ISM International issues statement on recent stock activity
Company taking steps to identify source of volatility and put corrective action in place.
CLEARWATER, Fla., April 26, 2012 /PRNewswire/ -- ISM International, Inc. (Pink Sheets: ISML) is commenting on recent trading activity and volatility in the company stock and impact on future activities.
During the week of April 16th, shares of ISML experienced volatility not ever experienced before in the history of the company. This volatility appears to have been driven by non-company supported promotional emails sent en-mass across the Internet and on stock message boards. Internal investigation shows irregular activity in the stock being bought and sold, indicating to us that our stock was likely shorted during these high volume days. Investors should review information on ISML at http://www.otcshortreport.com, which indicates that up to 3M shares may have been shorted in this timeframe.
"I believe in full disclosure to shareholders and wish to run this company to the highest ethical standards," states Mario Quenneville , CEO of ISML. "The recent volatility that our stock experienced was not driven from within the company, as we took no steps to hire any newsletters, research groups, stock promoters, nor email blasts. There were no material company events that were released that could have generated this market reaction."
Mr. Quenneville continues, "I am personally using all of the resources at my disposal to investigate our irregular activity and will report back to shareholders the steps we are taking including obtaining a 'NOBO' shareholder list during the period of high activity, investigating all materials that were sent without company consent, and will be reviewing information about those that released information that triggered the extreme market reactions. Our investigation will ensure that those involved are identified and the appropriate regulatory agencies are notified of any improper action that was taken. The company share count remains the same with 50M authorized; 30,691,042 outstanding, and a float of 5,677,405. I look forward to continued execution of our business plan and releasing material information about our MyGirl product line, upcoming media exposure, energy successes, and updates describing how our company vision is coming together."
Contact: Mario Quenneville, 727-542-0700, email@example.com
ISM International is a majority owner of a number of small business including a Flea Market / Mini-Stores complex and a Film studio, is a developer of organic non-toxic products for consumers, and is actively seeking to grow to meet demand within its trademarked products: MyGirl, Superwipes, SwatBra, GotchaGps, and BioSolvant. Company Website: http://www.isml.us
Safe Harbor Statement
This press release contains forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as its future results of operations and financial condition. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of information, future events or otherwise.
SOURCE ISM International, Inc.
More by this Source
International Expansion and DTC Eligibility for ISM
Feb 12, 2013, 13:18 ET
QW Energy Minigrid Green energy passes initial performance tests
Jan 29, 2013, 09:00 ET
A New Green Energy at ISM - QW Energy!
Jan 23, 2013, 14:16 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.