Business
BioLife Sciences (OTCPK:BLFE) Initiates Process for Up-Listing to OTCQB
BioLife Sciences (OTCPK:BLFE) Initiates Process for Up-Listing to OTCQB.
About this update from Biolife Sciences Inc.
[{"type":"text","content":"\n TORONTO, ONTARIO, Nov. 09, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire – BioLife Sciences Inc. (OTCPK:BLFE) announces it has initiated the process of up-listing to the Over the Counter Quotation Bureau (“OTCQB®”) by engaging MNP LLP (“MNP”), an accounting firm registered with the U.S Public Company Accounting Oversighting Board (“PCAOB”), to independently audit BioLife’s finances. MNP is one of Canada's largest national accounting and business consulting firms. MNP will conduct their audit in accordance with the standards established by the Public Company Accounting Oversight Board (PCAOB) (United States) and will include tests of the Company’s accounting records and other procedures. Upon completion of the auditing, MNP will submit to the audit committee a report with MNP’s opinion on the consolidated financial statements of BioLife. MNP will examine the consolidated statement of financial position of BioLife as of November 30, 2020; November 30, 2019; and December 1, 2018. BioLife considers this action to be fundamental and necessary to the company’s efforts to demonstrate greater transparency to its investors and as such, to bring greater visibility to investor groups seeking to commit towards longer-term investments with BioLife. To be eligible to trade on this market tier, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process. The OTCQB® Venture Market will allow the company to appeal to a more sophisticated pool of investors, particularly to institutional investors, dramatically increase liquidity and visibility, as well as solidify their position within the commercialization market. About BioLife Sciences Inc. BioLife Sciences Inc. specializes in moving innovative products from the lab or small-scale production into wider market adoption. Its core business develops, licenses and distributes antimicrobial products, non-contact human temperature screening technology, and touchless vending/marketplaces. One of BioLife Sciences’ core building block strategies is to develop, partner and assist innovative companies with the commercialization of leading-edge technologies. About MNP LLP MNP is a leading national accounting, tax and busine...