LAS VEGAS, NV / ACCESSWIRE / March 13, 2019 / Centaurus Diamond Technologies, Inc. (the "Company" or "Centaurus") (CTDT:OTCQB)
The Board of Directors and Management wishes to update shareholders on several important matters.
The Company is fully engaged with our DTC sponsoring broker/dealer with respect to the removal of the DTC Chill in order to become DTC Eligible. The Company believes that the delay in achieving the removal of the Chill is related to the "Shell-Risk" status at the OTC. The Compliance Department at the OTC Markets Group attributed our shell-risk designation to our lack of revenue generation on our last audited financials. Centaurus has submitted all of the documentation requested by the DTC to its participating member. Management acknowledges that it has taken longer than anticipated and remains steadfast in our efforts to get the Chill lifted to become DTC Eligible. However, it will not hinder our revenue generating operations from commencing as scheduled.
In addition, we are in the process of relocating our R&D facilities in Pawtucket, Rhode Island to a more suitable and secure location in order to achieve the last milestones necessary before the commercialization of the Magnatech Process. The R&D is an evolutionary process and is expected to be finalized for commercialization by the end of the third quarter of this year.
The Company CEO and President Chas Radovich stated, "We greatly appreciate our shareholders' ongoing support as we get ready to become a revenue generating Company this year. We have begun executing the production and commercialization of our expanding portfolio of products. We are also in discussions for licensing agreements for Industrial and Electronic applications. The Directors and Management of our Company are confident in representing that we will be a sustainable going concern before the end of the year."
About Centaurus Diamond Technologies, Inc.
Centaurus has been established to fully commercialize its proprietary, cost-efficient and high-volume diamond production method to provide industrial quality diamonds. The Company’s patented technology enables the production of "cultured" diamonds that are chemically, atomically and structurally identical to natural diamonds. The Gemological Institute of America has tested the Company's "cultured" diamonds and has confirmed they are diamonds according to their testing protocols.
For more information please contact Chas Radovich at 714-323-1110 or via email at [email protected]
Forward Looking Information
Other than statements of historical fact, this release may contain descriptions of the Company's expectations regarding future business activities. These forward-looking statements are made in reliance upon safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Accordingly, actual results may differ materially from those contemplated by the forward-looking statements.
SOURCE: Centaurus Diamond Technologies, Inc.