PALM DESERT, CA / ACCESSWIRE / May 4, 2023 / Southern ITS International, Inc. (OTC PINK:SITS) announced today announced today that the Company's Board of Directors has voted to file a Form 10 - General Form of Registration of Securities with the Securities and Exchange Commission in order for the Company to become fully reporting.
The planned Form 10 filing will provide investors with detailed information about the Company's operations, including an overview of the business strategies and risk factors, as well as audited financial statements. The Company believes that this next step is fundamental to the Company's efforts to provide additional transparency to its shareholders and bring additional focus upon the Company from a large group of qualified investors and acquisition candidates.
The Company has retained BF Borgers CPA PC as its PCAOB auditor in order to audit the Company's financial statements for inclusion in the Form 10 filing. Being a fully-reporting entity means the Company will be required to file certain reports with the SEC, including Annual Reports with audited financial statements on Form 10-K, Quarterly Reports on Form 10-Q, and periodic reports on Form 8-K.
The ongoing obligations to timely file with the SEC will help the Company's current and potential investors make more informed and educated investment decisions about the Company.
The Company's shares will continue to be traded on the OTC Open Markets under the symbol "SITS".
About Southern ITS International, Inc.
Southern ITS International, Inc., through its subsidiary companies, currently has operations focused on a wide variety of fields, including oil and gas exploration and development, clothing, and e-commerce fulfillment. We intend to expand upon our current base of operational companies and to increase our ownership and/or control of a portfolio of highly successful businesses. As a holding company, Southern ITS International continues to be in the market to acquire a stake in various companies, both public and private, which will complement its current operations. It will also focus on building a direct sales network of various e-commerce internet applications, manufacturing, and internet sales of various products. We have put in place an experienced management team that is continuing to build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International.
Precautionary and Forward-Looking Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of several factors, and other risks identified in the Company's disclosures or filings with the SEC or OTC Markets Group, Inc. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.
Contact: Southern ITS International, Inc.
Investor Relations
442-300-6522
info@sitsintl.com
SOURCE: Southern ITS International, Inc.
View source version on accesswire.com:
https://www.accesswire.com/752884/Southern-ITS-International-Inc-Plans-To-File-Form-10-Registration-With-the-SEC
