Industrial Nanotech CEO/CTO Stuart Burchill Provides Shareholder Update
Rhea-AI Summary
Industrial Nanotech Inc (Pink Sheets: INTK) provided a shareholder update on Sept. 27, 2021. CEO Stuart Burchill announced the company has met SEC 15c2-11 requirements and is preparing to apply for 'Current Information' status on OTCMarkets. Furthermore, the company plans to audit its financials for 2020 and 2021 to pursue a higher listing. Burchill noted the impact of Covid-19 on larger sales while expressing optimism about future quarters as restrictions are lifted.
Positive
- Met SEC 15c2-11 requirements.
- Plans to have 2020 and 2021 financials audited for higher listing.
- Optimism about upcoming quarters as Covid-19 restrictions are lifted.
Negative
- Larger sales were significantly affected by Covid-19 restrictions.
News Market Reaction – INTK
On the day this news was published, INTK gained 13.11%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
BROOMFIELD, Colo., Sept. 27, 2021 /PRNewswire/ -- Industrial Nanotech Inc (Pink Sheets: INTK), a company that specializes in nanotechnology innovation and product development, today provided a shareholder update.
Industrial Nanotech Inc's CEO/CTO, Stuart Burchill, provided the following information, "Now that we have successfully met the requirements of the new SEC 15c2-11 rules, we are quickly taking the necessary steps to provide OTCMarkets with the additional documentation required to move to "Current Information" status."
Mr. Burchill continues, "We are also beginning the process of having our financials for 2020 and 2021 audited by an independent PCAOB auditor so that we can finish in the first months of 2022 and make application to a higher listing status."
Additionally, Mr. Burchill discussed the impact of Covid-19 on the Company's revenue in 2020, 2021 to date, and moving forward.
"Smaller sales, LeadX and small projects, were not severely impacted by the pandemic. Larger sales were dramatically affected," states Mr. Burchill. "Larger projects require us to visit the plant and demonstrate the products and, after the sale, they require outside contractors to be allowed on site. Our large order customers had a complete ban on outsiders coming into the factories or restricted it to only the most essential outside personnel. Now we are beginning to see those restrictions lifted and we are very optimist about the upcoming quarters and years."
About Industrial Nanotech, Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology by participating with world-leading scientists and laboratories.
See www.industrial-nanotech.com for more information.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve 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 and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Industrial Nanotech, Inc.
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SOURCE Industrial Nanotech, Inc.
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