective?

The SEC declared Cytta Corp's Registration Statement effective on November 3, 2021.

Will Cytta Corp receive proceeds from the resale of securities?

No, Cytta Corp will not receive any proceeds from the sale of securities by the selling security holders under the Registration Statement.

What financial reporting standards will Cytta Corp follow after the SEC declaration?

Cytta Corp will prepare its financial statements in accordance with U.S. Generally Accepted Accounting Principles (GAAP).

What is the significance of Cytta Corp's transition to SEC reporting?

The transition to SEC reporting increases the company's visibility and credibility, which can lead to better access to capital markets.