Business
ILUS Confirms Its Form 10 Effectiveness and SEC Reporting Status
ILUS Confirms Its Form 10 Effectiveness and SEC Reporting Status.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, Dec. 20, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc. (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and growing public safety and industrial companies across the globe. The company filed its Form 10 Registration statement with the U.S. Securities and Exchange Commission (the \"SEC\") on the 19th of October 2022 and following one filed amendment, the Form 10 became effective on the 19th of December 2022.  ILUS is now subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, and will begin filing its periodic reports with the SEC on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and subjected itself to additional reporting obligations related to proxies, shareholder actions and stock ownership rules. The company’s profile on OTC Markets is expected to update to SEC reporting approximately within a week.  John-Paul Backwell, Managing Director of the Company, said, \"Following through on our planned objectives, we are pleased to announce that our Form 10 is effective, and we are now a fully SEC reporting company. This has always been an important regulatory milestone and essential step for us in giving our Shareholders and Investors a transparent portal into our business.”  Now that the Form 10 is effective, ILUS is eligible to up-list to the OTCQB® Venture Market. The company believes that trading on the OTCQB is another important milestone, enhancing the company’s visibility to a much larger group of Investors. Therefore, the application will be submitted to OTC Markets as soon as possible with the intent to submit before year end. ILUS will also be submitting its application to FINRA for its name change to ILUS International Inc. Both of the applications typically take 60-90 days but could take as long as 180 days. About the OTCQBThe OTCQB® Venture Market is the premier marketplace for entrepreneurial and development stage US and international companies that are committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certificatio...