FogChain Comments on Promotional Activities
VANCOUVER, BC and SAN CARLOS, CA / ACCESSWIRE / September 18, 2018 / (OTCQB: FOGCF; CSE: FOG; FWB: MUU3) FogChain Corp. (“FogChain” or the “Company”), announced today that it has been requested by the OTC Markets Group, Inc. (“OTC Markets”) to comment on recent promotional activity concerning its common shares.
On September 14, 2018, OTC Markets informed the Company that it had become aware of promotional literature encouraging investors to purchase the Company’s common shares and making certain statements regarding the potential returns on such investment, including certain promotional newsletter emails. Until being so informed, the Company was unaware of both the promotional activity, and its nature and content, the responsible parties, and the extent of the dissemination of the newsletter e-mail that was a part of the promotional activity. The Company has been informed that this promotional activity coincided with higher than average trading volume in the Company’s shares although the trading prices of the Company’s shares has remained relatively flat.
The promotional materials about which OTC Markets inquired of the Company were prepared and disseminated by third parties unknown to the Company. The Company was not involved in the preparation or dissemination of the promotional materials, made no payments in relation thereto, and has no agreements with the parties that prepared and disseminated them. The company had no editorial control over the content of the promotional materials.
The Company and its officers have not, directly or indirectly, authorized or been involved in any way with the creation or distribution of the promotional materials referenced above, including the promotional newsletters referenced above. The promotional materials referenced in OTC Market’s inquiry included contents from press releases that were issued by the Company. Neither the Company nor its officers reviewed or approved the editorial content that was a part of such promotional materials.
The Company previously provided factual information and materials about the Company and its activities to One22 Media LLC, which also prepared an information sheet that was reviewed and approved by the Company. The Company engaged One22 Media LLC for business development, public relations and media relations purposes. The Company did not review or have any editorial control over any other materials and made no payments to any other third parties in relation thereto.
The Company has determined that certain statements included in these newsletters related to the Company and its business might be read as misleading and/or incomplete and readers should not place undue reliance on these newsletters. Specifically, the Company does not condone the use of sensational language to describe the Company’s business prospects or the growth potential of the Company’s industry. Further, investors should disregard comparisons made between the Company and its larger, more established competitors, specifically the Company does not condone any comparison between the investment potential of the Company’s common shares and the actual price growth of the Company’s competitors or any comparison between the Company’s potential market cap growth and the actual growth of its competitors. The Company encourages investors to review the business and prospects of the Company on its own merits and not based on a comparison to the success of the Company’s competitors. The Company does not condone any statements made regarding the urgency of investing in the Company’s common shares or any other similar statements. Finally, the Company notes that investing in the Company’s securities involves certain risks and uncertainties which investors should review prior to making any investment decision. The Company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with Canadian securities regulators, available at www.sedar.com.
The Company has no opinion as to whether or not and/or the extent to which the promotional activity affected trading activity because of the many factors that affect trading activity generally, which may include promotional activities as well as the volatile nature of the emerging industry in which the Company is involved and the prior issuance of public news releases. The Company had previously issued over the preceding several weeks press releases and reports regarding the completion of the acquisition of Quilmont Solutions, Inc., a profitable software development technology and solution provider, the Company’s filing of a new patent covering secured data access control using localized cryptographic technology and that the Company’s rapid application development platform, RadJav, had finalized its integration with Google’s Chrome DevTools. The Company does not know the relative influence of these announcements on the trading activity of the Company’s shares compared to the promotional campaign.
To the Company’s knowledge, after inquiry of its management, neither the Company, nor any of its officers, directors, controlling shareholders (shareholders owning 10 per cent or more of the Company’s securities) or any third party service providers (a) have been involved with the creation or distribution of the promotional materials related to the Company and its securities (other than One22 Media LLC), nor (b) have sold or purchased the Company’s securities within the past 90 days.
Since completing its reverse takeover on May 24, 2018, the Company has not issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
About FogChain Corp.
FogChain (OTCQB: FOGCF; CSE: FOG) is a fully integrated, end-to-end software development life cycle (SDLC) and quality assurance solutions provider. Combined with a decentralized Fog (edge network) and high-performance application development platform, FogChain’s suite of services and technology provides application development at scale with greater speed, efficiency and at a lower cost. With the recent explosive demand for more edge computing and security within the Micro-Service, IoT, mobile data and driverless vehicle space, FogChain’s Build-Once Deploy-Everywhere software architecture provides developers with a suite of tools and resources that bridges devices, operating systems, and the ability to build and launch exciting new applications in a unified environment. Led by a team of Cloud and SaaS veterans, FogChain is uniquely positioned to be a leader in the next super wave of the $500 billion software development market. Learn more at www.FogChainInc.com
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FORWARD LOOKING STATEMENTS
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the terms and conditions of the Transaction; use of funds; and the business and operations of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE: FogChain Corp.https://www.accesswire.com/512162/FogChain-Comments-on-Promotional-Activities