"The Company is rock solid, our merger and acquisitions are moving along perfectly. I see no issues and that fact is our phones are ringing and the industry is very excited about what we are offering. The customers are lining up," stated Rich Granville CEO, Yippy Inc.
"Additionally many shareholders have called and emailed regarding the obviously abusive short trading activity and I wanted to give a response to this matter. First, the Company has not entered into any type of financing that would require the sale of stock. We have only used $700K of our $2 million credit line with Magna. We are current with all obligations and we have sufficient access to capital."
"Yippy has 5.79 million shares in DTC, and these are the only Free Trading shares in the market. There are 8,040,000 free trading shares total. Approximately 2.24 million or 25% of the Company's free trading stock is held in certificate form out of the market and will remain out of the market due to being locked up in an agreement till mid-2013. This high frequency shorting that has been occurring in our security the last couple of trading days will be looked into by me personally. I flew into NYC last night and will be getting to the bottom of this shortly," concluded Granville.
About Yippy Inc.
Based in Fort Myers, Florida, Yippy, Inc. is a technology company that specializes in the development of search, data normalization, and aggregation through application service environments for consumer and enterprise markets. Yippy's proprietary web-based product suites are deployed over cloud architecture and provide secure, redundant and maintained Data as a Service for businesses and education markets. The Company also operates several online web properties and educational reference portals. Yippy (OTCQX: YIPI) has been approved to trade on the OTCQX U.S., the intelligent marketplace for the best OTC companies with the highest financial standards and superior information availability. Investors can find current financial disclosure and Real‑Time Level 2 quotes for the Company on www.otcmarkets.com.
For more information please visit: www.yippy.com.
SOURCE Yippy, Inc.