NextMart, Inc. - OTC Pink Current Status

Rhea-AI Summary

NextMart, Inc. (NXMR) has regained its "Pink Sheet Current" status after fulfilling mandatory disclosure requirements with the OTC Markets Group. The company filed its financial statements for Q1 2022, ending December 31, 2021, on February 23, 2022. President William Bouyea acknowledged a missed filing deadline due to staff oversight but assured that measures have been implemented to prevent future lapses. NXMR is now focused on advancing its business plan and anticipates making several significant announcements soon.

Positive

• NXMR is now classified as 'Pink Sheet Current' after filing its required disclosures.
• The company is expected to make several material announcements soon regarding its business plan.

Negative

• The company missed its mandatory filing deadline, which led to a temporary downgrade in status.

HOLYOKE, Mass., March 2, 2022 /PRNewswire/ -- NextMart, Inc. (the "Company" or "NXMR" – OTC Pink Sheets: NXMR) – NXMR is pleased to announce today that the OTC Markets Group, Inc. ("OTC Markets") has approved its the quarterly filing and cleared NXMR as "Pink Sheet Current" as it is now current with all required mandatory disclosure filings again.

The Company filed its quarterly disclosure statements and financial statements for the 1^st quarter ended December 31, 2021, on February 23, 2022.

William Bouyea (President and CEO of the Company), states…" We have been working with OTC Markets, Inc. ("OTC Markets") since being classified as Pink Sheet Limited Information a little over a week ago. When this occurred, we immediately made application and paid the fee for expedited review of our 1^st quarter ended, December 31, 2021, disclosure statement and financial statements. In the end, with everything that has been happening this quarter including the acquisition of Emco Oilfield Services, LLC, and the asset purchase with Defender Contracting, LLC, our staff simply missed the filing deadline. Our compliance staff had already been preparing this filing which was filed immediately upon being assigned the limited qualification. Moving forward, we have taken steps to ensure this never occurs again with regards to OTC Market mandatory quarterly disclosure requirements. 

William Bouyea (President and CEO of the Company), further stated... "Now it is time to get to back to the current business plan of action and expect to be making several material announcements to these regards shortly."

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 operates two subsidiaries Emco Oilfield Services, LLC and Defender Contracting, LLC which operate in the oil field services industry in the Permian Basin of Eastern New Mexico and Western Texas.

CONTACT   

98 Lower Westfield Road
Holyoke, MA 01040
Phone: (602) 499-6992
Twitter: @CorporationNxmr
Email: info@nextmarkcorporation.com

 

View original content:https://www.prnewswire.com/news-releases/nextmart-inc--otc-pink-current-status-301494120.html

SOURCE NextMart, Inc.

FAQ

What does it mean for NXMR to be 'Pink Sheet Current'?

Being 'Pink Sheet Current' indicates that NXMR is compliant with OTC Markets' reporting requirements, allowing for greater transparency.

When did NXMR file its financial statements?

NXMR filed its financial statements for Q1 2022 on February 23, 2022.

What led to NXMR's temporary status change?

NXMR's status changed due to a missed filing deadline attributed to staff oversight.

What upcoming announcements can NXMR investors expect?

NXMR is expected to make several significant announcements related to its business plan in the near future.