SOURCE: Image Technology Laboratories, Inc.
December 14, 2016 09:09 ET
SAN CLEMENTE, CA--(Marketwired - Dec 14, 2016) - Image Protect Inc. (OTC: IMTL)
The Company announced today they have engaged a CPA firm for oversight of the monthly financial statements along with all accounting and financial reporting duties. The company is currently receiving proposals for a two-year audit from top tier PCAOB firms.
The company Chief Executive Officer, Lawrence Adams, stated, "Since the point of the reverse merger with Image Protect Inc. it has been our corporate strategy all along to pursue an Up-list to the OTCQB." He further stated, "With the recent name change successfully getting approved by FINRA and our year end upon us, we chose to pursue this time frame as it coincides with the closing of our fiscal year."
The company successfully got their Reg A through the Securities and Exchange Commission with zero comments earlier this year, and expects to file an S1 Registration for the up-list. We would hope our S1 process will follow the same pattern as our Reg A filing. The Up-list will allow the company to pursue Capital Raises with Investment Banks and Funds it has developed relationships with over the past year.
About the Company
Image Protect protects and monetizes creative works. By uniting technology with a team of copyright experts, we ensure that content providers preserve the value of their digital assets. Our web application monitors the global Internet to seek and collect evidence for illegally used visual content. Then our legal partners in North America, Europe, Asia and Oceania ensure that our clients receive appropriate compensation, recovering settlement fees when their work has been used without a valid license.
Safe Harbor Provision
Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review Image Technology Laboratories' 10-K and 10-Q for a more complete discussion of risk factors. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
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