The Alkaline Water Company Completes 2024 PCAOB Audit, Meeting Final OTCQB Uplisting Requirement
Rhea-AI Summary
The Alkaline Water Company (OTC: WTER) has announced the completion of its 2024 PCAOB audit, fulfilling a key requirement for its planned OTCQB uplisting application. The company plans to submit its comprehensive application package to OTC Markets in early February 2025, including the Form 15c2-11 filing.
CEO Ricky Wright highlighted this audit completion as a significant milestone in the company's strategic roadmap. The company is implementing enhanced corporate governance measures and structural improvements required for the upgraded listing tier, along with recent board appointments, as part of its strategy to regain its position as the nation's leading independent alkaline water company.
OTC Markets will facilitate the Form 15c2-11 process with FINRA on behalf of the company. The company commits to keeping shareholders informed of material developments regarding the OTCQB application process.
Positive
- Completed PCAOB audit for 2024, meeting key uplisting requirement
- Ready to submit OTCQB uplisting application in February 2025
- Implementing enhanced corporate governance measures
Negative
- Currently trading on lower-tier OTC market
- Requires regulatory approval for uplisting success
News Market Reaction
On the day this news was published, WTER gained 14.81%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SCOTTSDALE, Ariz., Feb. 04, 2025 (GLOBE NEWSWIRE) -- The Alkaline Water Company, Inc. (OTC: WTER -- hereinafter referred to as the "Company"), a leader in the beverage industry known for its purified alkaline water, enhanced with Himalayan rock salt, today announced the completion of its audited financial statements and related notes for the period ended December 31, 2024, by a PCAOB approved auditing firm.
With the completion of this crucial audit milestone, the Company has fulfilled a key requirement for its planned OTCQB uplisting application. The Company intends to submit its comprehensive application package to OTC Markets, Inc. ("OTC Markets") in early February 2025, which will include the Form 15c2-11 filing as part of the process.
"The completion of our 2024 PCAOB audit represents a significant achievement in our strategic roadmap," said Ricky Wright, CEO of The Alkaline Water Company. "This milestone enables us to move forward with our comprehensive OTCQB uplisting application. As part of the process, the OTC Markets will help facilitate the Form 15c2-11 process with FINRA on behalf of the company. The timing aligns perfectly with our broader corporate initiatives as we continue rebuilding The Alkaline Water Company's market presence."
"As we prepare our complete OTCQB application package, we are simultaneously implementing enhanced corporate governance measures and structural improvements required for the upgraded listing tier," continued Wright. "These steps, combined with our recent board appointments, demonstrate our commitment as we advance our strategy to once again become the nation's leading independent alkaline water company."
The Company will keep shareholders informed of material developments regarding the OTCQB application process as they occur.
**About The Alkaline Water Company, Inc.**
The Alkaline Water Company, Inc., are the developers of Alkaline88 - a purified alkaline water, enhanced with Himalayan rock salt and engineered for a smooth and delicious taste.
**Disclaimer Regarding Forward Looking Statements**
Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements.
Specifically, regarding our planned uplisting to OTCQB, there can be no assurance that the Company will be approved for uplisting by OTC Markets or that our Form 15c2-11 filing as part of this process will be accepted. The approval process involves meeting various qualifying criteria, including but not limited to, corporate governance standards, financial requirements, and ongoing disclosure obligations. The Company's ability to meet and maintain these requirements cannot be guaranteed. Additionally, even if approved, such uplisting may not result in increased liquidity or market visibility. We caution investors not to rely unduly on any forward-looking statements.
**Contact Information**
5524 North 51st Avenue
Glendale, Arizona 85301
Telephone: 480-582-3600
Website: www.thealkalinewaterco.com
Email: info@thealkalinewaterco.com
FAQ
What is the significance of WTER completing its 2024 PCAOB audit?
When will WTER submit its OTCQB uplisting application?
What steps is WTER taking to prepare for OTCQB uplisting?
How will the Form 15c2-11 process be handled for WTER's uplisting?
