iamthe walrus
3 days ago
I was looking for any info on Coretecs new CEO Antti Uusiheimalas restructuring, asset purchase and a Series A financing to a Japanese battery manufacturing company planning to restructure its operations to the U.S. as was stated in the 8K when he was named CFO . I did find a company in Tokyo called MK PLUS, i think is private, battery company in Japan https://mkpl.co.jp/en/ . Antti Uusiheimalas is the CFO of a company called MK Plus Americas in August 2022 to Present according to this site https://contactout.com/Antti-Uusiheimala-11299496. ( Antti Uusiheimala
Chief Financial Officer at MK Plus Americas in August 2022 to Present )
I couldnt find where this company MK Plus Americas is located as of yet or any details . The question i had is will Coretec have any involment with this company out of Japan that Coretec CEO Antti Uusiheimalas led the restructuring of . MK PLUS doesnt appear to be a manufacturing plant but a developer batteries ,of specifically Solid State Batteries. But its interesting that he is CFO of a company with basically the same name MK Plus Americas. which in general could just refer to America but typically means North ,South and Central America . Ill keep digging to see what company he might have been involed with and try to find where MK Plus Americas is based . I tried Virginia at the Sec of State site but didnt see anything yet
https://investors.thecoretecgroup.com/node/8626/html
From 2015 to 2024, Mr. Uusiheimala served as Managing Partner at Halifax Partners, where he advised early and growth-stage companies and acted as a board member and CFO / CEO. He recently led the restructuring, asset purchase and a Series A financing to a Japanese battery manufacturing company planning to restructure its operations to the U.S. He has developed financial models, valuations, and strategic plans across SaaS, manufacturing, and consumer goods industries.
iamthe walrus
4 days ago
Oklahoma needs change and Prayer as well. Ive worked with those with Drug addictions especially heroin addictions and of course Fentanyl is a huge problem today. Also all the criminal related matters with those who are addicted are broad in scope and branch out in areas you wouldnt think about including the badly addicted ive know who start selling the stuff they use to get fast tracked to getting ahead financially to pay rent , bills their kids stuff , its crazy what you see. Those things cost a lot of money on attorneys if not given a court appointed attorney , bail money ( usually other personal associates money ) , court costs and fees , loss of time . Its not all the drugs funneling into Oklahoma that is the problem the problem is people buy the drugs and use them for whatever reason they get started on using . If there was no demand then nobody tries to sell it here problem is people use drugs and then cant quit . . But the demand is large because once started the users have a hard time saying no until they OD . I worked with one person that took 12 years for them to get clean and get a job after over 25 arrests for multiple things . Now , on federal parole for a few more years , they have a great income at a manufacturing plant and get profit sharing in the company and got all there kids back . Now getting the body healthy again is a huge focus as the drugs did a lot of damage but that can be done . I dont believe the casinos are a blessing to the State ..money and gambling dont bring people to God . A former work asssociate who spent a lot of time at those gambling houses jut shot himself about 3 months ago . He had an addiction problem and i knew it and didnt get involved enough ..the thought came to me several times to go see him and i didnt , now its to late ..There is a place of victory for those ive seen it multiple times and we need to see it for more and prevent others from using and deliver those who are using ...ultimately to a place of salvation in Jesus who said :
“The Spirit of the Lord is upon me, because he hath anointed me to preach the gospel to the poor; he hath sent me to heal the brokenhearted, to preach deliverance to the captives, and recovering of sight to the blind, to set at liberty them that are bruised,”
When you say pray for Oklahoma Pray and take action get involved as so many are lost , addicted , depressed and hopeless right here in our State .
Its Like Andraé Crouch sang , Jesus Is The Answer For The World Today
Above Him There's No Other Jesus Is The Way !
Juststoppingby
4 days ago
THer are several issues not just one that has led late filings ,RECENT CORPORATE TRANSACTIONS that includes the Series D share exchange transactions and also but not limited to ALL transactions the company is going through to grow the company through ALL the transactions .
The only corporate transactions that need to be in the third quarter 10-Q, which ended September 30th, 2024, are those that happened before that date, like the merger; anything after that won’t apply. The most time-consuming part is converting and consolidating Core Optics Co., Ltd., a Republic of Korea corporation's financial accounting data (Just like they said in the 8K November 14 highlighted below.) Mergers take time but are more time-consuming when they include foreign companies/subsidiaries.
