CORONA, Calif., Oct. 7, 2019 /PRNewswire/ -- GP Solutions, Inc. (OTC: GWPD) announces today that trading of the Company's common stock on the OTC Pinks is expected to recommence at the opening of the market on October 17, 2019. The SEC had issued a 10-day temporary trading suspension on October 3rd under Section 12(k) of the Exchange Act citing its concerns about (1) the adequacy and reliability of publicly available information concerning the Company, including a certain social media post issued by the Company; and (2) possible manipulative trading in the Company's stock, including certain transactions executed between March 12 and August 27, 2019.
The Company has reached out to the SEC's New York Regional Office to address and resolve these concerns.
The Company is confident that it has fully complied with providing investors "current information" as required by with Rule 15c2-11 of the Exchange Act by meeting OTC Links' Alternative Reporting Standards, including, but not limited to, filing annual and quarterly disclosure statements on the OTC Markets' website as well as an annual Attorney Letter opining that the information posted by the Company on the OTC Markets News Service includes all of the information that a broker dealer would be required to obtain from the Company to publish a quotation for the Company's securities under Rule 15c2-11 of the Exchange Act and complies as to form with the OTC Markets Guidelines for Providing Adequate Current Information. On September 20th, the Company filed a Form 1-A for a Reg A+ Tier 2 offering with the SEC containing audited financial statements for years ended December 31, 2018 and 2017 and which is currently being reviewed by the SEC.
"We respect the Commission and look forward to resolving any issues expeditiously and effectively. This is a unfortunate but temporary bump in the road for our company and shareholders," commented George Natzic, CEO. Natzic continued, "Maintaining a high standard of transparency and clarity not only for our shareholders but for the investment community in general has always been and remains our highest priority."
About GP Solutions, Inc.
GP Solutions, Inc. provides a state of-the-art, environmentally optimized growing system for growing high quality specialty crops, specifically leaf crops, including many varieties of herbs. GP Solutions' standalone soil and hydroponic system contains everything needed to grow fresh produce, giving GP Solutions' customers the flexibility of location. GP Solutions' system can be placed anywhere with power and potable water, providing growers easy access to the harvest. With a Grow Pod, the GP Solutions is "Desert-to-Arctic" ready and optimized for high yield. Pods from GP Solutions are ready and optimized for year around production. With Grow Pod produce can be grown on-site, virtually eliminating the expensive and lengthy supply chain that generally exists between the farmer and the consumer. GP Solutions systems can be configured with solar power and water re-capturing systems. GP Solutions has developed a virtually sealed environment that can be completely self-sufficient off the grid.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements.
Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE GP Solutions