CB Scientific, Inc. Announces Voluntary Delisting from OTCQB Venture Market

Rhea-AI Summary

CB Scientific (OTC PINK:CBSC), a company focused on non-invasive ambulatory cardiac monitoring products, has announced its voluntary delisting from the OTCQB Venture Market. This decision aims to preserve capital for implementing the company's business plan. Importantly, CBSC's common stock will continue trading on the OTC Pink Open Market, allowing shareholders to maintain their ability to trade shares in the public market. The company states that it plans to re-engage an auditor and apply for uplisting when certain milestones are achieved and conditions are appropriate.

Positive

• Continued trading on OTC Pink Open Market, maintaining shareholder liquidity
• Capital preservation for business plan implementation
• Future plans for re-engaging auditor and potential uplisting

Negative

• Voluntary delisting from OTCQB Venture Market
• Potential reduction in visibility and investor confidence
• Implied financial constraints necessitating cost-cutting measures

LAS VEGAS, NV / ACCESSWIRE / August 20, 2024 / CB Scientific, Inc. (OTC PINK:CBSC) ("CBSC" or the "Company"), a designer, manufacturer and distributor of non-invasive ambulatory cardiac monitoring products and services, announced today that the Company is voluntarily delisting its common stock ("Common Stock") from trading on the OTCQB Venture Market. Delisting from the OTCQB Venture Market will have no impact on Company's Common Shares which will continue to trade on the OTC Pink Open Market providing stockholders the ability to trade their shares in the public market as they can do now.

The decision to delist from the OTCQB Venture Market was made to preserve capital for implementing the company's business plan. As the Company achieves certain milestones, and when conditions are appropriate, it will be prepared to re-engage an auditor and apply to uplist.

About CB Scientific, Inc.

CB Scientific, Inc., through its international subsidiaries, provides innovative products and services in the ambulatory non-invasive cardiac monitoring space. Our electrocardiogram (EKG) devices, interactive cloud-based acquisition software, and smartphone apps for both iOS and Android platforms provides improved compliance for patients at risk of abnormal heart rhythms, as well as more accurate information for physicians.

Company Contact Information:

Telephone: (888) 225-0870
Email: General Inquiries: info@cbscientificinc.com
Investor Inquiries: investor@cbscientificinc.com
Follow CBSC: X, Facebook, Instagram, LinkedIn, YouTube, and Newsletter

This information disclosure may contain forward-looking statements covered within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions, and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions.

SOURCE: CB Scientific, Inc.

View the original press release on accesswire.com

FAQ

Why is CB Scientific (CBSC) delisting from the OTCQB Venture Market?

CB Scientific is voluntarily delisting from the OTCQB Venture Market to preserve capital for implementing its business plan. This decision aims to reduce costs associated with maintaining the OTCQB listing.

Will shareholders of CB Scientific (CBSC) still be able to trade their shares after delisting?

Yes, shareholders will still be able to trade their shares. CB Scientific's common stock will continue to trade on the OTC Pink Open Market, providing stockholders the ability to trade their shares in the public market as they can do now.

What are CB Scientific's (CBSC) future plans regarding market listing?

CB Scientific plans to re-engage an auditor and apply for uplisting when certain milestones are achieved and market conditions are appropriate. This indicates a potential return to a higher-tier market in the future.

When will CB Scientific (CBSC) delist from the OTCQB Venture Market?

The press release does not specify an exact date for the delisting. However, the announcement was made on August 20, 2024, suggesting the delisting process will occur after this date.