Core Optics, LLC and Core SS LLC are already US corporations, and they have the same counting standards as Coretec, making consolidation less time-consuming.
From 8-K Nov 14, 2024, Schedule I
Risk Factors
“To maintain our “current” reporting status with the SEC, we are required to file our Form 10-Q for the quarter ended September 30, 2024, within the SEC’s prescribed timeline. However, due to complexities arising from the recent share exchange, as well as delays in preparing and consolidating prior annual and quarterly financial statements, there is a risk that we may be unable to file this quarterly report on time or be able to regain compliance.”
If they started consolidating in April 2024, it might be a month earlier. They are in the 10th or 11th month.
I have read the whole 8K. Well, let me rephrase it: I lay back, closed my eyes, and let the computer read it to me. I see and hear the big and small picture, positive and negative, and dream about how high the stock price will go. 😊
iamthe walrus
5 days ago
Antti Uusiheimala is listed at OTC Markets as Coretecs CEO https://www.otcmarkets.com/stock/CRTG/profile . The Best is yet to Come CRTG !! Takin it to the TOP
Its Beautiful , You can see whats great things are happening here at The Coretec Group ...Its all so Beautiful , These guys are doing a Great Job
Uusiheimala, with a strong background in capital markets and corporate finance, has a proven track record in private placements, IPOs, and mergers and acquisitions. His experience spans various industries, including SaaS and manufacturing, and he has held significant roles at Halifax Partners and Vision Capital. With his expertise, Uusiheimala is set to drive The Coretec Group’s financial and strategic growth.
And Neil Kleinman the new CFO of Coretec currently works at as he is listed with Ralph F. Lafferty according to FINRA https://brokercheck.finra.org/individual/summary/2317112.
Also Neil Kleinman https://rocketreach.co/neil-kleinman-email_13897081
Ralph F. Lafferty is https://www.rflafferty.com/ at 40 Wall Street based on their address https://www.40wallstreet.com/ 40 Wall Street is : THE TRUMP BUILDING
https://www.40wallstreet.com/our-story/
The Coretec Group new Team Roster listed at OTC Markets
COMPANY OFFICERS & CONTACTS
Antti Uusiheimala
CEO
Jung Min Lee
COO
Neil Kleinman
CFO
Youngsun Yoo
VP, Fin., Advisor
Lindsay McCarthy
Director, Ops.
BOARD OF DIRECTORS
Elbert Michael Ussery
Chairman
Seonkee Kim
Vice Chairman
Birge Watkins
Vice Chairman
Victor F. Keen
Independent Director
David Lee
Jung Min Lee
Robert McCollar
iamthe walrus
5 days ago
An example of a company that did an IPO and listed on the Nasdaq ..This is from a news release from R.F. Lafferty the company i think that Neil Kleinman the new CFO of Coretec currently works at as he is listed with Ralph F. Lafferty at FINRA https://brokercheck.finra.org/individual/summary/2317112.
Ralph F. Lafferty is listed as a Broker / Dealer https://www.rflafferty.com/ at 40 Wall Street based on their address https://www.40wallstreet.com/ 40 Wall Street is : THE TRUMP BUILDING
https://www.trump.com/commercial-real-estate-portfolio/40-wall-street he majesty of New York’s financial district and the style and elegance of Trump come together to create an incredibly impressive, landmark property at 40 Wall Street.
CONTACT
Ralph F. Lafferty
40 Wall Street
27th Floor
New York, NY 10005
212.293.9090
Janover Inc. Announces Pricing of $5.65 Million Initial Public Offering and Nasdaq Listing https://www.rflafferty.com/janover-inc-announces-pricing-of-5-65-million-initial-public-offering-and-nasdaq-listing/
BOCA RATON, Florida, July 24, 2023 (GLOBE NEWSWIRE) — Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch, today announced the pricing of its initial public offering of 1,412,500 shares of common stock at a public offering price of $4.00 per share for aggregate gross proceeds of approximately $5.65 million, prior to deducting underwriting discounts, commissions, and other offering expenses.
In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 211,875 shares of common stock at the initial public offering price, less underwriting discounts and commissions to cover over-allotments, if any. The offering is expected to close on July 27, 2023, subject to customary closing conditions.
