PurMinds Enterprises Targets OTC Uplisting Following Financial Cleanup

Las Vegas-based neuroscience firm PurMinds Enterprises has submitted its fiscal 2026 second-quarter financials to OTC Markets, signaling a pivot toward institutional-grade transparency. The company is currently undergoing a PCAOB audit, a prerequisite for its planned application to uplist to the OTCQB or OTCQX market tiers later this year.

The company’s recent filings reveal a significant restructuring effort designed to shed legacy shell obligations and streamline its balance sheet. Under the direction of CFO and COO Angelo Pizzuto, PurMinds has begun a PCAOB audit process, with preliminary work launched in early May. This move aims to facilitate a Rule 15c2-11 application with FINRA, ultimately intended to remove shell restrictions and secure a more robust public trading identity.

Financial performance reflects this period of intense corporate transition. PurMinds reported a net loss of $922,000 for the quarter, driven largely by $350,000 in research and development and licensing expenditures. These costs include a major investment in photonic chip diagnostic technology through a partnership with SpectroChip Global Inc. Despite the lack of current revenue, the company has secured over $2.25 million in private capital since its reverse takeover, providing the necessary runway to advance its neurological drug pipeline. Leadership anticipates the audit process will conclude by early July, marking the transition from corporate restructuring to a growth-oriented phase focused on commercializing its diagnostic platforms.