Positron Announces Timeline for Becoming Current with its OTC Reporting & Disclosures

Rhea-AI Summary

Positron Corp (OTC: POSC) has secured full OTCIQ access for its filing process with OTC Markets, aiming to become current with OTC Pink Markets, which will remove the 'stop' sign on its ticker. This update should mitigate the impact of SEC Rule 15c2-11 changes on POSC shares. The company has engaged Rosenberg Rich Baker Berman, P.A. for auditing, essential for its SEC Form 10 filing. Positron plans to eventually upgrade to OTCQB or OTCQX, or up-list to Nasdaq, with updates expected by the end of Q3.

Positive

• Achieved full OTCIQ access for filing with OTC Markets.
• Plans to remove 'stop' sign on POSC's ticker symbol.
• Engagement of PCAOB registered audit firm for SEC Form 10 filing.
• Future plans to upgrade to OTCQB, OTCQX, or Nasdaq.

Negative

• None.

Niagara Falls, NY , Sept. 14, 2021 (GLOBE NEWSWIRE) -- Positron Corp (“Positron” or the “Company”) (OTC: POSC) is pleased to announce that Positron has received full OTCIQ access for its filing and approval process with OTC Markets. The Company is in the process of posting all required information with OTC Markets for its plan to be current with OTC Pink Markets. This process should remove the “stop” sign associated with POSC’s OTC ticker symbol. Furthermore, getting current should also mean that Positron’s shares will not be negatively impacted by the SEC’s changes to Rule 15c2-11, changes which are expected to prohibit market professionals from market making and quoting other Pink Sheet stocks that will not be current with their respective reporting.

Adel Abdullah, President of Positron stated: "The Company is currently in process of returning to a fully reporting publicly traded security. Positron has retained Rosenberg Rich Baker Berman, P.A., a PCAOB registered audit firm to perform its audit which is necessary to complete its SEC Form 10 filing.  The Company expects to file its Form 10/audited financials as soon as possible.” 

“Positron’s plans thereafter will be to upgrade to the OTCQB or OTCQX or up-list to a senior exchange such as Nasdaq as soon as practicable. We will update as the Company advances our relisting as well as provide information on our business progress at the end of Q3, concluded Mr. Abdullah.”

About Positron Corporation

About Positron: Positron Corporation is a nuclear medicine PET Imaging company specializing in the field of cardiac Positron Emission Tomography imaging - the gold standard in cardiac diagnostics. Positron’s innovative PET technology, clinical services and practice solutions enables healthcare providers to more accurately diagnose coronary artery disease and improve patient outcomes while practicing cost effective medicine.  Positron's PET only system, market position and approach in facilitating the adoption of cardiac PET are substantial advantages to the growth of the market and Positron. 

About Skyline Corporate Communications Group, LLC 

Skyline Corporate Communications Group, LLC provides strategic investor relations and corporate communications advisory services to public and late stage private companies globally. Our team has worked with more than 100 U.S. listed public companies from around the globe across diverse industries and various market caps. We have experience with shareholder activism and crisis communications, and also work with late stage private companies to help prepare them to enter the public marketplace.  www.skylineccg.com

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Positron Corporation, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

FOR FURTHER INFORMATION, please visit the company’s website at www.positron.com

FAQ

What is the recent news about Positron Corp (POSC) regarding OTC Markets?

Positron Corp has received full OTCIQ access and is working to become current with OTC Pink Markets, which will remove the stop sign on its ticker.

What are Positron Corp's plans following their OTC Markets filing?

The company aims to upgrade to OTCQB or OTCQX, or up-list to Nasdaq as soon as practicable.

Who has Positron Corp hired for their SEC Form 10 filing?

Positron Corp has retained Rosenberg Rich Baker Berman, P.A., a PCAOB registered audit firm, for its audit.

How will SEC Rule 15c2-11 changes impact Positron Corp (POSC)?

By becoming current with OTC Markets, Positron's shares will not be negatively impacted by the SEC's Rule 15c2-11 changes.