Business
Sugarmade, Inc. Issues Statement Regarding Unauthorized Promotional Activity Involving Its Common Stock
Sugarmade, Inc. Issues Statement Regarding Unauthorized Promotional Activity Involving Its Common Stock.
About this update from Sugarmade, Inc.
[{"type":"text","content":"\n\n\n\nSugarmade, Inc. Issues Statement Regarding Unauthorized Promotional Activity Involving Its Common Stock\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSugarmade, Inc. Issues Statement Regarding Unauthorized Promotional Activity Involving Its Common Stock\nPR Newswire\nMONROVIA, California, Dec. 30, 2019\n\n\n\nMONROVIA, California, Dec. 30, 2019 /PRNewswire/ -- On December 19, 2019, Sugarmade, Inc. (OTCQB: SGMD) (\"the Company\") first became aware of certain unauthorized promotional activities concerning the Company's common stock, when it was provided by the OTC Markets Group, Inc.'s (\"OTC Markets\") Issuer Services division with examples of certain such unauthorized, third-party promotional activities. \nPrior to being contacted by OTC Markets, the Company was neither aware of any such promotional activities, nor had it engaged or authorized such promotional activities by any third party. The Company was not involved, directly or indirectly, with the creation, distribution or payment of the promotional materials related to the Company and its security. The Company had no awareness or editorial control over the content in the materials. The Company takes its investor relations and marketing practices seriously, including its obligations to release material information which might reasonably be expected to have significant effect on the market price or value of its securities.\nThe Company learned from the information provided by OTC Markets that entities using the names \"Insider Financial,\" \"Penny Stock Locks,\" \"Stock Hideout,\" and \"Stock Wire News\" (the \"Entities\") published emails distributed via the internet touting the Company and its business and recommending the purchase of the Company's common stock. Upon conducting due diligence inquiries regarding the unauthorized promotional activity conducted by the Entities, the Company has determined that the content of the promotions contains incomplete and unvetted information with speculative language regarding the Company's business performance and its shares. \nThe Company's management also co...