BETHESDA, Maryland, January 14, 2019 /PRNewswire/ --
Token Communities Ltd ("TCL") (OTC: TKCM), a Software as a Service Company (SAAS), an advisor and incubator to Fintech and AI start-up and growth companies, announced today that the Company is now finalizing all financials with its auditors, accountants and all other service providers to complete the consolidated audited financial statement relating to the acquisition of the Token Communities Plc, Gibraltar Company by Token Communities Ltd. Said filing has been severely delayed due to variance in the company's jurisdictions, currencies and unifying all accounting under US GAAP standards.
The Company anticipates filing a Super 8K together with the audited consolidated financial statements as soon as possible, which Company anticipates will be no later than January 31st, 2019.
As part of its restructuring, the Company wishes to note that it has been approved by the Depository Trust & Clearing Corporation for trading in its shares, an integral step in management's plan for further development of the Company. The DTC is a registered clearing agency with the US Securities and Exchange Commission, which could from then onwards provide TKCM (OR the Company) with access to their digital settlement and clearance services.
The Company anticipates making further announcements shortly.
About Token Communities Ltd.
Token Communities Ltd contains our wholly owned subsidiary Token Communities PLC, a boutique Gibraltar Financial Advisory firm which specializes in incubating as well as advising and managing qualified companies in the blockchain and distributed ledger technologies arena, including smart contracts, TGEs, DApps, and more. Advisement comprises the authoring of industry standard White Papers, technical aspects, design and implementation of market strategies, business appraisal and more. All potential clients must be fully vetted and AML/KYC approved.
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on May 21st, 2018. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Token Communities Ltd. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For further information, please contact us at Steven Knight, +350-200-40466, Info@TokenCommunities.com
SOURCE Token Communities Ltd.