Yulong to List its Securitized Token on CryptoSX
Yulong Eco-Materials Limited (OTC PINK:YECO) announced plans to list its Securitized Token Offering (STO) on the CryptoSX digital exchange, a regulated platform for trading digital assets. The STO will fund the development of an extracellular vesicle drug targeting acute lung injury (ALI), which is linked to severe conditions like COVID-19. CEO Daniel McKinney highlighted this as a pioneering move in biotech funding through licensed exchanges. The company aims to minimize shareholder dilution by not issuing new shares and seeks to up-list to OTCQB.
- STO aims to fund development of a drug for acute lung injury, addressing a significant medical need.
- Listing on a regulated exchange (CryptoSX) demonstrates enhanced credibility and accessibility.
- No new shares will be issued, minimizing dilution for existing shareholders.
- Plans to become fully reporting by Q4 2020 and potentially up-list to OTCQB.
- No current effective drug exists for acute lung injury, indicating high risk and uncertainty in R&D outcomes.
- Dependence on successful completion of the STO for financing poses potential funding risks.
CHEYENNE, WY / ACCESSWIRE / September 23, 2020 / Yulong Eco-Materials Limited / EV Biologics, Inc. (OTC PINK:YECO) today announced that it intends to list its Securitized Token Offering "STO" on the CryptoSX digital exchange.
CryptoSX is a fully licensed and regulated Digital Assets Exchange that allows issuers to tokenize and investors to buy and sell digital assets including assisting issuers to securitize assets, such as public company securities, real estate, art, antiques and other valuable assets. The Exchange recently integrated itself with Ravencoin to accommodate STO's utilizing its blockchain. Along with its existing Ethereum platform, it intends to become fully compliant with the U.S. Securities and Exchange Commission and with FINRA. CryptoSX welcomes companies from around the world to securitize their assets, raise capital for business development and expansion and as a platform for secondary trading.
CryptoSX CEO, Philip Tam said "we are thrilled to have EV Biologics list their token on our exchange. They are truly a pioneering firm in both funding and in cutting edge medical science! We see CryptoSX as the digital version of a worldwide "over the counter" marketplace for startups to mature companies."
Security Token Offering (STO)
The token will be a SEC registered security to be issued by EV Biologics on an Ethereum-based financial instrument intended to fund the development of the first extracellular vesicle (EV) based biological drug for the treatment of acute lung injury "ALI". ALI is the core pathophysiologic (the abnormal function of the body's processes associated with disease or injury) process which leads to widely known and potentially fatal diseases including COVID-19, influenza and acute respiratory distress syndrome. Mesenchymal stem cell-derived extracellular vesicles (MSC-EVs) have demonstrated multiple intrinsic biological properties that conferred therapeutic benefits in preclinical studies.
Acute Lung Injury is the central mechanism contributing to the worldwide tragedy that is affecting millions of people, and for which there is no effective drug currently available. Also commonly caused by trauma, sepsis, pneumonia and drug toxicity, ALI is initiated by an inflammatory process that damages the delicate barrier that separates the air spaces of the lungs from the circulation. This inflammation precipitates a cytokine storm that injures the cells that make up this barrier and the junctions between them. The ensuing disruption of normal gas exchange in the lungs causes inadequate oxygenation of the blood and can progress to the most severe form of ALI: acute respiratory distress syndrome (ARDS), which may have up to a
The ALI token holder will be directly funding the battle against this deadly disease and will be an integral partner with EV Biologics in the development of the Extracellular Vesicles specifically designed to combat ALI.
CEO Daniel Mckinney, said "We are the first biotech company in the world to issue a STO for funding R&D and trade the token on a licensed digital exchange. We look forward to working closely with CryptoSX."
We are now updating and developing our new website to include the STO details and when we plan to list the token on the CryptoSX exchange. Our STO financing will not require the issuance of any shares, thus minimizing dilution of existing shareholders.
The Company is preparing its updated accounting and intends to become fully reporting again before the end of Q4, 2020. YECO was previously a Nasdaq listed company and intends to up-list to OTCQB, then to a mainboard exchange again.
For more information about STO's please click on this link: https://link.medium.com/Ttu2cLrZQ9
About CryptoSX
With the empowerment of world-leading technologies, CryptoSX is building a cutting edge crypto exchange platform for STOs backed by Fiat/Crypto conversion capabilities. They are significantly involved in assisting companies in STO primary listings, STO secondary trading and to develop and launch a substantial decentralized finance "DeFi" business, including crypto lending.
CryptoSX is compliant with all of the applicable financial and virtual exchange policies and regulations of the Philippine government under CEZA (Cagayan Economic Zone Authority). CryptoSX was awarded a Full Principal License by CEZA in 2018. Since then, CryptoSX has been working very closely with CEZA to further develop and enhance the STO listing procedures, compliance and reporting requirements. It is one of the very few exchanges that is operating with such a relevant license in Asia.
For more information on CryptoSX please visit: www.cryptosx.io
About the Company
EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, intent on bringing human mesenchymal "MSC" and other stem cell and cell-derived products to market in the cosmetic and biopharmaceutical spaces. Initially, these novel and unique products will be specifically provided to the international clinical research community including universities and physicians and will be targeted to the aesthetic and regenerative medicine markets. Using proprietary and patentable technologies, the Company is creating exclusive IP and IT inherent in our superior products. Further product development will be focused on investigation of novel stem cell-derived biopharmaceuticals designed for specific clinical conditions.
Forward-Looking Statements
This press 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 6.21 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: Yulong Eco-Materials Limited
View source version on accesswire.com:
https://www.accesswire.com/607422/Yulong-to-List-its-Securitized-Token-on-CryptoSX
FAQ
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