Business
Gopher Protocol Issues Statement About Recent Stock Trading Activity – Notice to the Public to Rely on Information only Provided by the Company
Gopher Protocol Issues Statement About Recent Stock Trading Activity – Notice to the Public to Rely on Information only Provided by the Company.
About this update from Gbt Technologies Inc.
[{"type":"text","content":"\nPERRIS, Calif., May 24, 2019 (GLOBE NEWSWIRE) -- Gopher Protocol Inc. (“Gopher” or the “Company”) today announced that on May 20, 2019, it was made aware by OTC Markets Group of recent promotional activities surrounding the Company’s common stock. As a result of these promotional activities, OTC Markets has decided to quote GOPH on its Pink® Open Market and in substitution for quoting GOPH on its OTCQB® Venture Market.\n The activities may involve promotional newsletters, styled as “paid announcements” of Stellar Media Group, LLC, which was compensated $15,000 by a third party – WWMG, LLC.  The paid announcements were released under the names, PennyPicks, DamnGood Penny Picks, and BeatPennyStocks.  Each of the paid announcements encouraged investors to put the Company’s common stock on their watch list. These apparent third-party promotional activities coincided with higher than average trading volume and fluctuations in the Company’s stock price. The Company was unaware of any promotional activity until it was informed by OTC Markets.  Further, the Company is unaware of the full nature of the promotional activity, the extent of the paid announcements’ dissemination, or the responsible parties. None of the Company, its officers, directors, employees, consultants, and, to the Company’s knowledge, its controlling or affiliated stockholders (i.e., stockholders who own 10% or more of the Company’s issued and outstanding common stock) has, directly or indirectly, authorized or been involved in any way (including any payments to one or more third-parties) with the authorization, creation, or distribution of any promotional materials, including those noted above; and that none of the Company, its officers, directors, employees, consultants, and, to the Company’s knowledge, the only potentially controlling or affiliated stockholder who sold or purchased shares of common stock of the Company within the last 30 days is an institutional investor that, effective December 3, 2018, purchased a Senior Secured Redeemable Convertible Debenture from the Company.  The Company believes that investor meets the criteria to be considered to be an “affiliate” of the Company. In December 2018, the Company sold and issued certai...