MDWerks Common Stock Transitions to OTC Expert Market
MDWerks announced that its common stock has transitioned to trading on the OTC Expert Market under the ticker 'MDWK'. This change is due to the company's failure to timely file its Annual Report on Form 10-K for the fiscal year ending December 31, 2023, with the SEC. Previously, the company filed a Form 12b-25, citing the need for additional time to complete year-end procedures and the audit. MDWerks is actively working to finalize these procedures and aims to file the Form 10-K soon to restore its trading status on the OTC Pink Market.
- Company continues to allocate significant resources to complete year-end procedures.
- MDWerks is working diligently to restore its trading status on OTC Markets Pink Market.
- Failure to file Annual Report on Form 10-K on time.
- Transition of stock to OTC Expert Market may affect investor confidence.
- Potential delays in financial reporting could raise concerns about company management and operations.
As previously reported in the Company’s Notification of Late Filing on Form 12b-25 filed with the SEC on April 1, 2024 (the “Form 12b-25”), the Company was unable to file its Form 10-K within the prescribed period because the Company requires more time to complete the procedures relating to its year-end process, including the completion of the audit of the Company’s financial statements by the Company’s independent auditors for inclusion in the Form 10-K. Subsequent to filing the Form 12b-25, the Company has continued to dedicate significant resources to the completion of such procedures.
The Company is working diligently to complete the necessary work to file the Form 10-K as soon as practicable in order to restore its trading status on OTC Markets Pink Market.
About MDWerks, Inc.
MDWerks, Inc. (“MDWerks”) (OTC: MDWK) is a forward-thinking company that is leading the charge in the world of sustainable technology. As a prominent provider of energy wave technologies, MDWerks is committed to developing innovative solutions that help businesses reduce their energy costs and drive business value. For more information, please visit https://mdwerksinc.com/. MDWerks’ wholly owned subsidiary, Two Trees Beverage Company, is headquartered deep in the Appalachian Mountain country, creating fine spirits, aged sustainably. Two Trees’ fine spirits brands, including Two Trees® and Tim Smith Spirits®, have received multiple industry awards, including recent recognition at the 2022 Sip Awards, the 2022 Fifty Best Awards, and the 2023 Best of Asheville. For more information, please visit https://twotreesdistilling.com/. MDWerks’ wholly owned subsidiary, RF Specialties, LLC, addresses companies’ most pressing challenges by implementing automated radio frequency technology systems in a sustainable way reducing energy costs and increasing speed to market when compared to traditional methods. For more information, please visit https://www.rfspecialtiesus.com/.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking statements". Forward-looking statements also may be included in other publicly available documents issued by MDWK and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause MDWK’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for MDWK’s products and services, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission from time to time, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Forms 10-Q and Current Reports on Form 8-K, which are available on the Securities and Exchange Commission’s website at sec.gov. We assume no obligation to update any forward-looking statements contained in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240524107133/en/
Company:
MDWerks, Inc.
Steven Laker
T: (252) 501-0019
stevel@mdwerksinc.com
Investor:
The Equity Group
Kalle Ahl, CFA
T: (303) 953-9878
kahl@equityny.com
Source: MDWerks, Inc.
FAQ
Why did MDWerks transition to the OTC Expert Market?
What is the ticker symbol for MDWerks on the OTC Expert Market?
When did MDWerks file the Form 12b-25?
What is MDWerks doing to restore its trading status?
