LEAMINGTON SPA, England, Aug. 4, 2011 /PRNewswire/ -- DNA Dynamics, Inc. (PK:DNAD) has signed an engagement letter with Ethan Weyand & Associates to assist us by preparing the company's accounts to be audited. DNAD's attorney has also been instructed to begin the process of filing the relevant paperwork with the SEC to become fully reporting, including a Form 10. These are required steps when looking to uplift OTC status from Pink to OTCQB.
In commenting on the company's move, Ed Blincoe, CEO of DNAD, said, "raising our OTC status to OTCQB is evidence of our absolute intention to shareholder value and to bring the company onto a higher exchange. It is important for shareholders to be able to invest in a businesses which are fully transparent and it is important to the business that it is seen to be working hard to raise itself from OTC Pink and through the ranks."
The OTC Markets website says that "OTCQB is the middle tier of the OTC market. OTCQB companies are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. There are no financial or qualitative standards to be in this tier."
We anticipate the audit will be completed within three months and the Company will be able to file its Form 10 with the SEC thereafter.
About DNA Interactive
DNA Interactive, is a publisher of games and apps for mobile and tablet devices including iPhone apps, apps for the iPad along with apps for Android phones and tablets. Established in 2010 DNA Interactive develops, acquires and publishes games for Android and iOS devices.
About DNA Studios
DNA Studios, formally Slam Productions Ltd, is a videogames developer based in Leamington Spa, Warwickshire. DNA Studios create Games and Apps for Mobile Devices and handheld consoles using their proprietary Rapid Application Development tool, The "Slam Engine". In 2010 the company was named by Develop Magazine as one of the top 100 most successful game studios in the world
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SOURCE DNA Dynamics, Inc.