Business
OLIVEDA International, Inc. Comments on Change of Status on OTC Markets Website and Plans to Address 'Caveat Emptor' Designation
OLIVEDA International, Inc. Comments on Change of Status on OTC Markets Website and Plans to Address 'Caveat Emptor' Designation.
About this update from Oliveda International, Inc.
[{"type":"text","content":"\n \n \n OLIVEDA International, Inc. Comments on Change of Status on OTC Markets Website and Plans to Address 'Caveat Emptor' Designation\n \n \nOLIVEDA International, Inc. Comments on Change of Status on OTC Markets Website and Plans to Address 'Caveat Emptor' Designation\n\nManagement assures stockholders that the company has not engaged in any promotion, nor authorized any 3rd parties acting on its behalf to engage in any promotional activity\n\n \n SANTA MONICA, CA--(Marketwired - Oct 4, 2017) - OLIVEDA International, Inc. (OTC PINK: OLVI), a leading international natural cosmetics innovator, today commented on what it believes is an incorrect change of its status on the OTC Markets website to \"Caveat Emptor.\" \n Responding to the change, Thomas Lommel, Chairman and CEO of OLIVEDA International, Inc., commented, \"According to a representative of OTC Markets Group, which operates OTCMarkets.com, some sort of promotional campaign was initiated using OLIVEDA's stock symbol. OTC Markets recently became aware of the promotional activity and changed OLVI's status to 'Caveat Emptor.' In an email received by the company, OTC Markets cited 'news releases, spam email, and newsletters, whether published by the issuer or a third party,' as the type of promotional/spam activity that could trigger the Caveat Emptor designation.\n \"First, we would like to assure our stockholders unequivocally that neither the company nor any member of its management team initiated or participated in any promotion or awareness program for OLVI stock. Furthermore, neither the company nor any member of its management team authorized any 3rd party to engage in any promotion or awareness program on the company's behalf. \n \"Until today, no press releases, email, newsletters -- no information of any kind -- was distributed by OLVI or authorized to be distributed by any 3rd party on behalf of OLVI since the company's last press release, issued on June 30, 2017. The only distribution used for the June 30 press release and all previous company press releases, since the current management team was appointed, was via the newswire with no promotional or spam distribution whatsoever.\n \"Needless to say, we are frustrated by what we believe to be an incorrect change in our status on the OTC Markets and the resulting loss in value suffered by ou...