EV Biologics Corp., OTC PINK:YECO, is taking this opportunity to update our shareholders and other investors concerning the status of our name change submission to the Financial Industry Regulatory Authority (FINRA). As some might be aware, such submissions can be a lengthy and complex process, requiring notarized documents.
On April 12, 2019, the Company filed Articles of Continuance with the Wyoming Secretary of State in order to change the Company’s jurisdiction from the Cayman Islands to the State of Wyoming. Upon completion of that filing in 2019, the Company ceased to be a foreign issuer and became a domestic issuer in the United States. Subsequently, effective May 7, 2019, the Company received written notification from the Wyoming Secretary of State that the Articles of Continuation had been accepted by the State of Wyoming and filed accordingly. The completion of the filing with the Wyoming Secretary of State formally established the domestic, United States jurisdiction of the Company. On July 31, 2020, this move from the Cayman Islands to the United States was followed with our name change to EV Biologics Corp. Our name change has been legally and fully effective in the United States, and indeed, the entire world since that date.
However, because the EV Biologics Corp. is a publicly traded company, and in order to protect shareholders and investors, government regulatory agencies impose additional requirements, including the requirement that FINRA must examine the Company’s entire history as well as all documents pertaining to that history.
We began that submission process several months ago. A particularly large file of required documents was delivered to FINRA recently and we received a detailed response requesting a number of additional documents, many of which will require notarization.
None of these additional requests are unusual for FINRA, but the requirement that many require a notary stamp is causing delay as notary certification is in somewhat short supply at the present time due to Covid. We will continue to respond in a timely, accurate and detailed manner and will notify all interested parties as soon as FINRA completes their process. Upon completion, EV Biologics Corp will also receive a new trading symbol from FINRA.
About the Company
EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, working to bring human mesenchymal “MSC” and other stem cell and cell-derived products to market in the cosmetic and biopharmaceutical spaces. Initially, these novel and unique products will be specifically provided to the international clinical research community including universities and physicians and will be targeted to the aesthetic and regenerative medicine markets. Using proprietary and patentable technologies, the Company is creating exclusive IP and IT inherent in our superior products. Further product development will be focused on investigation of novel stem cell-derived biopharmaceuticals designed for specific clinical conditions.
This news release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases “plans,” “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think,” “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.