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.
Chief Executive Officer
4Cable TV International, Inc. (soon to be Category V Biotech, Inc.)