SALT LAKE CITY, Sept. 11, 2017 (GLOBE NEWSWIRE) -- Predictive Technology Group, Inc. (OTCPINK:PRED) proceeds with the evaluation of moving the Company’s trading status to OTCQB on OTC MARKETS.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/43bf0c1d-b26b-4860-bc3f-88cac88bd952
Management determined the “NEW” Alternative Listing Standards which became available to issuers could be prudent, saving time and cost effective objective to uplift PRED’s tradable shares.
Effective May 18, 2017, the OTC Markets amended its rules for the OTCQB qualification which allows the issuers that follow “Alternative Reporting Standard.” The new standard for OTCQB for alternative reporters now allows a company to file 1-year audited financial reports. These reports are to US GAAP standards through a PCAOB qualified auditor. A company must still maintain a bid price of $0.01 per shares, needs a board of directors with at least two independent directors, and an audit committee comprised of a majority of independent directors.
OTC MARKETS believes these updated rules for OTCQB provides non-SEC Reporting companies with the benefits of public trading while lowering the cost and complexity of being public. The new market standards give “Alternative Reporting” companies an efficient way to raise their profile among the investor and broker dealer communities, access greater liquidity, and trade on a SEC-recognized market. Thus, removing the trading restrictions placed on “Pink” market securities.
Based on these news standards, PRED’s management remains confident that uplifting to the OTCQB can be done timely. Once management and the board at PRED finish their due diligence on OTC MARKETS’ “ALTERNATIVE REPORTING STANDARDS,” expect more news to follow.
Management continues on its fiduciary path with a primary objective of creating shareholder value.
About Predictive Technology Group, Inc.:
Predictive Technology Group, Inc. (OTCPINK:PRED), through its wholly owned subsidiaries, revolutionizes the treatment of serious and debilitating diseases through the commercialization of novel therapeutics leveraged by proprietary gene-based companion diagnostics. The Company develops and acquires proprietary technologies that open windows into the origin of human disease and the role that genes and their related proteins play in diseases' onsets and progressions. PRED's subsidiaries use gene-based information as cornerstones in the development of new diagnostics that assess a person's risk of disease and therapeutic products effectively designed to prevent and treat diseases.
To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting FDA approvals, acceptance and demand for new vaccines and other pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, availability of additional intellectual property rights, availability of future financing sources, the regulatory environment and other risks the Company may identify from time to time in the future.