Irvine, CA, June 23, 2017 – Ubiquity, Inc. (OTCBB: UBIQ) (“Ubiquity” or the “Company”), is a vertically integrated, technology-focused media company. Ubiquity, whose portfolio of patents and intellectual property cover virtual, augmented, mixed and immersive reality as well as the Internet-of-Things, announced today that it has filed it 10K for the period ending December 31, 2015.
Chris Carmichael newly installed interim CEO took immediate steps towards financial reporting compliance. Carmichael said, “We are committed to this effort and are working diligently to complete the task. I am confident we can become fully compliant quickly as we execute our restructuring plan.”
Ubiquity intends to undertake a Restructuring Plan to (a) ultimately achieve compliance with its reporting obligation under the Exchange Act; (b) settle all, if not substantially all, of its outstanding litigation; and (c) implement its business plan to commercialize its patent portfolio and provide software as a service (SaaS), mobility as a service (MaaS), virtual and augmented reality products and services.
Based in Irvine, California, Ubiquity is a vertically integrated, technology-focused media company. Ubiquity’s portfolio of patents and intellectual property covers virtual, augmented, mixed and immersive reality as well as the Internet-of-Things.
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management’s current expectations and assumptions and are subject to risks and uncertainties. In some cases, you can identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” “will,” “would” or the negative of these terms or other comparable terminology. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated, including, without limitation, the fact that: we are delinquent in filing our Form 10-K Annual Reports with the SEC and our required quarterly reports since September 30, 2015; our potential inability to raise additional funding as required to execute our business plan; the potential that our common stock may be permanently delisted from trading as a reporting company under the Exchange Act; the possibility that our creditors may sue on defaulted notes in excess of $3.0 million which could cause us to seek relief under the federal bankruptcy law; and the possibility that our common stock may never trade on any recognized securities exchange. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
Source: Ubiquity Inc.