ILUS Confirms Its Form 10 Effectiveness and SEC Reporting Status
December 20 2022 - 1:52PM
InvestorsHub NewsWire
NEW YORK, NY -- December 20, 2022 -- InvestorsHub NewsWire --
ILUS International Inc. (OTC:
ILUS) is a Mergers and Acquisitions company focused on
acquiring and growing public safety and industrial companies across
the globe. The company filed its Form 10 Registration
statement with the U.S. Securities and Exchange Commission (the
"SEC") on the 19th of October 2022 and following one filed
amendment, the Form 10 became effective on the 19th of
December 2022.
ILUS is now subject to the reporting requirements of the
Securities Exchange Act of 1934, as amended, and will begin filing
its periodic reports with the SEC on Form 10-K, quarterly reports
on Form 10-Q, current reports on Form 8-K, and subjected itself to
additional reporting obligations related to proxies, shareholder
actions and stock ownership rules. The company’s profile on OTC
Markets is expected to update to SEC reporting approximately within
a week.
John-Paul Backwell, Managing Director of the Company, said,
"Following through on our planned objectives, we are pleased to
announce that our Form 10 is effective, and we are now a fully SEC
reporting company. This has always been an important regulatory
milestone and essential step for us in giving our Shareholders and
Investors a transparent portal into our business.”
Now that the Form 10 is effective, ILUS is eligible to up-list
to the OTCQB® Venture Market. The company believes that trading on
the OTCQB is another important milestone, enhancing the company’s
visibility to a much larger group of Investors. Therefore, the
application will be submitted to OTC Markets as soon as possible
with the intent to submit before year end. ILUS will also be
submitting its application to FINRA for its name change
to ILUS International Inc. Both of the applications typically
take 60-90 days but could take as long as 180 days.
About the OTCQB
The OTCQB® Venture Market is the premier marketplace for
entrepreneurial and development stage US and international
companies that are committed to providing a high-quality trading
and information experience for their US investors. To be eligible,
companies must be current in their financial reporting, pass a
minimum bid price test, and undergo an annual company verification
and management certification process. The OTCQB quality standards
provide a strong baseline of transparency, as well as the
technology and regulation to improve the information and trading
experience for investors.
For further information on the companies, please see their
communication channels:
Website: https://ilus-group.com
Twitter: @ILUS_INTL
Contact:
Email: IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or result expressed or implied by such
forward-looking statements. Although forward-looking statements
contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. The Securities and Exchange Commission ("SEC") has
provided guidance to issuers regarding the use of social media to
disclose material non-public information. In this regard, investors
and others should note that we announce material financial
information via official Press Releases, in addition to SEC
filings, press releases, Questions & Answers sessions, public
conference calls and webcasts also may take time from time to time.
We use these channels as well as social media to communicate with
the public about our company, our services, and other issues. It is
possible that the information we post on social media could be
deemed to be material information. Therefore, considering the SEC's
guidance, we encourage investors, the media, and others interested
in our company to review the information we post on the following
social & media channels:
website: https://ilus-group.com Twitter:
OTC_ILUS
Note: ILUS Coin does not sit within ILUS International Inc
(Ilustrato Pictures International Inc), so the public are
recommended to follow the correct Media Channels relating to the
public company OTC: ILUS
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