ILUS Provides Update on Disclosure Status and OTC Markets Listing

Core Viewpoint - Ilustrato Pictures International Inc. is facing delays in its financial disclosures and may temporarily move to the OTC Expert Market due to ongoing audit and consolidation challenges [1][4][6] Financial Disclosures - The company consolidates multiple subsidiaries in its financial reporting, which can lead to delays in audits and filings at the subsidiary level impacting the overall financial disclosures [2][3] - ILUS is targeting to complete its filings before the beginning of Q4 2025 and is working with its audit team to resolve outstanding SEC comments [4][5] Audit Challenges - Over the past two years, ILUS has dealt with numerous complexities including new acquisitions, divestitures, and a change in auditors, which have contributed to the delay in the 2024 audited financial statements [3][6] - The company has faced a "perfect storm" of issues, including inherited accounting problems from acquisitions and the need to address SEC comments, which complicated the audit process [6] Future Plans - ILUS is considering filing a Form S-1 registration statement with the SEC and may apply for a listing on Nasdaq, as remaining on the OTC Markets is seen as a constraint on long-term growth [5][6] - The management emphasizes the importance of resolving SEC matters to execute the company's 2026 roadmap and unlock value [6]