CURRENT STATUS

Our Company's Filing Status.

Stramsen Biotech, Inc is still a private company and for the past two years since November 2020 we have been self funded. We have not raised funds from any rounds of fundraising from outside investors.

Hence we are an emerging growth company and a smaller reporting company for the purposes of future filings with the U.S. Securities and Exchange Commission.

If your company qualifies as an “emerging growth company,” as defined in Section 2(a)(19) of the Securities Act, it may choose to follow disclosure requirements that are scaled for newly public companies.

A company qualifies as an emerging growth company if it has total annual gross revenues of less than $1.07 billion during its most recently completed fiscal year and, as of December 8, 2011, had not sold common equity securities under a registration statement. A company continues to be an emerging growth company for the first five fiscal years after it completes an IPO, unless one of the following occurs:

its total annual gross revenues are $1.07 billion or more
it has issued more than $1 billion in non-convertible debt in the past three years or
it becomes a “large accelerated filer,” as defined in Exchange Act Rule 12b-2

Emerging growth companies are permitted:

to include less extensive narrative disclosure than required of other reporting companies, particularly in the description of executive compensation
to provide audited financial statements for two fiscal years, in contrast to other reporting companies, which must provide audited financial statements for three fiscal years
not to provide an auditor attestation of internal control over financial reporting under Sarbanes-Oxley Act Section 404(b)
to defer complying with certain changes in accounting standards and
to use test-the-waters communications with qualified institutional buyers and institutional accredited investors

Additional Information and Resources

If your company qualifies as a “smaller reporting company,” as defined in Item 10(f)(1) of Regulation S-K, it may choose to prepare the disclosure in the prospectus relying on scaled disclosure requirements for smaller reporting companies in Regulation S-K and in Article 8 of Regulation S-X.

On June 28, 2018, the Commission adopted amendments to the definition of “smaller reporting company” that were effective on September 10, 2018. Under the new definition, generally, a company qualifies as a “smaller reporting company” if:

it has public float of less than $250 million or
it has less than $100 million in annual revenues and
- no public float or
- public float of less than $700 million

Public float is calculated by multiplying the number of the company’s common shares held by non-affiliates by the market price and, in the case of an IPO, adding to that number the product obtained by multiplying the common shares covered by the registration statement by their estimated public offering price. A company may have no public float because it has no public common shares outstanding or because there is no market price for its common shares.

The scaled disclosure requirements for smaller reporting companies permit your company:

to include less extensive narrative disclosure than required of other reporting companies, particularly in the description of executive compensation and
to provide audited financial statements for two fiscal years, in contrast to other reporting companies, which must provide audited financial statements for three fiscal years

In addition to the accommodations that are available to smaller reporting companies, there are also different requirements that apply to “non-accelerated filers” and “accelerated filers.” Generally, if a smaller reporting company has:

[+]No public float or public float of less than $75 million
[+]Public float of $75 million or more

Company Status: About