In connection with the offering, Janover has received approval to list its shares of common stock on the Nasdaq Capital Market, with the shares expected to begin trading on July 25, 2023 under the symbol “JNVR”.
Janover expects to use the net proceeds from the offering primarily to fund the development of new products and improvements to existing products; expand sales and marketing capabilities; and for general corporate purposes, including capital expenditures and working capital.
Spartan Capital Securities, LLC and R.F. Lafferty & Co., Inc. are acting as joint book-running managers for the offering.
A registration statement on Form S-1, as amended (File No. 333-267907), was filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on July 24, 2023. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from Spartan Capital Securities, LLC, 45 Broadway, New York, NY 10006, or by telephone at (877) 772-7818.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
iamthe walrus
5 days ago
The bigger issue this is as it was stated in the 8K Nov 14th . Corporate structure reorganizing takes time so they are late in filing . Its that simple ..Its a number of issues not just one THer are several issues not just one that has led late filings ,RECENT CORPORATE TRANSACTIONS that includes the Series D share exchange transactions and also but not limited to ALL transactions the company is going through to grow the company through ALL the transactions . Thios is not just one issue of translating financials from Korean to English . You have to read and re read the entire 8K to get the bigger picture of what Coretec is doing . This is all about putting together a much bigger company building revenue through these recent transactions like the acqiusition of Kib Plug Energy and the merger to Core Optics ) Core Optics SS LLC and our subsidiary Core Optics Co Ltd in Korea(through share exchange agreement ,) and building a Giga Battery manufacturing plant and getting an uplisting to the Nasdaq. . The series D share agreements have had a huge impact on the delay of the filing of the 10K according to the filng of the 8K. Its all these issues Coretec is working through .
All; the info on why they are late is in this Nov 14th 8K. There are numerous references about late filings with the SEC being a probability due to the complexities of the Series D offerings ..Its referenced throughout the 8K below ..So how long is to long. ???
https://investors.thecoretecgroup.com/node/8586/html
(e) SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (the “Exchange Act”), including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”) and when filed, each SEC Report was in compliance in all material respects with the requirements of its report form, the Exchange Act and the Securities Act. The Company represents that it will use commercially reasonable efforts to comply with its reporting obligations under the Exchange Act. However, due to complexities resulting from recent corporate transactions, including the share exchange, there is a risk that certain future filings may not be timely. Please refer to the Risk Factors set forth on Schedule I for further information.
In the event of any delayed filings, the Company will take all reasonable steps to rectify its reporting status and maintain its “current” reporting status with the SEC as soon as possible. The Company acknowledges that untimely filings may impact its eligibility to use certain forms, including Form S-3, for registration and capital-raising purposes. The Company further represents that, to the best of its knowledge, all proxy statements, reports, registration statements, schedules, forms, and other documents required to be filed with the SEC after the date hereof and through the relevant Closing Date will, if and when filed, comply in all material respects with the requirements of the Exchange Act and the Securities Act, and will not, at the time of filing, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.
Notwithstanding any failure by the Company to file any proxy statement, report, registration statement, schedule, form, or other document in a timely manner, such failure shall not constitute a breach of this Section 7, provided that the Company exercises commercially reasonable efforts to correct any such delays and maintain “current” reporting status with the SEC.
The Company acknowledges that, due to recent corporate transactions and related complexities, there may be risks of delays in preparing and filing future financial statements. The Company represents that it will exercise commercially reasonable efforts to prepare and file such financial statements timely and in compliance with GAAP and SEC rules. Except as disclosed in the SEC Reports, no information provided by or on behalf of the Company to the Purchaser which is not included in the SEC Reports contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein not misleading, in light of the circumstances under which they were made. The Company is not currently contemplating to amend or restate any of the financial statements (including, without limitation, any notes or any letter of the independent accountants of the Company with respect thereto) included in the SEC Reports (the “Financial Statements”), nor is the Company currently aware of facts or circumstances which would require the Company to amend or restate any of the Financial Statements, in each case, in order for any of the Financials Statements to be in compliance with GAAP and the rules and regulations of the SEC. However, the Company acknowledges that, due to the complexity of recent transactions, adjustments or additional disclosures could be necessary, which may impact the timing of future filings. Please refer to the Risk Factors set forth on Schedule I for further information.
