 Incline Village, Nevada, May 28, 2021 GLOBE NEWSWIRE -- On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the U.S. Securities and Exchange Commission the SEC together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies SPACs the SEC Staff Statement. As previously disclosed, given the scope of the process for determining the appropriate accounting treatment of its outstanding warrants in accordance with the SEC Staff Statement and Accounting Standards Codification ASC 815-40, Derivatives and Hedging: Contracts in an Entities Own Equity, Stratim Cloud Acquisition Corp. the Company was unable to complete and file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 the Form 10-Q by the required due date without unreasonable effort and expense. 