NEW YORK, NY / ACCESSWIRE / September 9, 2021 / AdvanceTC Ltd (NSX: A88) (OTCQB: ATCLF) (“AdvanceTC” or the “Company”) has been invited by OTC Markets Group Inc. to issue this statement on promotional activity relating to its common stock.
On September 3, 2021, OTC Markets informed the Company that it had become aware of certain promotional activities regarding the Company and its ordinary shares traded on the OTCQB marketplace, including the dissemination of two promotional emails, each dated 3 September 2021, one published by Epic Stocks Picks and the other by Green Leaf Pot Stocks, discussing the company, its products, and the global size of the satellite phone technology market. The publications also contained a summary of several recent press releases issued by AdvanceTC. OTC Markets has provided examples of promotional material for your reference. The Company was not aware of the items prior to receiving them from OTC Markets.
The Company takes seriously its investor relations practices, including its obligations to disclose material information that can reasonably be expected to have a material effect on the market price or value of its assets. securities.
For your information, the common shares of the Company have been traded for many years on the National Stock Exchange of Australia (NSX) under the symbol A88. The Company has sought to have its shares traded on the US markets and to provide information about the Company. The Company has requested that its common shares be accepted for trading in the over-the-counter markets. The shares were accepted for trading in early 2021, and the Company was granted DTC eligibility by The Depository Trust Company for its shares in the over-the-counter markets as of March 5, 2021. The Company initially obtained deposited 8,000,000 of its common shares with DTC.
As part of the Company’s efforts to grow its brand and awareness in the United States, the Company has engaged Strattner Group (“Strattners”) to make presentations to investment banks and brokerage firms, attorneys, to consultants, public relations firms, investor relations companies, brand awareness companies and digital marketing companies with the aim of helping the Company achieve its goal of increasing its brand awareness in the market and cause the Company’s shares to trade in the US markets.
Until August 2021, Strattners worked with several companies to increase awareness of the company. In addition, since the Company’s shares began trading in the over-the-counter markets, the Company has issued several press releases relating to the achievements and achievements of the Company, all of which have been included on the page of the Company in the over-the-counter markets.
In August 2021, Strattners hired an outside company to provide marketing services. To the knowledge of the Company, this external marketing firm has engaged additional contractors to provide marketing services, including Epic Stock Picks (“Epic”) and Green Leaf Pot Stocks (“Green”), the companies that have published newsletter emails.
To the best of the Company’s knowledge, Epic Stock Picks (“Epic”) is a third-party marketing and advertising company that provides content distribution and advertising services. Green Leaf Pot Stocks (“Green”) appears to have a similar business plan. Epic and Green declare that their newsletters are owned and operated by Link Media.
Each of the bulletins presented factual statements regarding the Company, its business and its industry, apparently taken from the Company’s press releases. Neither the company nor Strattners consulted or had any editorial control over the documents, and did not review the documents for factual accuracy or even see them before they were released. While the Company does not believe that factual statements in newsletters based on past Company press releases were false or misleading, both newsletters included information and language that went beyond factual statements in press releases. of the society. As stated, neither the Company nor Strattners had any control over the content of the promotional material.
Since the Company’s shares began trading in the over-the-counter markets, the trading volumes of the Company’s common shares on the OTCQB have been relatively small and sporadic. The Company acknowledges that the volume of transactions on September 3, 2021, the date of the two newsletters referenced above, was significantly higher than previous daily volume levels, and that the price has seen an increase on that date compared to that of the previous trading days.
As indicated, neither the Company nor its officers or directors have been involved in creating the information contained in the bulletins, other than information gleaned from the Company’s press releases, which press releases have been prepared and issued by the society.
After investigation, the Company confirms that it is not aware of any of its directors and control persons, of its officers, directors or shareholders holding 10% or more of the securities of the Company, who could have, directly or indirectly, be involved in any way with the creation or distribution of promotional material related to the Company and its titles, other than the preparation of Company press releases the substance of which has been included in the newsletters references. As noted above, Strattners participated in the engagement of the external marketing firm which engaged Epic and Green, and advanced funds to the external marketing firm for partial payment for the marketing services. However, Strattners did not play any role in the creation or distribution of any promotional material or newsletters.
After due investigation of management, directors, control persons and any third party service provider, the Company can confirm that neither the Company, nor its officers, directors, majority shareholders or third party service providers ‘have sold or purchased the securities of the Company during the past 90 days, except that Strattners has sold approximately 1,289,857 common shares of the Company during the past 90 days.
Except as stated above, the Company has not engaged any third party vendor to provide investor relations, public relations, marketing or other related services, including promotion of the Company or its securities during the last twelve months.
The Company has not issued any convertible instrument allowing conversion into equity securities at prices which constituted a discount from the market rate in force at the time of the issuance of these convertible instruments. The Company has also not issued shares at a discount to the market price.
About AdvanceTC Limited
AdvanceTC is a leading company specializing in the design, development and marketing of high-tech mobile wireless telecommunications and computing devices since 2005. AdvanceTC W3, a full-featured Windows microcomputer integrated with cellular telephony capabilities and the Xplore X7, the world’s first Android smartphone with satellite messaging. and emergency service, entirely designed and developed using its own patented technology and technical innovation.
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This press release may contain forward-looking statements relating to the information discussed and the future potential of AdvanceTC. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “intend”, “anticipates”, “expects”, “anticipates” and similar expressions. All statements other than statements of historical fact included in this press release are forward-looking statements that involve risks and uncertainties. There can be no assurance that forward-looking statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements.
The Company cannot guarantee that a forward-looking statement will materialize and the reader is cautioned not to place undue reliance on forward-looking information. This information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company expressly disclaims any intention or obligation to publicly update or revise any of the forward-looking statements included, except as expressly required by ‘Australia or the United States. securities laws.
THE SOURCE: AdvanceTC Ltd
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