Morris Business Development, Inc. Announces Filing with OTC and Election of Officers and Directors

Rhea-AI Summary

Morris Business Development, Inc. (MBDE) has appointed Elwood Sprenger as President and Director and John D. Kerr as Secretary and Director. The company has achieved compliance with the California Franchise Tax Board and is current with OTC markets as of May 20, 2021. MBDE is also working towards updating its SEC filings. The press release highlights potential risks related to competition and growth management, emphasizing that the company is not required to update forward-looking statements.

Positive

• New leadership team appointed: Elwood Sprenger as President and John D. Kerr as Secretary.
• MBDE is current with California Franchise Tax Board.
• Compliance achieved with OTC markets as of May 20, 2021.

Negative

• Need to update SEC filings, indicating potential compliance risks.

Morris Business Development, Inc. (Grey Sheet Market: MBDE), a California based company that is engaged in the development of business specializing in health care and financial services, announced that Elwood Sprenger has been elected President and Director and John D. Kerr has been elected Secretary and Director. As well, MBDE have become current and are in good standing with the State of California Franchise Tax Board. MBDE also got current with the OTC markets on May 20th, 2021. MBDE is now working to get current with their SEC filings.

This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisition of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The company is not obligated to revise or update any forward- looking statements in order to reflect events or circumstances that may arise after the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210622005912/en/

FAQ

Who is the new president of Morris Business Development, Inc. (MBDE)?

Elwood Sprenger has been elected as the new President and Director of MBDE.

What recent compliance milestones has MBDE achieved?

MBDE has become current with the California Franchise Tax Board and OTC markets as of May 20, 2021.

What are the risks mentioned in MBDE's press release?

The press release cites risks such as competition, growth management, and the ability to attract skilled personnel.

Is MBDE current with its SEC filings?

MBDE is working towards updating its SEC filings but is not currently compliant.