Under the Symbol:
Fastbase, Inc. plans to Become an SEC Reporting Company
Wednesday, November 20, 2019 5:25 AM
NEW YORK, NY / ACCESSWIRE / November 20, 2019 / Fastbase Inc. (OTC: FBSE) ("the Company") is proud to announce the completion of a Reverse Takeover Transaction and its plans to become an SEC reporting Company. The company has completed this reverse takeover on the OTC markets by merging all the assets of Fastbase Inc. into an existing public company and this resulted in one surviving company called Fastbase Inc. with the ticker code OTC: FBSE.
Furthermore, the company is pleased to announce its plans to become an SEC reporting company. This includes filing audited financial statements.
The Company intends to begin complying with the periodic reporting requirements of the Securities Exchange Act which will furnish Fastbase Inc. stockholders with annual reports containing audited financial statements and quarterly reports containing financial statements.
Rasmus Refer, CEO states "This will speak to our commitment to apply the highest standards of compliance and governance in our Company and to become a fully reporting SEC Issuer filing timely reports with the SEC. This should also signal to investors that we plan to focus our efforts on transparency in our day-to-day operations by regular reporting as well as improved communications with our shareholders."
The company can focus on the process to uplist to the OTCQB Venture Market and subsequently apply for DTC Eligibility for our common shares traded under FBSE in the U.S. markets. Acquiring DTC Eligibility could greatly increase our liquidity over time so that both U.S. and International investors can participate in our growth. DTC eligibility could also lower the cost of trading securities for investors and help increase exposure to financial institutions and market makers worldwide.
The Depository Trust Company (DTC), one of the world's largest securities depositories, is based in New York City and provides safekeeping through electronic record-keeping of securities balances. DTC eligibility means that a public company's securities can be deposited through DTC.
The potentialbenefits of being DTC Eligible include:
- Increased ease of trading the Company's securities
- Lower trading costs
- Improved liquidity in the Company's securities
On behalf of the Company's Senior Management team, Board of Directors and employees, we would like to thank our long-term shareholders for being part of our continuing transformation.
About Fastbase, Inc.
Fastbase Inc. is a Delaware/Nevada-registered web and database analytics company that offers a growing suite of tools to support B2B marketing and sales. The Fastbase platform gathers and displays detailed information on website visitors, including the name of the company, contact information, email addresses and LinkedIn profiles. Fastbase's success has been facilitated by its seamless integration with Google Analytics. Its platform can identify website visitors in real-time providing business customers with powerful insights into their website users' behavior. The Fastbase Webleads software combines a website's analytics data with real-time visitor information, allowing customers to minimize the guesswork around who is visiting their website. WebLeads is a freemium Google Analytics add-on that provides a company's visitor information for the past 90 days with all data available for download to CSV and Excel formats. Fastbase customers that use Google Analytics can easily access a detailed list of their website visitors for the past 12 months. Fastbase analyses over 8-10 billion website visitors each month from over 1,000,000 companies and top brands around the world.
This release may contain forward-looking statements regarding projected business performance, operating results, financial condition and other aspects of the company, expressed by such language as "expected," "anticipated," "projected" and "forecasted." These statements also include estimates of the pace of customer adoption, customer usage, and software development. Please be advised that such statements are estimates only and there is no assurance that the results stated or implied by forward-looking statements will actually be realized by the company.
Forward-looking statements may be based on management assumptions that prove to be wrong. The Company's predictions may not be realized for a variety of reasons, including due to competition, customer sales cycles, and engineering or technical issues, among others. The Company and its business are subject to substantial risks and potential events beyond its control that would cause material differences between predicted results and actual results, including the company incurring operating losses and experiencing unexpected material adverse events.
Chief Executive Officer
SOURCE: Fastbase Inc.