Progress Report February 13 2024
February 13 2024 - 10:25AM
InvestorsHub NewsWire
February
13, 2024 -- InvestorsHub NewsWire -- Dear Esteemed
Shareholders,
As
we commence the second month of the new year, it is my distinct
pleasure to furnish you with comprehensive updates on the pivotal
developments within our organization, soon to be formally
recognized as Category V Biotech, Inc.
Name
Change Progress Update: I am delighted to announce the successful
submission of all requisite documentation for the imminent name
change to Category V Biotech, Inc. Presently, our team is actively
engrossed in the pivotal process of securing approval from FINRA.
This transition epitomizes our unwavering commitment to a future
where innovation and biotechnology will unequivocally take center
stage.
Financial
Audit Initiatives Update: In our relentless pursuit of excellence,
we have initiated the process of selecting an auditor for a
thorough financial audit. Multiple proposals from esteemed PCAOB
accounting firms have been received, and our team is meticulously
evaluating these to make a judicious decision. This scrupulous
selection process underscores
our dedication
to transparency, accountability, and the reliability of our
financial information.
Resilience:
Despite the challenges encountered, our resilience remains
steadfast. We are resolute in our efforts
to rebuild
and thrive, with an unswerving focus on advancing in cannabis
cultivation, establishing facilities for craft growers, and
venturing into the realms of food, beverages, and functional
mushrooms. Our active cultivation of hemp and mushrooms, ongoing
sales initiatives, and progress across various product lines
signify our commitment to surmounting adversities and realizing our
strategic objectives.
Future
Strategies and Predictions: In alignment with prevailing industry
trends, we are actively exploring opportunities to augment
production in the cannabis food and beverage sector. Foreseeing an
increase in market share amidst ongoing deregulation, we are
strategically positioned to capitalize on these transformative
changes. The recent recognition by the Federal Government regarding
the medical value of cannabis and its potential reclassification
marks a positive stride towards the cessation of prohibition and
enhanced public health, paving the way for extensive research on
the plant and facilitating biotechnological advancements for the
industry.
Current
Litigation: We have reached the two-year mark since the initiation
of the lawsuit against Fluent and Freedom Town Holdings, and
substantial progress has been achieved. Most of the discovery
process has been concluded, our experts have been retained and have
provided their opinions, and several motions are currently pending.
We anticipate reporting by April 1, 2024, in adherence to the
Agreed Order on Case Management that confirms our Trial Ready
status. Pending the availability of the Judge, we eagerly
anticipate
the hearing
of pending motions and the subsequent scheduling of a trial date in
2024.
Addressing
Financing Challenges with Transparency: Recognizing the financial
challenges associated with capital requirements, we wish to assure
you of our proactive endeavors to explore avenues for raising
capital. The forthcoming release of our 2023 yearly financials will
offer a comprehensive overview of our financial situation,
underscoring our commitment to transparency and ensuring that you
are well-informed.
In
conclusion, I extend my heartfelt gratitude
for your
unwavering support. With your steadfast backing, we harbor a
profound confidence in our ability to navigate challenges and
emerge stronger than ever.
Thank
you for your integral role in the journey towards Category V
Biotech, Inc. Sincerely,
Michael
Feldenkrais Chief Executive Officer 4Cable TV International, Inc.
(soon to be Category V Biotech, Inc.)
4Cable TV (PK) (USOTC:CATV)
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