Buscar Company (OTC: CGLD) is taking concrete steps to become a fully reporting company with the U.S. Securities and Exchange Commission (SEC), aiming for an uplisting to the OTCQX Market. This move could open the door to greater transparency, improved investor confidence, and increased liquidity for shareholders.
Under the leadership of Chairman and CEO Alexander Dekhtyar, who brings more than 25 years of financial experience, Buscar is actively working through the process of meeting SEC reporting requirements. The company has engaged Barton CPA PLLC, a Houston-based accounting firm registered with the Public Company Accounting Oversight Board (PCAOB), to conduct a comprehensive audit of its financials. Barton CPA PLLC boasts more than 150 years of collective experience, including significant time at Big Four firms and the PCAOB itself.
The audit is a critical step for any company seeking to uplist to the OTCQX Market, which is known for its strict financial standards and robust disclosure requirements. By working closely with Barton CPA PLLC, Buscar is aiming to ensure its financial statements meet the standards expected by both regulators and investors.
In addition to the audit, Buscar has hired a law firm that specializes in SEC matters to prepare and file a Form 10. This filing is essential for companies looking to become fully reporting with the SEC. The Form 10 includes detailed information about the company’s business, financials, and management, and its acceptance marks a significant milestone in the journey toward uplisting.
According to the Company’s Chairman and CEO Alexander Dekhtyar, these efforts are about more than just regulatory compliance. “We are committed to meeting the highest standards of financial transparency and governance,” he said. “Our efforts to uplist to OTCQX reflect our dedication to building trust with our shareholders and positioning Buscar as a leader in our industries”.
The OTCQX Market is the top tier of the OTC Markets Group and is reserved for companies that meet higher financial and governance standards. Companies listed on OTCQX must provide timely and accurate disclosures, maintain strong corporate governance, and pass a rigorous review process. For investors, an uplisting to OTCQX can mean better access to information, greater liquidity, and a higher level of confidence in the company’s operations.
For Buscar, achieving OTCQX status could help attract a broader investor base and improve the trading environment for its shares. The company’s push for full reporting status and an uplisting is also likely to enhance its visibility among institutional investors, who often require higher standards of disclosure and governance.
Buscar manages a portfolio that spans natural resources, sustainable technologies, and pharmaceuticals. Its subsidiaries include Eon Discovery Inc., which operates gold mining projects in California’s Plumas National Forest, Terramer Inc. a developer of hemp-based biodegradable bioplastics, and Armorgenix, a pharmaceutical company focused on detoxification and antiviral solutions.
The company’s current structure was shaped by a 2020 reverse merger with Eon Discovery. Since then, Buscar has sought to grow through innovation and diversification, aiming to create value for shareholders across multiple sectors.
With the audit underway and legal preparations for the Form 10 filing in progress, Buscar is moving closer to its goal of joining the OTCQX Market. If successful, this transition could mark a new chapter for the company, offering greater transparency and potential for growth.
