BioStem Technologies Provides Update on the Company’s Form 10 Submission and SEC Review Process

Upon SEC approval of the amended Form 10, BioStem expects to advance its uplisting to Nasdaq

POMPANO BEACH, Fla. – June 3, 2025 – (GLOBE NEWSWIRE) — BioStem Technologies, Inc. (“BioStem” or the “Company”) (OTC: BSEM), a leading MedTech company focused on the development, manufacturing, and commercialization of placental-derived products for advanced wound care, today provides an update on the Company’s Form 10 registration statement and SEC review process.

BioStem believes it has favorably resolved outstanding SEC accounting comments and anticipates filing an amended Form 10 by the end of June 2025. The amended filing is expected to include audited financial statements for fiscal year 2023 and 2024, as well as unaudited results for the first quarter of 2025. Upon formal completion of the SEC review process and effectiveness of the Form 10, the Company expects to proceed with its planned uplisting to the Nasdaq Capital Market.

The Company initially submitted its Form 10 in September 2024 and has worked closely with its auditors and the SEC throughout the review process including to address questions regarding the accounting treatment of revenue generated from the sale of BioStem’s products to end users, as well as the bona fide service fees paid to Venture Medical in connection with the sale, marketing and distribution of BioStem’s products. The Company has submitted its initial Nasdaq listing application. Uplisting is subject to effectiveness of the Form 10 and other Nasdaq listing requirements, which we expect to satisfy at such time as the Form 10 is declared effective.

Jason Matuszewski, BioStem’s CEO, stated: “We are encouraged by the progress made to date and remain actively engaged with the SEC as we work through the final stages of the review process. While our Form 10 has not yet been declared effective, we are optimistic about the path forward. I want to thank our auditors, legal counsel, and dedicated team for their continued commitment and focus in driving this process. We are also grateful for the patience and support of our shareholders and look forward to providing further updates as we approach this important milestone.”