KRTL Holding Group Inc. Advances in 15c2-11 Process with Court-Approved Shareholder Verification Initiative
- Court approval provides legal backing for shareholder verification process
- Initiative will help achieve SEC Rule 15c2-11 compliance and restore public market quotation
- Process will enhance corporate governance and shareholder record integrity
- Structured approach to resolve legacy shareholder issues could improve Rule 144 resale eligibility
- Risk of share cancellation for non-responsive shareholders
- 60-day verification window may be challenging for some legitimate shareholders to meet
- Current trading limitations remain until full compliance is achieved
- Process may reveal previously unknown shareholder base issues
Lakewood, CO, June 04, 2025 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE
KRTL Holding Group Inc. Advances in 15c2-11 Process with Court-Approved Shareholder Verification Initiative
KRTL Holding Group Inc. (OTC: KRTL) announces a significant advancement in its journey toward full compliance with SEC Rule 15c2-11.
Following a comprehensive review of legacy shareholder records predating KRTL’s acquisition and restructuring, the company has successfully obtained a court order from the Third Judicial District Court, Salt Lake County, Utah. This order authorizes KRTL to initiate a structured, court-supervised verification and remediation process of legacy shareholders.
Court-Approved Shareholder Verification Process
Under the terms of the court order dated May 27, 2025, KRTL has commenced a rigorous program to:
- Send certified, court-approved notices to shareholders listed in historical records, requesting verifiable proof of ownership.
- Provide a 60-day window for shareholders to submit acceptable documentation, including government-issued identification and proof of stock ownership.
- Petition for the cancellation of shares tied to non-responsive or unverifiable shareholders through judicial declaration.
- Allow for discretionary reissuance in cases where late verification is provided, maintaining corporate governance standards.
This proactive step is a major milestone in KRTL’s efforts to cleanse its shareholder records of fictitious or unverified entries—a critical component to comply with SEC Rule 15c2-11 which governs the public quoting of OTC securities, and to facilitate Rule 144 resale eligibility, which requires a clear chain of ownership.
What This Means for Our Shareholders and the Company
For current and prospective shareholders, this initiative ensures a more transparent and trustworthy shareholder base. By removing legacy uncertainties, KRTL strengthens its corporate governance and enhances the integrity of its shareholder records, providing a strong foundation for future growth and regulatory standing.
For KRTL, this action accelerates the company’s compliance efforts with FINRA and SEC requirements, moving it significantly closer to achieving full Rule 15c2-11 compliance, a key milestone in reestablishing public market quotation and increasing shareholder value.
Commitment to Transparency and Compliance
“This is a pivotal moment for KRTL Holding Group,” said Cesar Herrera, CEO of KRTL Holding Group Inc. “We are taking decisive action to ensure the accuracy of our shareholder records and to align our operations with the highest standards of regulatory compliance. By resolving these legacy issues, we aim to restore confidence in our shareholder registry and pave the way toward improved trading access and long-term value creation.”
About KRTL Holding Group Inc.
KRTL Holding Group Inc. (OTC: KRTL) operates through its wholly owned subsidiaries, KRTL Biotech Inc. and KRTL International Corp. The Company leverages strategic synergies across industries to pursue investments, mergers, and partnerships that deliver shareholder value. Focused on biotech, technology, and emerging market opportunities, KRTL Holding Group is committed to growth, innovation, and operational excellence.
Additional information on KRTL is available online at www.krtlholding.com and www.krtl-icc.com and www.krtlbiotech.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. Words such as "anticipates," "believes," "plans," "expects," "intends," "projects," "estimates," "future," and "opportunity" and similar expressions are used to identify these forward-looking statements. Forward-looking statements are not guarantees of future performance. These risks and uncertainties include, but are not limited to, changes in regulatory requirements, market conditions, and other factors described in the Company's filings. Additional information concerning risks and uncertainties that could materially affect KRTL’s business and financial results is included in the Company’s filings with the OTC Markets and, where applicable, the SEC. You should not place undue reliance on forward-looking statements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
www.krtlholding.com info@krtlholding.com www.krtlbiotech.com info@krtlbiotech.com www.krtl-icc.com info@krtl-icc.com
FAQ
What is the purpose of KRTL's court-approved shareholder verification process?
How long do KRTL shareholders have to verify their ownership?
What happens if KRTL shareholders don't respond to the verification notice?
How will KRTL's shareholder verification affect Rule 144 eligibility?
What documentation do KRTL shareholders need to provide for verification?
