MIAMI, FL, Sept. 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Lans Holdings Inc. is pleased to announce that it has successfully secured a 180-day extension to complete the acquisition of 100% of Global Stem Cells Group Inc (GSCG).
On Friday September 6, 2019, trading in the company’s stock was suspended due to a missed communication regarding the pending delinquent annual filings. Company management has had several discussions with the SEC and has determined that an old address is the cause for the missing paperwork. The Company has agreed to enter into a settlement with the SEC, which will result in the deregistering of the Company’s shares. Company management had been working with its auditors, accounting staff and outside consultants for the past few months to bring the Company’s filings current when the Company learned of the revocation. The Company intends to now file a form 10 to reregister its common shares with the SEC and to locate a market maker to sponsor the Company in a 211 filing to reinstate trading of the Company’s shares.
“We regret the concern this put on the market, and especially the delay in communication of these events, as we had to ensure that we had accurately secured all of the necessary agreements to successfully recover from this disruption,” said Dave Christensen, CEO of Lans Holdings. “We have been working diligently on catching up all records and we are looking forward to quickly submitting a Form 10, and then closing the acquisition.”
This press release should be read in conjunction with all other filings on www.sec.gov
For more information on Global Stem Cells Group please visit: www.stemcellsgroup.com