Financial Gravity Companies, Inc.

LAKEWAY, Texas, Jan. 27, 2023 /PRNewswire/ -- Financial Gravity Companies, Inc. (OTCQB: FGCO), today announced the filing of a Form 15 with the Securities and Exchange Commission (the "SEC"). The Company filed the Form 15 with the SEC under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), to terminate the registration of its common stock under Section 12(g) of the Exchange Act and to suspend its reporting obligations under Section 15(d) of the Exchange Act. The Company is eligible to suspend its reporting obligations because it has fewer than 300 holders of record of its common stock and less than ten million dollars in assets.

Scott Winters, Chief Executive Officer, commented on the announcement with the following statement: "The Company's decision to deregister was made after careful consideration of the advantages and disadvantages of being a public full reporting company and the increasing expense of compliance with the many SEC related requirements. This decision should result in a benefit to the Company's shareholders by reducing expenses and permitting management to focus its energies on operating and growing the company."

Upon filing the Form 15, the Company's obligation to file periodic and current reports with the SEC, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, was immediately suspended. The Company's duty to file other reports with the SEC will be terminated 90 days after filing of the Form 15. Despite the termination of registration, the Company plans to continue to disclose its financial statements on a quarterly and annual basis through the OTC Markets reporting service. The Company anticipates that its common stock will be quoted on the OTC Markets marketplace in the Pink Sheets, so long as market makers demonstrate an interest in trading the Company's common stock.

About Financial Gravity Companies, Inc.

Financial Gravity Companies, Inc. and Subsidiaries (the "Company") are located in Lakeway Texas. Operations are conducted through wholly owned subsidiaries. Company supports investment advisors and provides tax professionals with a turnkey family office charter. Company helps the tax professionals evolve from the commoditized business of tax compliance to a Family Office Director that runs and manages their own multi-family office. Family Office Directors are able to leverage the Financial Gravity systems, technology, proprietary resources, and deep domain expertise to bring an elevated and holistic financial service experience to their clients that spans proactive tax planning, retirement and estate planning, wealth management, and risk mitigation. The Company has the following active subsidiaries through which it operates its business: Tax Master Network supports over 300 CPA and Enrolled Agent professionals, training them to add crucial tax planning services to support clients. Financial Gravity Asset Management, Inc., is a registered investment advisor with the Securities and Exchange Commission, and provides asset management services to individuals and businesses. FGAM had in excess of $130,000,000 in assets under management as of September 30, 2022. Financial Gravity Enhanced Markets, LLC is an insurance marketing organization and provides insurance products and services to insurance agents or agencies. Financial Gravity Family Office Services, LLC is an RIA that offers financial planning, and wealth management services to clients through investment advisors. Financial Gravity Investment Services, LLC ("FGIS") is an Office of Supervisory Jurisdiction that is affiliated with Kingswood U.S., a broker dealer. Forta Financial Group, Inc. has discontinued its broker/dealer and RIA operations.

Safe Harbor Statement:  Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current expectations or beliefs and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company's control; developments in the demand for the Company's products and services; relationships with the Company's customers and advisors; the mix of and margins on the services provided; the impact of governmental laws, regulations, and orders, including as a result of the COVID-19 pandemic caused by the coronavirus; and competitive factors. Our forward-looking statements speak only as of the time made, and we assume no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company's current expectations and reports previously filed with the Securities and Exchange Commission, including its Form 10-Q for the quarter ended June 20, 2022.

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SOURCE Financial Gravity Companies, Inc.