Virginia Beach, VA- BIOFORCE NANOSCIENCES HOLDINGS, INC. (BFNH: OTCMARKETS) announces that the US SEC regulators approved the Company’s FORM 10 registration under the 1934 Exchange Act (“Act”).
As of August 1, 2018 the Company is fully transparent and filing reports within the rules/regulations required of the 1934 Act.
The US SEC approval of the Company under the “Act” shows, under federal rules/regulations, that BFNH meets the necessary statutes per financial auditing and disclosures standards. Being a “34 Act” entity allows the Company certain benefits which were not attainable otherwise. As such, brokerage houses, national stock exchanges, and other financial institutions require publicly traded entities to be a “34 Act reporting” issuer for trading and listing requirements. Shareholders who own 144 restricted shares can now register their holdings as “free-trade” after a 6-month holding time verses that of 1-year for non-reporting status.
The Company’s shareholders can be assured that the arduous process and cost of becoming fully-reporting was an important fiduciary responsibility of BFNH’s board and management team.
Management believes in a productive future ahead, and being a fully-reporting entity now allows BFNH to negotiate future acquisitions with reasonable terms. BFNH’s management team continues to aggressively look at a number of unique businesses operations with acquisition intentions.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competitions.