EV Biologics Updates on FINRA
EV Biologics Corp (OTC PINK:YECO) has updated shareholders regarding its pending FINRA applications for an NFT dividend distribution and name change. The company is awaiting FINRA's approval for its unique NFT dividend, which would mark the first such distribution by a public company. Shareholders of record from July 30, 2021, will receive a warrant to own the NFT. The name change process has experienced delays since August 2020. EV Biologics is transitioning to digital securities and plans to list on the INX exchange, focusing on nanomedicine and regenerative therapies.
- First public company attempting NFT dividend distribution.
- Shareholders will receive warrants for owning NFTs.
- Transitioning to digital securities on the INX exchange.
- Delays in the FINRA approval process for name change.
- Prolonged application process since August 2020.
NASHVILLE, TN / ACCESSWIRE / January 18, 2022 / EV Biologics Corp, OTC PINK:YECO, today updated shareholders with further details about its submitted FINRA applications for name change and NFT dividend distribution.
The Company is still awaiting approval from FINRA for the NFT dividend distribution. This is the first time that any public company has attempted to distribute a NFT digital asset as a dividend. Upon approval from FINRA, the Company will distribute the NFT dividend by the most effective means. As previously announced, YECO's shareholders-of-record on July 30, 2021, will receive a Warrant to exercise their right to accept ownership of the NFT.
The Company is also still working through the name change process with FINRA, as first announced on August 6, 2020. The Company moved its domicile from Cayman Islands to Wyoming on April 12, 2019 and received its new CUSIP number on August 20, 2020. After almost a year and a half of numerous FINRA submissions, what should have been a straightforward application process is no further along. The Company management is extremely frustrated with the administrative delay in the approval of the name and symbol change.
As announced on November 11, 2021, the Company intends to tokenize the business of the Company and list on the blockchain-based exchange, INX. The Company will announce further information regarding this transition to digital securities, trading on the INX Securities ATS, as it becomes available.
About the Company
EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, developing a range of nanomedicines to substantially enhance the intrinsic therapeutic activity of stem cell-derived paracrine therapeutics. Using AI technology, the Company is developing biological data systems for rapid optimization of therapeutic activity. The Company is also developing bioengineering and biomanufacturing innovations for optimized production of nanoparticle biologics. These versatile platforms will enable accelerated generation of nanomedicines targeting regenerative medicine and other specific clinical indications. The inventions and proprietary innovations supporting this development are the subject of the Company's intellectual property.
About the NFT
rEVerie depicts the essence of intercellular communication, illustrating stem cells as they appear with fluorescent microscopy. Beyond capturing the stunning visual quality of this biological system, the synchronized release of bioactive nanoparticles signifies the harmony of intercellular communication they mediate in nature. rEVerie alludes to the fundamental aspects of biotechnology that will deliver the next generation of biotherapeutics to conquer aging, disease, and injury. This NFT was created to commemorate an early stage of our technological progress, and to issue as a dividend to shareholders as a token of our appreciation for their continuing support of our development of EV-based therapeutics.
Please preview the rEVerie NFT: https://www.evbiologics.com/business/
Forward-Looking Statements
This news release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
YECO has 7.22 million shares issued and outstanding with a float of 1,016,375 shares.
Contact:
Dennis Burns
Investor Relations
Tel: (567)237-4132
dburns@nvestrain.com
For more information on EV Biologics please visit:
www.evbiologics.com
SOURCE: EV Biologics Corporation
View source version on accesswire.com:
https://www.accesswire.com/683718/EV-Biologics-Updates-on-FINRA
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