SPO Networks, Inc. (OTC:SPOI) Resumes Trading On OTC:PINK
Rhea-AI Summary
SPO Networks, Inc. (OTC PINK:SPOI) has regained its current status on OTC Markets, eliminating its previous 'shell company' designation. This change follows the company's recent filings, which provide adequate public information, allowing quote resumption. The shell designation was lifted effective March 1, 2021, after asset acquisitions. SPOI is actively exploring diverse industries, including cannabis, waste management, and recycling, aiming for expansion in cannabis cultivation and retail operations. The company emphasizes providing quality cannabis products for both medical and recreational use.
Positive
- Regained current status on OTC Markets, improving investor confidence.
- Removed shell company designation, signaling operational legitimacy.
- Exploring acquisitions in diverse industries, enhancing growth potential.
- Plans for expansion in cannabis cultivation and retail operations.
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The Company Has Recently Provided The OTC Markets The Adequate Current Information Required; The Previous "Shell" Designation Was Also Removed
FARMINGTON, AR / ACCESSWIRE / June 21, 2021 / SPO Networks, Inc. (OTC PINK:SPOI) ("SPOI" or the "Company"), today announced that the Company has recently become current in its filings and the OTC Markets has resumed displaying the Company's security's quotes, signifying that the issuer (SPOI) has now, in the opinion of the OTC Markets, made available the required adequate current information.
The Company recently filed an Attorney Letter, which stated in part:
"The Information (i) constitutes "adequate current public information" concerning the Securities of the Issuer and "is available" within the meaning of Rule 144(c)(2) under the Securities Act of 1933, as amended, (ii) includes all of the information that a broker-dealer would be required to obtain from the Issuer to publish a quotation for the common stock under Rule 15c2-l1 under the Securities Exchange Act of 1934, as amended, (iii) complies as to form with the OTC Markets Group's Pink Basic Disclosure Guidelines, which are located on the internet at www.otcmarkets.com, and (iv) has been posted in the OTC Disclosure and News Service…
The Issuer was designated as a "shell company" (as defined in Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Exchange Act of 1934) during the year ended December 31, 2018, the year ended December 31, 2019, and the year ended December 31, 2020. The designation as a "shell company" was removed from the Issuer's Disclosure Statement and Quarterly Report for the three months ended March 31, 2021. The removal of the "shell company" designation was effective as of March 1, 2021, following the acquisition of certain assets as announced through OTC Disclosure & News Service on March 15, 2021."
To see the Attorney Letter go to: https://backend.otcmarkets.com/otcapi/company/financial-report/285145/content.
SPO Networks, Inc.
SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation. Additionally, SPO maintains the belief that patients and customers have a right to high quality, economical, and clinically-validated cannabis products. Towards this, SPO aims at medical and recreational cannabis and genetic seed operations with the expectation of rapid expansion in the cannabis industry. SPO is developing its cultivation facilities for extraction operations, wholesaling of cannabis and cannabis extracts in Colorado to licensed retailers and wholesalers. Eventually, the goal is to expand to retail product manufacturing and dispensary operations in several states, allowing SPO to offer a pricing strategy that will be attractive to consumers large and small.
For more information, please go to: https://www.spoinow.com.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. 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 our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume 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.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SPOI/disclosure.
Contact:
www.spoinow.com
479-443-6000
info@spoinow.com
SOURCE: SPO Networks, Inc.
View source version on accesswire.com:
https://www.accesswire.com/652482/SPO-Networks-Inc-OTCSPOI-Resumes-Trading-On-OTCPINK