Industrial Nanotech, Inc. Provides Shareholder Update Regarding SEC Exchange Act Rule 15c2-11
Rhea-AI Summary
Industrial Nanotech (Pink Sheets: INTK) provided an update on its compliance with the new SEC Exchange Act Rule 15c2-11, effective September 28, 2021. CEO Stuart Burchill confirmed they are working with OTCMarkets to meet the new requirements, having a history of compliance since 2005. Following compliance, the company plans to engage a PCAOB audit firm to pursue an OTCQB listing to enhance shareholder value. They emphasize their ongoing commitment to transparency and accountability in financial disclosures.
Positive
- Company has a strong history of compliance since 2005.
- Plans to engage PCAOB audit firm for enhanced credibility.
- Aiming for OTCQB listing to improve shareholder value.
Negative
- None.
News Market Reaction – INTK
On the day this news was published, INTK declined 2.08%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NAPLES, Fla., Aug. 4, 2021 /PRNewswire/ -- Industrial Nanotech (Pink Sheets:INTK), a company that specializes in nanotechnology innovation and product development, today provided an update regarding meeting the requirements of the new amendments to SEC Exchange Act Rule 15c2-11 which take effect September 28, 2021.
Stuart Burchill, CEO of Industrial Nanotech, states, "We continue to work with OTCMarkets as they review our documentation previously submitted to them in June of 2021 and provide us valuable guidance on meeting the new requirements. We fully expect to meet the required deadline. We have been listed on OTCMarkets since 2005, have never had an SEC compliance problem, and have voluntarily had our financials audited by PCAOB auditors twice. Meeting the new requirements in a timely manner as required is well within our internal standard procedures for compliance and disclosure."
Industrial Nanotech Inc further announces that, subsequent to meeting the new SEC Exchange Act Rule 15c2-11 requirements, the Company will retain a PCAOB audit firm to perform the required audit for the Company to make application to OTCMarkets for OTCQB listing status in order to continue to increase shareholder value through increased business performance and marketplace disclosure.
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.
SOURCE Industrial Nanotech, Inc.
View original content:https://www.prnewswire.com/news-releases/industrial-nanotech-inc-provides-shareholder-update-regarding-sec-exchange-act-rule-15c2-11-301348309.html
SOURCE Industrial Nanotech, Inc.
FAQ
What is the deadline for Industrial Nanotech to comply with SEC Rule 15c2-11?
What steps is Industrial Nanotech taking to meet SEC compliance?
What listing status does Industrial Nanotech aim for after compliance?
Who is the CEO of Industrial Nanotech?
When did Industrial Nanotech last submit documentation for SEC compliance?
