We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Starfleet Innotech Inc (PK) | USOTC:SFIO | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0044 | 0.0037 | 0.0049 | 0.00 | 12:45:13 |
"This order was not directed at the Company, only to the brokerage community. According to the DTC website (www.dtcc.com), the purpose of the lock is to protect the integrity of the pool of any shares held by the DTC in their depository for their clearing transactions in the trading systems. In view of the extraordinary trading of June 30th and July 1st in SFIO shares, where well over half of the public float changed hands in two days in a huge volume of transactions, it appeared that certain large brokers and individuals were buying and selling naked.
The DTC dealt with this by imposing a "Global Lock" where brokers MUST match up buys with sell orders that they already have on hand, and cannot execute orders without matching them up. Some shareholders may have found that under these circumstances they could not buy any SFIO shares; their brokers did not have any legitimate shares to sell and could not sell short as is the custom, then going to other brokers to buy and cover, and they may have been desperately seeking shares to cover their own short positions. As you have seen from the past few weeks, with the Global Lock in place, the market has settled down, with domestic and foreign brokers finding shares to cover. The Company has refrained from making any announcements during this time that anyone could use to unduly influence an orderly market.
Eventually the DTC will be satisfied they are not holding any "phantom" shares created by shorters, and we expect the DTC order will be lifted when they are convinced an orderly market will resume and investors will be protected, but only after further actions and publications are soon taken by the Justice Department and the SEC regarding the disposition of charges against our former CEO.
The Company is continuing to prepare new information statements and accounting reports to update the OTCMarkets and provide transparency to investors, and we hope the investing public can understand the difficulty we are faced with in view of the unresolved charges against our former CEO. Obviously we cannot make any comment about that matter at this time, but reserve the right to set the record straight in our disclosure filings and reports with the OTCMarkets. The company denies any wrongdoing by the Company itself; only the former CEO is charged with performing an unauthorized and unlawful act in 2009.
Meanwhile, the Company is conducting business as usual in extending its distribution network and creating new websites. Nominees to the new Board of Advisors are considering their possible acceptance and will be announced shortly."
About Smokefree Innotec, Inc.
Smokefree Innotec, Inc. (Pink Sheets:SFIO), www.smokefree-innotec.com, is in the business of designing, developing, manufacturing and marketing hi-tech, nicotine and non-nicotine cigarette-like delivery devices which are completely smoke and vapor-free and tobacco-free. SFIO's products are designed to protect the non-smoker from second hand smoke and all its effects while providing the smoker a way to enjoy a smoke-free cigarette anywhere, including places where vapor emissions are offensive or smoking tobacco or similar substances is prohibited. Further, our products will allow the smoker to enjoy smoking either nicotine or flavored non-nicotine cigarettes while not having to worry about the offensive dangers and ill effects of regular cigarette smoking. However SFIO's products are not intended for any prevention or therapeutic treatment of any disease.
About GLX - The Global Listing Exchange
The Global Online Investment Community - GLX provides interactive advertising, conference and event coordination, digital IR/PR, journalism, market intelligence, media/marketing, news dissemination, research, video production and ancillary specialty communications services to publicly traded companies worldwide.
The Smokefree Innotec, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6767
A number of statements referenced in this Press Release are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may", "could," or "might" occur. Such statements reflect the current views of Smokefree Innotec, Inc. with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Smokefree Innotec, Inc. does not undertake any responsibility to update the "forward-looking" statements contained in this news release. Disclosures made in this Press Release are limited by good business practice and to that permitted to the public by applicable securities regulations, both Federal and State, including rights granted to shareholders under the Nevada Revised Statutes NRS 78.257 regarding limitations of preferential and selective disclosure of confidential Company information.
CONTACT: GLX - The Global Listing Exchange Ronald P. Russo, Jr. - CEO editor@glxinc.com www.glxinc.com Smokefree Innotec, Inc. George Roth - CEO info@smokefree-innotec.com www.smokefree-innotec.com
1 Year Starfleet Innotech (PK) Chart |
1 Month Starfleet Innotech (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions