Element Global, Inc. (ELGL) Evaluates Up-Listing T

VIRGINIA BEACH, Va., Aug. 02, 2017 (GLOBE NEWSWIRE) -- Element Global, Inc. (OTCPINK:ELGL) proceeds with the evaluation of moving the Company’s trading status to OTCQB on OTC MARKETS.

Management determined the “NEW” Alternative Listing Standards which became available to issuers could be a prudent, time saving and cost effective objective to up-lift ELGL’s tradable shares.

Effective May 18, 2017, the OTC Markets amended its rules for the OTCQB qualification which allows the issuers that follow “Alternative Reporting Standard .”  The new standard for OTCQB for alternative reporters now allows a company to file 1-year audited financial reports.  These reports are to US GAAP standards through a PCAOB qualified auditor .  A company must still maintain a bid price of $0.01 per shares, needs a board of directors with at least two independent directors, and an audit committee comprised of a majority of independent directors.

OTC MARKETS believes these updated rules for OTCQB provides non-SEC Reporting companies with the benefits of public trading while lowering the cost and complexity of being public. The new market standards give “Alternative Reporting” companies an efficient way to raise their profile among the investor and broker dealer communities, access greater liquidity, and trade on an SEC-recognized market. Thus, removing the trading restrictions placed on “Pink” market securities.

Based on these news standards, ELGL’s management remains confident that up-listing to the OTCQB can be done timely with reasonable fees for the audit process and legal review.

Once management and the board at ELGL finish their due diligence on OTC MARKETS’ ALTERNATIVE REPORTING STANDARDS new rules, expect more news to follow.

Management continues on its fiduciary path with a primary objective of creating shareholder value.

For further information about this release, contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, at 757-306-6090 and yes@yesinternational.com . 

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.

Contact:

Rich Kaiser

YES INTERNATIONAL

757-306-6090