Trutankless, Inc. provides information regarding recent events

Rhea-AI Summary

Trutankless, Inc. (OTC: TKLS) has been moved to the 'Expert Market' due to non-compliance with SEC filing requirements. The company aims to regain its current filing status and is actively working toward this goal. Recently, Trutankless secured financing to support its product development and operations. The company specializes in tankless water heaters and seeks to relist on OTC Pink or other markets once compliance is achieved. This press release will be submitted to the SEC as an exhibit to Form 8-K.

Positive

• Secured financing for product and technology development.
• Company is actively working to regain current filing status.

Negative

• Moved to the Expert Market due to non-compliance with SEC filings.
• May face risks and uncertainties regarding future sales and regulations.

PHOENIX, Aug. 11, 2022 /PRNewswire/ -- Trutankless, Inc. (OTC: TKLS), a manufacturer of the Trutankless brand of tankless, is currently trading in the "Expert Market" which is available to broker-dealers, institutions, and other sophisticated investors.

SEC amendments to Rule 15c2-11 became effective on September 28, 2021. One result of the amendments is that Companies which are not current with their filings with the SEC may be moved to the Expert Market. Trutankless, Inc. was moved to the Expert Market tier and can apply to relist on the OTC Pink or other OTC Markets tier once it has filed the requisite current financial information on the SEC's EDGAR database.

The Company is optimistic that it will be able to regain current filing status and is working diligently to be able to do so.

Additionally, the Company has recently secured financing to help sustain its product and technology development and ongoing business operations.

This release will be filed by the Company with the Securities and Exchange Commission as an exhibit to Form 8-K. 

About Trutankless, Inc.:

Trutankless, Inc. (OTC: TKLS) is a technology-driven developer of accessible, next-generation home automation and efficiency systems.  The Company's primary products are a line of electric tankless water heaters that outperform other water heaters that are sold exclusively through to plumbing wholesale distributors and dealers.  Trutankless, Inc. was founded in 2008 and is headquartered in Scottsdale, Arizona.

Please visit www.trutankless.com or call 855-TO-BUY-TRU.

Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the release are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, risks of the key strategic sales and distribution partners ability to sell our product, and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. There is no guarantee that any specific outcome will be achieved. Past performance is not indicative of future results.

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SOURCE Trutankless, Inc.

FAQ

Why was Trutankless, Inc. (TKLS) moved to the Expert Market?

Trutankless, Inc. was moved to the Expert Market due to non-compliance with SEC filing requirements.

What steps is Trutankless, Inc. taking to regain compliance?

The company is actively working to regain its current filing status with the SEC.

How has Trutankless secured financing?

Trutankless has secured financing to support its product development and ongoing operations.

What market does Trutankless intend to relist on?

Trutankless intends to relist on the OTC Pink or other OTC Markets tier once compliance is achieved.

When did the SEC amendments to Rule 15c2-11 become effective?

The SEC amendments to Rule 15c2-11 became effective on September 28, 2021.