TNRG Requests OTCQB Listing, Plans Reg A Offer
Thunder Energies Corp (OTC: TNRG) has applied for listing on OTCQB, enhancing its trading status from a pink sheet stock. The company corrected delinquent SEC filings for 2022 and 2021 with help from independent auditors. Management believes it meets OTCQB requirements, aiming to remove trading restrictions on TNRG's common stock and targeting accredited investors. A Regulation A offering is also planned to raise funds. President Ric Haynes stated this uplist represents a significant step toward increasing company value and improving its balance sheet.
- Applied for OTCQB listing to enhance trading status.
- Corrected delinquent SEC filings for 2022 and 2021.
- Believes it meets OTCQB listing requirements, which may expand the investor base.
- Plans to file a Regulation A offering to raise capital.
- Current trade is still restricted to accredited investors only.
ATLANTA, GA, Jan. 17, 2023 (GLOBE NEWSWIRE) -- THUNDER ENERGIES CORP (OTC: TNRG) announces that it has applied to be listed and participate in the OTC Markets venture capital link software, OTCQB. The company added that the current reports the company has filed with the SEC have remedied delinquent Securities and Exchange Commission 10Q reports for 2022 and the annual 10K report for 2021, all prepared by the professional auditing firm of Paris Kreit & Chiu CPA as independent outside auditors and SEC registered auditor.
A public company must meet the minimum standards for listing on the OTCQB system, commonly referred to as the Venture Market designed for medium size businesses. The management of TNRG believes it substantially complies with market requirements including minimum trading value and the number of shareholders.
"This is an important step in the removal of restrictions on the full trading of TNRG's common stock," Ric Haynes, TNRG president explained. The long-term goal of management was to fully restore TNRG's trading status. However, the stock is still restricted as a pink sheet stock with only certain accredited investors allowed to purchase the security. Restrictions are less onerous with the venture market OTCQB listing,
In addition, the company has announced it is filing a Regulation A offering for investors.
Haynes, Thunder Energies' president, added that the uplist application will be just one of several actions company management intends to take in the next few months to increase the company's value.
"We can now move forward with the issuance of common stock through a Regulation A offering, as well as other channels. The OTCQB application is a major accomplishment that will be able to, without a doubt, increase the company's balance sheet and stock market value.
"Thank you to our company managers who have devoted hundreds of hours toward achieving these goals," Haynes said, explaining that the compliance goal could not have been met without company management actively guiding the process over the past several months.
For more information about Thunder Energies, its SEC filings, and business activities, please visit: www.thunderenergiescorp.com
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
CONTACT
Investor Relations
Rick Freeman
CMO
MAJORMEDIA INC
E: majormediasales@comcast.net
P: 570.468.2205
Donald R. Keer, P.E., Esq.
Corporate Counsel
Thunder Energies Corp.
3663 Greenwood Circle
Chalfont, PA 18914
215-962-9378
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