NextMart, Inc. - Audited Financial Statements and Up Listing

Rhea-AI Summary

NextMart, Inc. (NXMR) announced that its audited financial statements for the year ending September 30, 2021, will be completed soon. Following this, NXMR plans to file a Form 211 Disclosure Statement with FINRA to enable broker-dealer quotations for its stock, facilitating an easier trading market for investors. CEO Kathryn Gavin highlighted that this step and the reduction of authorized common stock from 750 million to 225 million shares mark significant developments aimed at enhancing shareholder value and reducing price volatility.

Positive

• Completion of audited financial statements expected to enhance credibility.
• Filing Form 211 will allow for broker-dealer quotations, improving market accessibility.
• Reduction of authorized common stock by 70% suggests a strategy to enhance share value.

Negative

• None.

CARLSBAD, N.M., Oct. 20, 2022 /PRNewswire/ -- NextMart, Inc. (the "Company" or "NXMR" - Pink Sheets Alternative Reporting Pink: NXMR) – NXMR would like to announce that the that its audited financial statements for FYE September 30, 2021, will be completed later this month ("Audit").   

Upon completion of the Audit, the Company will be filing the required Form 211 Disclosure Statement with FINRA through a market maker pursuant to SEC Rule 15c2-11 in order for our Common Stock to be eligible for proprietary broker-dealer quotations which will allow for a more orderly trading market for investors. Upon approval of the Form 211, the Company will make the appropriate application with OTC Markets to up list to the OTCQB.

Kathryn Gavin (CEO of the Company), states…" We have been working to complete the Audit now for over four months.  The filing and approval of the Form 211 Disclosure Statement and the up Listing to the OTCQB will be a huge event for our market shareholders as they can place transactions much easier.  This should also lower the risk for wider spreads and price volatility. Another seminal event is the lowering of our authorized Common Stock from 750,000,000 when we first took over management of the Company to 225,000,000 shares of Common Stock as of today, which is a 70 Percent decrease in Authorized common stock.  These events discussed in this press release that have been completed by the Company are focused solely of adding value to our market investors now and in the future."

Forward Looking Statement

Certain statements that we make may constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. The statements contained herein may contain certain forward-looking statements relating to NXMR that are based on the beliefs of NXMR's management as well as assumptions made by and information currently available to NXMR's management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to the NXMR's business prospects, future developments, trends and conditions in the industry and geographical markets in which NXMR operates, its strategies, plans, objectives and goals, its ability to control costs, statements relating to prices, volumes, operations, margins, overall market trends, risk management and exchange rates.

ABOUT US

NextMart, Inc., a Delaware Corporation, is a public quoted Pink Sheet issuer under the ticker symbol "NXMR". Currently, NXMR currently is a shell company with a new management team with plans to become a current alternative reporting issuer with OTC Markets. The Company is currently looking for an appropriate business acquisition.

CONTACT:

15150 Preston Road
Suite 300
Dallas, TX 75248

Company Web Site: https://nextmartcorporation.com/

Emco Oilfield Services, LLC Web Site: https://emcooilfield.com/

Twitter: @CorporationNxmr

 

View original content:https://www.prnewswire.com/news-releases/nextmart-inc--audited-financial-statements-and-up-listing-301655430.html

SOURCE NextMart, Inc.

FAQ

What are the upcoming financial disclosures for NXMR?

NextMart, Inc. is set to complete its audited financial statements for the year ending September 30, 2021, later this month.

What is the significance of the Form 211 filing for NXMR?

The Form 211 filing will allow NXMR's common stock to become eligible for broker-dealer quotations, which may lead to improved trading conditions.

How has NXMR reduced its authorized common stock?

NXMR has decreased its authorized common stock from 750 million shares to 225 million shares, representing a 70% reduction.

What are NXMR's plans following the completion of the audit?

NXMR plans to apply for an uplisting to the OTCQB after the completion of the audit and approval of the Form 211.

When was the press release about NXMR published?

The press release was published on October 20, 2022.