MIAMI, FL / ACCESSWIRE / May 16, 2024 / Psycheceutical Bioscience, Inc. ("Psycheceutical" or the "Company") (OTC PINK:BWVI), a bioscience company dedicated to developing cutting-edge technologies for the next generation of neurological treatments, announces the Company's continued inability to undertake certain corporate actions (name and symbol change, M&A, Reverse Split etc.) due to uncorrectable regulatory filing deficiencies from over a decade ago has remained a significant and overwhelming ongoing challenge to the Company.

Companies in similar situations generally become insolvent and have no choice but to file for bankruptcy. However, the Company is doing everything to avert this outcome.

"The Company has engaged and is working diligently with a series of professionals to find a path forward in these highly challenging circumstances. We expect to release transparent information about our progress in the near future once cleared to do so by counsel." says Neilank K. Jha, MD, Executive Chairman & CEO.

The Company anticipates that its future plan will restore and enhance shareholder value.

About NeuraSeed BCI

NeuraSeed BCI is a next-generation neuroscience company developing innovative deep-brain implantation technology and brain-computer interfaces (BCIs). With the support of world-class neurosurgeons, neuroscientists, biomedical engineers, mechanical & electrical engineers, neuroimaging experts, and more, this revolutionary venture aims to transform the landscape of neurological therapies and enhance the quality of life for individuals worldwide.

Learn more at NeuraSeedBCI.com.

About Psycheceutical Bioscience, Inc.

Psycheceutical Bioscience, Inc. is developing cutting-edge technologies to advance the safe and effective delivery of therapeutic medicines. Powered by a team of FDA drug development veterans, biotechnology experts, and top physicians, Psycheceutical is on a mission to commercialize its precision dosing technologies to provide affordable, life-saving treatments to anyone suffering from central nervous system diseases or mental health disorders.

Learn more at Psycheceutical.com.

Forward-Looking Statements

Certain statements in this press release related to the Company constitute "forward-looking information" within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These uncertainties include, but are not limited to, (i) general market growth for and acceptance of psychedelic-inspired medicines, (ii) capital and credit availability and market volatility, (iii) general economic conditions, (iv) governmental approvals and compliance with regulations, (v) product research and development and clinical trial risks, including the transferability to the US FDA of trial results from trials conducted outside of the US, (vi) incorrect underlying assumptions, and (vii) our future business development, results of operations, and financial condition. These statements generally can be identified using forward-looking words such as "will," "may," "should," "could," "intend," "estimate," "plan," "anticipate," "expect," "believe," "potential" or "continue," or the negative thereof or similar variations. All information provided in this press release is as of the date of this press release, and we undertake no duty to update such information, except as required under applicable law.

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