Achieving Major Milestone Squarely Positions the Company for Uplisting to the OTCQB® Venture Market
ESCONDIDO, CA / ACCESSWIRE / March 15, 2022 / CB Scientific. Inc. (OTC PINK:CBSC) ("CBSC" or the "Company") announced today that MaloneBailey, LLP has successfully concluded its annual audit of the Company in accordance with Public Company Accounting Oversight Board standards, and consequently issued their favorable Auditor's Report on March 14, 2022.
"We are extremely satisfied to have achieved this critical milestone in the Company's concentrated effort to better position CBSC in the pursuit of our planned business objectives, including an uplist to the OTCQB® Venture Market (OTCQB)," said Charles Martin, Chief Executive Officer of CB Scientific, Inc. "Completing a PCAOB audit is one of many stringent requirements stipulated by the OTC MARKETS OTCQB application process, so having already addressed other stated conditions, we anticipate final approval to be forthcoming."
The Company believes that an uplist to the OTCQB will provide enhanced investor benefits, including more comprehensive compliance requirements, higher reporting standards, and greater access to analyst coverage.
"This significant accomplishment allows the Company to move forward with several previously announced corporate initiatives pursuant to the results of our recent Special Stockholder Meeting," said Paul Danner, Chairman of CB Scientific, Inc. "Based on the clear shareholder mandate delivered at the meeting in January, we are ready to move forward with our plans to implement a corporate name change which more accurately describes our business direction and future growth potential, relocate our corporate domicile to Nevada which provides superior tax laws and corporate regulations, increasing the number of our authorized common shares to facilitate essential fundraising aspirations, as well as certain other actions necessary to properly position us for a potential listing on the Nasdaq Capital Markets exchange at the appropriate point in the future."
As additional new developments occur, CB Scientific, Inc. plans to make timely announcements through press releases and regulatory filings to keep its shareholders, industry participants, and the public markets informed.
About CB Scientific, Inc.
CB Scientific, Inc., through its domestic and international subsidiaries, provides innovative products and services in the ambulatory non-invasive cardiac monitoring space. Our FDA and CE cleared EKG devices, interactive cloud-based acquisition software, and smartphone apps for both iOS and Android platforms provide improved compliance for patients at risk of abnormal heart rhythms, as well as more accurate information for physicians.
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SOURCE: CB Scientific, Inc.