EVIO, Inc. Provides Shareholder Update on Current Company Priorities

Rhea-AI Summary

EVIO, Inc. (OTC:EVIO) provided a significant update on its journey to become a fully audited reporting firm. The company is finalizing its annual financial report for the period ending September 30, 2022, due by December 30, 2022, to maintain compliance with OTC regulations and prevent Grey Market status. CEO William Waldrop noted plans to work with Spotlight Media Corp to meet compliance requirements and aim for an up-listing to OTCQB. The firm has also cut costs and reduced dilution, with no outstanding warrants or options.

Positive

• Completion of annual financial report to maintain compliance with OTC regulations.
• No outstanding warrants or options, enhancing shareholder value.
• Collaborating with Spotlight Media Corp to ensure regulatory compliance.

Negative

• Uncertainty associated with future financial results and market acceptance.
• Potential risks linked to cannabis regulatory environment.

HENDERSON, NV / ACCESSWIRE / November 30, 2022 / EVIO, Inc. (OTC:EVIO) is pleased to provide an update on the process to become a fully reporting and audited firm.

The Company is currently in the process of completing its annual financial report for the period that ended on September 30, 2022 which is due December 30, 2022. The completion of the annual report is necessary to remain current with the OTC's alternate reporting regulations and avoid the Grey Market Status. Upon submission, the company fully intends to satisfy the OTCPink status for OTC Markets. Furthermore, the Company is committed to filing its quarterly reports with OTC Markets to remain in compliance until it becomes fully reporting with the SEC.

"Spotlight Media Corp (OTC:PSYC) is working with EVIO to become current and compliant with OTC Markets, FINRA, and the SEC," said EVIO CEO William Waldrop. "Pragmatic expectations for the next three-to-six months are completing the 2022 annual report to stay on the OTCPink and completing the necessary SEC audits prior to ultimately up-listing to the OTCQB."

EVIO is in the middle of a major transition, and management is focused on maximizing value for shareholders. During the last month, the Company executed on a previously announced strategy to cut costs and reduce dilution. The Company entered into a Warrant Cancellation agreement with one of its lenders, at the current time the Company has no outstanding warrants or options. After executing on a series of important growth initiatives, the core business fundamentals are better positioned in the near-term, and management will be providing updates on the process as needed.

About EVIO

EVIO, Inc. ("EVIO") is a diversified holding company, focused on Construction Services and Pharmaceutical Testing. In Florida, the Company offers general contractor services serving the residential and commercial construction industry. In Canada, via its ownership in Keystone, the Company provides pharmaceutical, environmental, stability and analytical testing.

Safe Harbor Statement

Any statements in this press release that are not statements of historical fact may be considered forward-looking statements pertaining to anticipated or projected plans, performance, and developments, as well as other statements relating to future operations and results. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These forward-looking statements by their nature are estimates of future results only, and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, the Company's ability to complete product testing and launch product commercially, the acceptance of product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in Company reports available at www.evioinc.com.

For more information:
EVIO Inc.
William Waldrop, CEO
Email: info@evioinc.com
Phone (702) 748-9944

SOURCE: EVIO, Inc.

View source version on accesswire.com:
https://www.accesswire.com/729443/EVIO-Inc-Provides-Shareholder-Update-on-Current-Company-Priorities

FAQ

What is EVIO's current reporting status as of November 2022?

EVIO is in the process of finalizing its annual financial report and aims to remain compliant with OTC's regulations.

When is EVIO's annual financial report due?

The annual financial report for EVIO is due on December 30, 2022.

Who is assisting EVIO in becoming compliant with OTC Markets?

Spotlight Media Corp is working with EVIO to ensure compliance with OTC Markets and SEC.

What are the plans for EVIO's stock listing?

EVIO intends to up-list to the OTCQB after becoming fully reporting and audited.

What measures has EVIO taken to enhance shareholder value?

EVIO has cut costs and entered into a Warrant Cancellation agreement, resulting in no outstanding warrants or options.