Sibannac, Inc. (SNNC) Nears Completion of PCAOB Audit Preparations, Plans SEC Filing
Rhea-AI Summary
Sibannac (OTC Pink: SNNC) announced it is finalizing preparations for its PCAOB audit and plans to select a qualified auditor soon. Following the audit completion, the company intends to become fully SEC-reporting compliant, marking a significant milestone in transparency and investor confidence.
The company's business strategy focuses on acquiring companies across various industries, developing these subsidiaries, and eventually spinning them off as independent public entities. CEO David Mersky emphasized that this approach aims to maximize shareholder value while fostering innovation within each industry segment.
Positive
- Moving towards becoming a fully SEC-reporting company
- Final stages of PCAOB audit preparation
- Strategic business model focused on acquisition and spin-off of companies
Negative
- Currently trading on OTC Pink market, indicating lower tier listing status
News Market Reaction
On the day this news was published, SNNC declined 30.48%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Scottsdale, Arizona--(Newsfile Corp. - December 12, 2024) - Sibannac, Inc. (OTC Pink: SNNC), a visionary in the corporate development sector, today announced that it is in the final stages of preparing for its PCAOB audit. The company is poised to select a qualified auditor in the very near future to conduct this critical review.
Following the completion of the audit, Sibannac plans to become fully reporting with the U.S. Securities and Exchange Commission (SEC). This would mark a significant milestone for the company, transitioning it to a fully reporting status under the SEC regulations, thereby enhancing transparency and investor confidence.
"We are excited to be at this pivotal point in our company's journey," said David Mersky, CEO of Sibannac, Inc. "Securing a PCAOB audit will serve as a testament to our commitment to governance and financial integrity. This step is crucial as we prepare to expand our portfolio through strategic acquisitions across various industries."
Sibannac's business strategy includes acquiring companies in diverse sectors, nurturing these subsidiaries for growth, and eventually spinning them off as independent public entities. This approach not only aims to maximize value for shareholders but also to foster innovation and leadership within each industry segment.
"We see immense potential in leveraging our expertise to guide these companies from acquisition to public offering," added David Mersky. "Our goal is to create a dynamic ecosystem of high-growth companies that can stand on their own while contributing to our overarching mission of creating long-term shareholder value."
The company will announce further details regarding the selection of the auditor and the timeline for the SEC filing as they become available.
About Sibannac, Inc.
Sibannac, Inc. (OTC Pink: SNNC) is a Nevada corporation founded in 1999 and located in Scottsdale, Arizona. Sibannac, Inc. is a growth-oriented company focused on the acquisition, development, and eventual spin-off of businesses across multiple sectors. With a strategic approach to corporate development, Sibannac aims to unlock value and drive innovation across its portfolio.
Sibannac currently specializes in creating and selling premium next generation wellness products in the consumer packaging goods space. In addition to mainstream supplements, the Company is producing Kratom and Hemp-derived Delta-8/9 THC products for wholesale and retail sales and distribution. The company is vertically integrated, with product design, sales and marketing, all under the Sibannac umbrella. Sibannac has opened its platform to outside clients to offer its marketing and brand-building assets, through its wholly owned subsidiary, The Campus Co.
More from Sibannac - For additional information and product updates, please follow us at The Campus Co. and follow us on Twitter at www.twitter.com/sibannacinc. Media Contact: Media@snncinc.com. Twitter: @SibannacInc
Cautionary Note Regarding Forward-Looking Statements.
This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Sibannac, Inc. (the "Company"), its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. 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. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233480
FAQ
What is the significance of SNNC's planned PCAOB audit for investors?
How does SNNC's acquisition and spin-off strategy work?
When will SNNC complete its PCAOB audit?
What are the potential benefits of SNNC becoming SEC reporting compliant?