Schedule I
Risk Factors
As a public reporting company, we are subject to filing deadlines for reports that we file pursuant to the Exchange Act, and our failure to timely file such reports may have material adverse consequences on our business.
To maintain our “current” reporting status with the SEC, we are required to file our Form 10-Q for the quarter ended September 30, 2024, within the SEC’s prescribed timeline. However, due to complexities arising from the recent share exchange, as well as delays in preparing and consolidating prior annual and quarterly financial statements, there is a risk that we may be unable to file this quarterly report on time or be able to regain compliance. Failure to meet this deadline could result in a loss of our current filer status. Even when we regain status as a current filer by filing timely reports with current financial statements, we will not be eligible to use a registration statement on Form S-3 that would allow us to continuously incorporate by reference our SEC reports into the registration statement, or to use “shelf” registration statements to conduct offerings, until approximately one year from the date we regained (and maintain) status as a current filer. Until such time, if we determine to pursue an offering, we would be required to conduct the offering on an exempt basis, such as in accordance with Rule 144A, or file a registration statement on Form S-1. Using a Form S-1 registration statement for a public offering would likely take significantly longer than using a registration statement on Form S-3 and increase our transaction costs, and could, to the extent we are not able to conduct offerings using alternative methods, adversely impact our liquidity, ability to raise capital or complete acquisitions in a timely manner. The use of Form S-1 would also prevent us from conducting offerings on a “shelf basis,” limiting our flexibility as to the terms, timing or manner of any such offering.
We cannot guarantee that in the future our reporting will always be timely. If we are unable to satisfy SEC filing deadlines or otherwise provide disclosures of material information on a timely basis, stockholders and potential investors in our Common Stock may have incomplete information about our business and results of operations, which may impact their ability to make an informed investment decision, result in a reduction in the trading price, trading volume or analyst coverage of our Common Stock or expose us to potential liability.
Bullish
BULLISH
Juststoppingby
5 days ago
I'm talking more about foreign corporate transactions like assets and earnings. If they include prior years, the initial conversion from South Korea's counting to US counting will take longer.
And seems to me that they started on this in April 2024.
I am not worried about this. This is starting to look better and clearer to me. They will file when they are ready. It would be great if they could have this done by the end of January 14, 2025!
Converting from South Korean accounting standards (K-IFRS or Korean GAAP) to U.S. Generally Accepted Accounting Principles (US GAAP) can be quite complex. Here are some key points to consider:
Complexity
1. Differences in Principles: K-IFRS and US GAAP have different underlying principles and rules. For example, K-IFRS is more principle-based, while US GAAP is more rule-based.
2. Valuation Methods: There are differences in how certain items are valued, such as inventory, property, plant, and equipment, and financial instruments.
3. Disclosure Requirements: US GAAP often requires more extensive disclosures compared to K-IFRS.
4. Tax Implications: Changes in accounting methods can have tax implications that need to be carefully managed.
Time Required
The time required to complete the conversion can vary significantly based on the size and complexity of the company's financials, but it generally takes several months to over a year. Here are some factors that influence the timeline:
1. Initial Assessment: Understanding the differences and planning the conversion process.
2. Data Collection and Analysis: Gathering historical financial data and analyzing it under the new standards.
3. Implementation: Adjusting accounting systems, processes, and policies to align with US GAAP.
4. Training and Communication: Ensuring that staff are trained on the new standards and that stakeholders are informed.
5. Audit and Review: Having the new financial statements audited and reviewed by external auditors.
iamthe walrus
5 days ago
Thats not the reason the 10Q is late . Yes that takes time but the delay is due to
"Since it could take several months or a year for the transfer of Korean accounting data into US accounting data. It maynot happen until next fall or Christmas!…"…. this is the bigger issue this is as it was stated in the 8K Nov 14th . Corporate structure reorganizing takes time so they are late in filing . Its that simple ..Its a number of issues not just one
All; the info on why they are late is in this Nov 14th 8K. There are numerous references about late filings with the SEC being a probability due to the complexities of the Series D offerings ..Its referenced throughout the 8K below ..So how long is to long. ???
https://investors.thecoretecgroup.com/node/8586/html
(e) SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (the “Exchange Act”), including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”) and when filed, each SEC Report was in compliance in all material respects with the requirements of its report form, the Exchange Act and the Securities Act. The Company represents that it will use commercially reasonable efforts to comply with its reporting obligations under the Exchange Act. However, due to complexities resulting from recent corporate transactions, including the share exchange, there is a risk that certain future filings may not be timely. Please refer to the Risk Factors set forth on Schedule I for further information.
