Emergent Intends to Become a Fully Reporting SEC Issuer and List its Shares on the OTCQB
NEW YORK, NY / ACCESSWIRE / January 10, 2023 / Emergent Health Corp. (OTC PINK:EMGE), a curator, developer and marketer of products in the Regenerative Health Space announced today that it intends to retain an independent certified public accountant to audit Emergents financial statements in accordance with Securities and Exchange Commission (“SEC”) Generally Accepted Accounting Principles (“GAAP”) and an experienced Securities Attorney to prepare and file either Form 10 or Form S-1 Registration Statement with the SEC to become a fully reporting SEC Company subject to the filing requirements of Section 15(d) of the Securities Exchange Act of 1934. This action is fundamental to the Company’s efforts to demonstrate heightened transparency to its investors and bring the Company greater visibility and credibility before a substantially larger group of qualified investors. The Company hopes to file either Form 10 or Form S-1 during the 3rd quarter of 2023.
Additionally, Emergent is planning to up-list to the OTCQB. In order to qualify for listing, Emergent must (1) have audited annual financials by a PCAOB auditor (2) meet minimum bid price test of $0.01 per share (3) not be in bankruptcy (4) have at least 50 Beneficial Shareholders, each owning at least 100 shares and (5A) have a freely traded Public Float of at least 10% of the total issued and outstanding shares or (5B) have a freely traded Public Float of at least 5% and $2 million in market value of public float. The Company hopes to file for listing on the OTCQB also during the 3rd quarter of 2023.
Jim Morrison, Former President of L’Oréal and current CEO of Emergent stated “We believe we’re developing a business model deserving a stronger presence in the financial markets. Since I became CEO in August 2022, we’ve had consecutive strong revenue gains quarter-to-quarter and increased our market share with the plan to pick up the pace and continue. We’re now poised and ready to become a fully reporting SEC Company. Our continued growth, transparency by audit and the requirements set forth as a fully-reporting SEC company, sets the stage for significant opportunities for Emergent Health and its shareholders.”
The OTCQB market contains a one penny ($0.01) bid price requirement “intended to remove companies that are most likely to be the subject of dilutive stock fraud schemes and promotions”. Each company verifies via an annual OTCQB Certification, signed by the company CEO or CFO, that their company information is current, including information about a company’s reporting status, company profile, information on management and boards, major shareholders, law firms, transfer agents, and IR / PR firms. Investor confidence improves when there is more information about a company’s ownership structure, professional advisors and service providers. This certification will be required for any security newly qualified to be publicly quoted by a broker-dealer under SEC Rule 15c2-11, or when a Pink traded company becomes a current SEC reporting company, beginning May 1, 2014. International Reporting companies are also allowed to upgrade from Pink to OTCQB if they publish their 12g3-2(b) compliant disclosure online and verify their company profile. There is an annual fee for the OTCQB market of $10,000 per year and a one-time $2,500 application fee.
ABOUT (“PCAOB”) PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD
The Public Company Accounting Oversight Board (PCAOB) is a private-sector, nonprofit corporation created by the Sarbanes-Oxley Act of 2002 to oversee the audits of public companies and other issuers in order to protect the interests of investors and further the public interest in the preparation of informative, accurate and independent audit reports.
ABOUT EMERGENT HEALTH CORPORATION
Emergent curates, develops and sells products in the Regenerative Health Space. Its products comprise of ingestibles as well as topicals for the whole family. The company distributes its products online and through Content Based Shopping using Influencers to position products in their produced content throughout the United States and Internationally. Its subsidiaries; PharmaZu, is a pure play, e-commerce products and service provider focused on the Pet Community, Pet Pharmacy and Pet Wellness using Influencers and their content, including the pet pharmacy, vet telehealth and pet wellness businesses; Regen BioWellness, is a distributor of various products in the plant-based and regenerative medical fields. Evolutionary Biologics, is a new kind of biologics company founded for a clear purpose: bring cutting edge regenerative products to the medical community. Emergent does not claim any of its products are approved by the FDA to diagnose, treat, cure or prevent any disease. For more information, please visit Emergent’s Website and Social Media on Twitter and Linkedin.
Before using any products, you should always consult with your veterinarian and/or family doctor.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
FOR MORE INFORMATION, PLEASE CONTACT:
Jim Morrison, CEO
SOURCE: Emergent Health Corp.
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