HONG KONG–WEYL, (Marketwired – Jul 31, 2017) – Weyland Tech, Inc. (OTCQB: WEYL) (the “Company”) would like to update shareholders on the status of its NASDAQ application for uplisting and address several key issues regarding market rumors.
As indicated in previous filings with the Securities and Exchange commission, the Company has filed its NASDAQ application and the standard review by NASDAQ staff is in process. We understand that that process can take up to twelve months. We have responded to initial comments and requests for information by NASDAQ staff, and those responses are under review. We have not been given a definitive timeline for approval, nor have we been notified that our application has or will be rejected. We believe that the Company currently qualifies for inclusion to the NASDAQ Capital Market and that our application will be approved following NASDAQ’s normal and standard review period and processes.
In the interim, the Company’s management has been made aware that it qualifies for the OTCQX, the highest tier of the OTC Markets Group where a number of esteemed companies such as Roche Holding, Allianz, BNP Paribas, BASF, Adidas and numerous others are listed. There are currently only 406 companies listed on the OTCQX, and the management of Weyland Tech is pursuing a transition to the OTCQX while its NASDAQ application is being processed.
Further updates will be forthcoming.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements.” The statements regarding the continued growth of the mobile app segment and the ability of the Company to continue its expansion into that segment and the ability of the Company to attract customers and partners and generate revenues. Often these forward-looking statements are identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). Expressly, all forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.