Proteonomix, Inc. has announced that it has received clearance from the Security and Exchanges Commission (SEC) via a no comment letter to proceed with the process to move to the Over The Counter Bulletin Board (OTCBB) exchange. Proteonomix, formerly National Stem Cell Holdings until August 2008, now may move forward with filing with FINRA (Financial Institution Regulatory Authority) through a broker-dealer for listing on the OTCBB exchange.
In order to become a part of the OTCBB exchange, a company must be fully-reporting with the SEC. Proteonomix, which was trading on the Pink Sheets and recently moved to the more exclusive OTCQB, has been filing the proper paperwork with the SEC since October 2009. The 10-K and 10-Q reports that have been filed qualify Proteonomix as a fully-reporting company.
President of Proteonomix, Michael Cohen, was quoted in today’s press release as saying, “We have always tried to be transparent in the disclosure of our business and finances and intend to be current in reports filed with the SEC. Our receipt of this SEC no-comment letter on our registration statement allows us the opportunity to list on the OTCBB market. An OTCBB listing will add to the credibility of the disclosure of our technological and therapeutic advances, and also exposes our company to clients of firms that do not presently allow their representatives to recommend our common stock. Finally, a listing on the OTCBB will provide a greater opportunity for institutions to become involved in PROT.”
Proteonomix, Inc., based in Mountainside, NJ, is a developmental biotechnology company which engages in the development of stem cell therapies primarily for the treatment of diabetes and cardiac therapy. Proteonomix has several subsidiaries including Proteonomix Regenerative Translational Medicine Institute, Inc. (which recently opened a subsidiary in the Dominican Republic), StromaCell, Inc., National Stem Cell, Inc. and The Sperm Bank of New York, Inc. The companies mission, according to their recent Form 10/A filed with the SEC, “is to achieve a leadership position in life enhancement regenerative stem cell therapies, services, and products through a combination of first to market technologies, and innovative clinical trial strategies.”