POMPANO BEACH, Fla., Sept. 30, 2024 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC: BSEM) (“BioStem” or the “Company”), a leading MedTech company focused on the development, manufacture and commercialization of placental-derived biologics, announces the filing of a Form 10 registration statement (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) on September 27, 2024 to register its shares of common stock pursuant to the Securities Exchange Act of 1934, as amended, and reaffirms its strategic decision to pursue a listing on the Nasdaq Stock Market (“Nasdaq”).
Form 10 Filing:
Filing the Registration Statement marks a pivotal step in the Company’s strategy to uplist to Nasdaq. This filing reflects the Company’s ongoing commitment to transparency and strong corporate governance, providing investors with detailed insights into its operations and financial performance. Once the Registration Statement becomes effective 60 days from the filing date, BioStem will be a fully reporting company with the SEC, subject to quarterly, annual and other reporting requirements. BioStem expects that achieving full reporting status will not only enhance the Company’s credibility in the market but will also position The Company for greater visibility and access to capital, ultimately driving shareholder value as it pursues its growth objectives.
Compliance with Nasdaq Listing Requirements:
BioStem's plan to uplist to Nasdaq is contingent upon approval and meeting the necessary listing and regulatory requirements. The company’s common stock will continue to trade on the OTC market under the ticker symbol “BSEM” until BioStem is able to uplist to Nasdaq. BioStem is committed to maximizing shareholder value through listing on a major exchange, and Nasdaq provides a robust and efficient trading platform that offers increased visibility and liquidity opportunities for institutional and retail investors worldwide. In addition to filing the Registration Statement, BioStem recently announced that it has strengthened its compliance and reporting framework as part of the uplisting process by completing two years of audited financial statements.
Jason Matuszewski, CEO of BioStem Technologies, commented: “Our decision to pursue a major exchange listing marks a pivotal development during a period of continued revenue growth. Uplisting to Nasdaq aligns with our strategic initiatives to enhance market visibility, financial transparency and access to capital as we continue to expand through capital markets activities. BioStem is committed to driving revenue growth and market expansion for our products, and we will provide updates on our clinical trials and listing objectives as data becomes available. We look forward to working closely with Nasdaq and updating our stakeholders throughout this process as we pursue our listing objectives.”
About BioStem Technologies, Inc. (OTC: BSEM): BioStem Technologies, Inc. is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain® processing method. BioREtain® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. The Company’s quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks ("AATB"). These systems and procedures are established per current Good Tissue Practices ("cGTP") and current Good Manufacturing Processes ("cGMP"). Our portfolio of quality brands includes AmnioWrap2™, VENDAJE®, VENDAJE AC®, and VENDAJE OPTIC®. Each BioStem placental allograft is processed at the Company's U.S. Federal and Drug Administration (FDA) registered and AATB-accredited site in Pompano Beach, Florida. For more information visit biostemtechnologies.com and follow us on Twitter and Linkedin.
Forward-Looking Statements: Except for statements of historical fact, this press release also contains forward-looking statements. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate", "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this press release include statements regarding the Company’s: (i) ability to meet the listing requirements and successfully uplist to Nasdaq; (ii) ability to boost liquidity opportunities and advance its commercial and clinical initiatives; (iii) ongoing commitment to transparency and strong corporate governance; (iv) ability to promote credibility, increase visibility and access to capital while maximizing shareholder value; (v) growth objectives, including ability to expand through capital market activities, and the impact that may have on the Company’s business and financial condition and (vi) ability to sustain revenue growth and drive market expansion for the Company’s products. Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: the risk that the Company may be unable to list BSEM’s stock on Nasdaq or maintain compliance with Nasdaq’s continued listing standards; the impact of any changes to the reimbursement levels for the Company's products; the competition that the Company faces, which could adversely affect its business, results of operations and financial condition; rapid technological change could cause the Company's products to become obsolete and if the Company does not enhance its product offerings through its research and development efforts, it may be unable to effectively compete; the Company’s ability to convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; the risk that the Company may be unable to raise funds to expand its business; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; the Company's ability to maintain production of its products in sufficient quantities to meet demand and the fact that the Company derives a majority of its revenue from one distributor. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
BioStem Technologies, Inc.
Phone: 954-380-8342
Website: http://www.biostemtechnologies.com
E-Mail: info@biostemtech.com
Twitter: @BSEM_Tech
Facebook: BioStemTechnologies
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
646-863-6893