In the event of any delayed filings, the Company will take all reasonable steps to rectify its reporting status and maintain its “current” reporting status with the SEC as soon as possible. The Company acknowledges that untimely filings may impact its eligibility to use certain forms, including Form S-3, for registration and capital-raising purposes. The Company further represents that, to the best of its knowledge, all proxy statements, reports, registration statements, schedules, forms, and other documents required to be filed with the SEC after the date hereof and through the relevant Closing Date will, if and when filed, comply in all material respects with the requirements of the Exchange Act and the Securities Act, and will not, at the time of filing, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.
Notwithstanding any failure by the Company to file any proxy statement, report, registration statement, schedule, form, or other document in a timely manner, such failure shall not constitute a breach of this Section 7, provided that the Company exercises commercially reasonable efforts to correct any such delays and maintain “current” reporting status with the SEC.
The Company acknowledges that, due to recent corporate transactions and related complexities, there may be risks of delays in preparing and filing future financial statements. The Company represents that it will exercise commercially reasonable efforts to prepare and file such financial statements timely and in compliance with GAAP and SEC rules. Except as disclosed in the SEC Reports, no information provided by or on behalf of the Company to the Purchaser which is not included in the SEC Reports contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein not misleading, in light of the circumstances under which they were made. The Company is not currently contemplating to amend or restate any of the financial statements (including, without limitation, any notes or any letter of the independent accountants of the Company with respect thereto) included in the SEC Reports (the “Financial Statements”), nor is the Company currently aware of facts or circumstances which would require the Company to amend or restate any of the Financial Statements, in each case, in order for any of the Financials Statements to be in compliance with GAAP and the rules and regulations of the SEC. However, the Company acknowledges that, due to the complexity of recent transactions, adjustments or additional disclosures could be necessary, which may impact the timing of future filings. Please refer to the Risk Factors set forth on Schedule I for further information.
Schedule I
Risk Factors
As a public reporting company, we are subject to filing deadlines for reports that we file pursuant to the Exchange Act, and our failure to timely file such reports may have material adverse consequences on our business.
To maintain our “current” reporting status with the SEC, we are required to file our Form 10-Q for the quarter ended September 30, 2024, within the SEC’s prescribed timeline. However, due to complexities arising from the recent share exchange, as well as delays in preparing and consolidating prior annual and quarterly financial statements, there is a risk that we may be unable to file this quarterly report on time or be able to regain compliance. Failure to meet this deadline could result in a loss of our current filer status. Even when we regain status as a current filer by filing timely reports with current financial statements, we will not be eligible to use a registration statement on Form S-3 that would allow us to continuously incorporate by reference our SEC reports into the registration statement, or to use “shelf” registration statements to conduct offerings, until approximately one year from the date we regained (and maintain) status as a current filer. Until such time, if we determine to pursue an offering, we would be required to conduct the offering on an exempt basis, such as in accordance with Rule 144A, or file a registration statement on Form S-1. Using a Form S-1 registration statement for a public offering would likely take significantly longer than using a registration statement on Form S-3 and increase our transaction costs, and could, to the extent we are not able to conduct offerings using alternative methods, adversely impact our liquidity, ability to raise capital or complete acquisitions in a timely manner. The use of Form S-1 would also prevent us from conducting offerings on a “shelf basis,” limiting our flexibility as to the terms, timing or manner of any such offering.
We cannot guarantee that in the future our reporting will always be timely. If we are unable to satisfy SEC filing deadlines or otherwise provide disclosures of material information on a timely basis, stockholders and potential investors in our Common Stock may have incomplete information about our business and results of operations, which may impact their ability to make an informed investment decision, result in a reduction in the trading price, trading volume or analyst coverage of our Common Stock or expose us to potential liability.
Bullish
BULLISH
iamthe walrus
5 days ago
i still believe the reason is just as they stated in the 8K SEC filing on Nov 14th . Its far more than just Core Optics Co., Ltd., finances . Its clear oin their filing why its late . This says it right here its very simple
Main reasons for being late on filings are , " due to complexities resulting from 1) recent corporate transactions, 2) including the share exchange " They are involved in a lot of Corporate restructuring in several areas leading to no being able to timely file the 10Q . Since we know why as does the SEC im not worried about it . When they get all this done they will file and we will move on as a newly structured more profitable company with revenue in those filings . thats the important thing to remember. Im not the least bit worried about any of this . The best is yet to come for CRTG !!!
