Tampa, Florida--(Newsfile Corp. - October 27, 2020) - Umbra Companies, Inc (OTC Pink: UCIX) announced today that it has retained and directed Culhane Meadows, PLLC law firm to file its Form 10. The company anticipates the filing to be submitted to Securities and Exchange Commission (SEC) in the coming weeks as it finalizes internal accounting.
In keeping with Umbra Companies (UCI) commitment to transparency the company will continue to move towards more stringent reporting standards like those required on a regulated exchange such as the NYSE or NASDAQ. Moving forward UCIX shares will be registered pursuant to Section 12(g) of the Securities Exchange Act of 1934. UCIX currently trades as an alternative reporting company on OTC Markets.
Chief Executive Officer, Alex Umbra commented, "The team at UCI has always been focused on higher standards and this brings us one step closer to our objective. We are laying the foundation upon which to build a more solid future that will allow for future growth and improved shareholder value."
Building on this filing, Umbra Companies, Inc has begun executing a series of strategic initiatives to support and build upon its $527 million market cap. Upcoming announcements are set to outline the company's path forward as it navigates the current volatile markets.
In compliance with the Exchange Act, UCIX will now file its quarterly and annual reports, including its financial statements, on Form 10-Qs and 10-Ks with the SEC. Additionally, all current reports will be filed via a Form 8-K.
About Umbra Companies, Inc.:
The firm is located in Tampa Florida and focuses on advanced technologies across many disciplines. UCI is an investment holding company that invests in both public and private companies during the early stages of development as well as growth stages of companies with a synergistic business model to UCI subsidiaries.
For more information visit www.umbracompanies.com
NEITHER THE SECURITIES EXCHANGE COMMISION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees
that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Risks and uncertainties about Umbra Applied Technologies business are more fully discussed in the company's disclosure materials, including its MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Umbra Applied Technologies does not assume the obligation to update any forward-looking statement, except as required by applicable law.
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