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Press Release Source: Alchemy Creative, Inc.
Alchemy Creative (ALMY) Reports Naked Short Selling and Actions Taken by Company Thursday March 6, 9:03 am ET
PLANO, Texas--(BUSINESS WIRE)--Alchemy Creative Inc. (Pink Sheets: ALMY - News), a nationally recognized corporation focusing on children's education through multi-media and inventive educational products, announced today that it has been the victim of naked short selling and the actions it is taking to counter the negative impact of same. ADVERTISEMENT
We at Alchemy Creative believe we must respond to certain references to the Company in news articles. It is not our desire to sanction this publicity. The news articles related to disclosures about certain shareholders by other shareholders. We wish to make it clear that while the existence of such shareholders may be true, the disclosure was inappropriate and never sanctioned or condoned by the Company. The Company was not aware of the promotional activity and, once we became aware, we immediately took steps including a demand that the disclosure about our shareholders and other information about our Company stop immediately. It deeply offends us that anyone would seek to compromise the privacy to which we believe shareholders are entitled. In short, we believe truth is no defense when it comes to privacy.
In response to repeated queries about the status of our company, in particular, the recent decline of our company’s share price, Alchemy Creative Inc. provides this open letter to its shareholders, as well as the investment community at large.
As you are probably aware, the share price of Alchemy Creative Inc. stock has declined precipitously during the last couple of weeks of trading to its current levels. I would like to extend my sincerest apologies for any inconveniences this has caused to any of our supportive shareholders. The overall current market is very volatile and unfortunately Alchemy Creative Inc. has not been immune to this volatility. We are currently reviewing internal shareholder documents to discern if any inappropriate trading activity may have contributed to this decline. Naked short selling is a well known problem on the pinksheets and we would put to use all of our available resources to combat any naked short selling of our stock.
Please see yesterday’s Press Release for **********: Alchemy Creative, Inc. (ALMY) SqueezeTrigger Price is $1.91. Approximately 2.8 Million Shares Shorted Since December 2007 According to ********** Research Report at http://new.quote.com/news/story.action?id=MTO065u5491.
Also, the company is filing a complaint with the Securities & Exchange Commission reporting the naked short selling of the company’s stock.
From the beginning, the central philosophy of our company has been to produce products of the highest quality, be as forthcoming as possible to ensure the investment of our shareholders, and to leverage the invaluable relationships the company has been privileged to enjoy over the years with companies such as ExxonMobil, Time Warner, The Meadows Foundation etc.
Notwithstanding the overall market conditions and, more specifically, the current price of our stock, that the company is in very good health and continues to move forward on its initiatives highlighted by the following:
The company has not released any financial information and/or projections, however management of Alchemy Creative Inc. is very aware of the inherent benefits of corporate transparency in this day and age, and as such will continue to explore and evaluate considerations relating to the company seeking a more senior listing which would require the company to become a reporting issuer to the SEC (Securities and Exchange Commission), and as a consequence would further require the company to release its financial information to the marketplace.
We will continue to communicate with you any updates on the current business, as well as any new developing opportunities. We are very serious about increasing the value of your company, and opening the communication lines to our shareholders is vital to our overall success.
We want thank you for your patience, and look forward to delivering very positive news to you in the coming weeks and months.
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.
Contact: Alchemy Creative, Inc. Anthony Christmas, 877-860-3987
-------------------------------------------------------------------------------- Source: Alchemy Creative, Inc.
-------------------- dab Posts: 545 | From: North Hollywood | Registered: May 2006
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