Verde Bio Holdings Inc logo

VBHI - Verde Bio Holdings Inc News Story

$0.01 0.0  2.0%

Last Trade - 28/01/22

Market Cap £8.53m
Enterprise Value £8.39m
Revenue £192k
Position in Universe 6871st / 7419

Verde Bio Holdings, Inc. Announces Notification of Late Filing

Thu 29th July, 2021 5:01pm
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210729:nGNX1jqxXD&default-theme=true


Frisco, TX, July 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire
(https://www.globenewswire.com/Tracker?data=tRKrzaQRUb2r1vEvr1IsvbuwDUib09Ac_So3WBmtl0QHfC0auAiUa5HXlAE0MxhMhXtJKJREmYSusJ7c1_6dRRoGd7G0xS4CtQgblmOnPdI=) --
Verde Bio Holdings, Inc. (OTC: VBHI) today announced that it has filed with
the U.S. Securities and Exchange Commission (SEC) a Form 12b-25 Notification
of Late Filing regarding its Annual Report on Form 10-K for the fiscal year
ended April 30, 2021. 

“This will allow additional time to complete financial statements and
related disclosures due to complexity connected with the Company's
acquisitions in its fourth quarter,” said Scott A. Cox, Verde CEO.

"We have completed sixteen significant acquisitions to date, ten of those in
the fourth quarter," said Mr. Cox. "These transformative additions have
greatly expanded our capabilities and revenue base but have also added to the
complexity of our financial reporting, as we are now subject to full SEC oil
and gas accounting rules. These rules include reserve reporting, estimation of
revenues in suspense, impairment Ceiling Tests and full SMOG Disclosures. In
abundance of caution, we prefer to take the extra time now, rather than
finding errors and being forced to restate our numbers. Our accounting and
audit groups are working to complete all remaining matters and expect to file
our Form 10-K within the 15-day extension period afforded by Rule 12b-25 under
the Securities Exchange Act of 1934, as amended."

About Verde Bio Holdings, Inc. Verde Bio Holdings, Inc. (OTC: VBHI) is a
growing U.S. Energy Company based in Frisco, Texas, engaged in the acquisition
and management of Mineral and Royalty interests in lower risk, onshore oil and
gas properties within the major oil and gas plays in the U.S. The Company’s
dual-focused growth strategy relies primarily on leveraging management’s
expertise to grow through the strategic acquisition of revenue producing
royalty interest and strategic and opportunistic non-operated working
interests.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:

Statements in this press release that are not strictly historical are
“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. These statements involve a high degree of risk and
uncertainty, are predictions only and actual events or results may differ
materially from those projected in such forward-looking statements. Factors
that could cause or contribute to differences include the uncertainty
regarding viability and market acceptance of the Company’s products and
services, the ability to complete software development plans in a timely
manner, changes in relationships with third parties, product mix sold by the
Company and other factors described in the Company’s most recent periodic
filings with the Securities and Exchange Commission, including its 2019 Annual
Report on Form 10-K and quarterly reports on Form 10-Q.

Contact:

Paul Knopick E & E Communications 

pknopick@eandecommunications.com

940.262.3584

(https://www.globenewswire.com/NewsRoom/AttachmentNg/66851c2f-ea03-44a1-a79e-7daf581423c1)



GlobeNewswire, Inc. 2021
© Stockopedia 2022, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.