(e) SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (the “Exchange Act”), including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”) and when filed, each SEC Report was in compliance in all material respects with the requirements of its report form, the Exchange Act and the Securities Act. The Company represents that it will use commercially reasonable efforts to comply with its reporting obligations under the Exchange Act. However, due to complexities resulting from recent corporate transactions, including the share exchange, there is a risk that certain future filings may not be timely. Please refer to the Risk Factors set forth on Schedule I for further information.
Juststoppingby
5 days ago
I believe Coretec management is preparing and consolidating Core Optics Co., Ltd., a Republic of Korea corporation's prior annual and quarterly financial statements. This would explain why it is taking so long to consolidate the finances and file the 10 Q and will also explain how they will uplist to NASDAQ.
As they said in the 8K filing dated November 14, 2024, “preparing and consolidating prior annual and quarterly financial statements.”
Core Optics LLC acquired Core Optics Co., Ltd., previously known as IS CCM Co. Ltd., which has already produced revenue and been in business for years. In other words, they didn't just acquire the CCM product line; they acquired the whole company, including all its tangible assets and intellectual property across all its technologies and industry verticals.
From March 6th, 2024, news release:
ANN ARBOR, Mich., March 06, 2024 (GLOBE NEWSWIRE) -- The Coretec Group, Inc. (OTCQB: CRTG) (the “Company”), …. and Core Optics, LLC (“Core Optics”) announced today that they have entered into a definitive share exchange agreement pursuant to which, on the closing date, the Company is expected to acquire 100% of the membership interests of Core Optics, LLC and its subsidiaries which hold all its tangible assets and intellectual property across all its technologies and industry verticals. Subsequent to the closing of the transaction, the combined company will continue to operate under the name The Coretec Group, Inc. and trade under the ticker symbol CRTG, before pursuing uplisting to a senior exchange when it believes the combined company can satisfy initial listing requirements. The Closing of the transaction is subject to customary closing conditions.
Converting from South Korean accounting standards (K-IFRS or Korean GAAP) to U.S. Generally Accepted Accounting Principles (US GAAP) can be quite complex.
The time required to complete the conversion can vary significantly based on the size and complexity of the company's financials, but it generally takes several months to over a year.
ElectricStream21
5 days ago
Interesting that Neil Kleinman has been appointed, good find, I did some research into the name and this may be just a coincidence. Neil Kleinman is head of capital markets for Jospeh Gunnar & Co LLC, an investment banking firm based in New York City, New York. The firm provides advisory in mergers, acquisitions, capital raising, joint ventures, acquisition financing, initial public offerings, strategy consulting, private placements, secondary offerings, and recapitalization.
If it is the same person, I wonder if they have been brought in to assist with CRTG’s late reporting and get their financials in order. Also, having an Investment Bank on side with expertise in navigating complex listings could play a key role in facilitating Coretec’s transition to uplisting. This enhances Coretec’s ability to meet listing requirements, attract broader market interest and helps the company get exposure to Institutional Investors. For me, if this is the same person, it definitely signals a pivotal step toward its uplisting.
HNY everyone!
iamthe walrus
6 days ago
Main reasons for being late on filings are , " due to complexities resulting from 1) recent corporate transactions, 2) including the share exchange " They are involved in a lot of Corporate restructuring in several areas leading to no being able to timely file the 10Q . Since we know why as does the SEC im not worried about it . When they get all this done they will file and we will move on as a newly structured more profitable company with revenue in those filings . thats the important thing to remember. Im not the least bit worried about any of this . The best is yet to come for CRTG !!!
(e) SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (the “Exchange Act”), including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”) and when filed, each SEC Report was in compliance in all material respects with the requirements of its report form, the Exchange Act and the Securities Act. The Company represents that it will use commercially reasonable efforts to comply with its reporting obligations under the Exchange Act. However, due to complexities resulting from recent corporate transactions, including the share exchange, there is a risk that certain future filings may not be timely. Please refer to the Risk Factors set forth on Schedule I for further information.
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