I'll post again. We have 60 to 90 days for the audit and then 30 days to upgrade.
Jul 22, 2014 (ACCESSWIRE via COMTEX) -- Company to launch second website to promote Cannabis Dispensary Product
ST. PETERSBURG, Fla. / ACCESSWIRE / July 22, 2014 / Sylios Corp (otc pink:UNGS), a holding company with operations engaged in the exploration and development oil and natural gas properties, investments in equities and corporate debt and the development of products utilized in the medical and recreational marijuana industry is pleased to announce that the Company's Board of Directors has retained the services of Enrique Nowogrodzki, CPA and CPA Services Corp to audit the Company's fiscal years 2011-2013.
The recently initiated audit will facilitate Sylios Corp in becoming a fully reporting Company and uplisting to the OTCQB. Upon completion of the audit process, the Company will file a registration statement with theSecurities and Exchange Commission. The Company anticipates being fully reporting within the next 90 to 120 days.
Wayne Anderson, President of Sylios Corp, noted, "The Company is aggressively moving forward with implementation of our business plan. In an effort to maintain that growth pattern, we felt it was important that the Company become fully reporting. Once this effort is completed, we believe it will add shareholder value."
The Company's recently announced new corporate website is still in development by Equisolve. The Company delayed the initial launch so as to time its "going live" with the completion of a secondary website dedicated to its cannabis dispensary product. Both sites will be live in the very near future.
OTCQB Changes for SEC Reporting Domestic Issuers
SEC reporting issuers must meet the listing criteria below:
• Initial bid price of $0.01 as of the close of business for each of the previous 30 calendar days
• Complete and submit OTCQB Application and pay applicable fees
• Be current in all of the SEC’s periodic reporting requirements (or for companies not required to file on EDGAR, post SEC disclosure on the OTC Markets website)
• Post OTCQB Initial Certification Form (described below)
Ongoing OTCQB Reporting Requirements
• Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
• Post current SEC disclosures, or for companies that do not file on EDGAR, post current SEC disclosure on the OTC Markets website
• Post OTCQB Annual Certification
Defending the Republic
