BTB to Release Video Conference with Mark Hunter on the Topic of Naked Short Selling

Rhea-AI Summary

Bit Brother Limited (NASDAQ: BTB) announced a video conference featuring CEO Ralph Jones and former SEC lawyer Mark Hunter focused on combating naked short selling. Scheduled for February 17, 2023, the discussions will cover the detrimental effects of naked short selling on company shares, potential SEC whistleblower claims, and other legal actions against illegal short selling. The Company is committed to fighting back against these practices through its Special Task Force. Bit Brother's business activities include the distribution of specialty tea and ongoing development in cryptocurrency mining technology, initiated in 2021.

Positive

• Engagement of a former SEC lawyer to address naked short selling.
• Establishment of a Special Task Force to actively combat illegal short selling.
• Focus on improving shareholder confidence by addressing market manipulation.

Negative

• Naked short selling poses risks to equity value and investor confidence.
• Future uncertainties regarding cryptocurrency mining operations may impact financial stability.

CHANGSHA, China, Feb. 14, 2023 /PRNewswire/ -- Bit Brother Limited (the "Company," "we", "BTB" or "Bit Brother") (NASDAQ: BTB) Mr. Ralph Jones, CEO of the subsidiary Bit Brother New York Inc, held a video conference with Mr. Mark Hunter, a former SEC enforcement lawyer, to discuss specific details of countering naked short selling. The Company's Special Task Force will continual to fight back against short sales .

The meeting addressed the following issues:

1. How can naked short selling of a company's shares harm the company?

2. How can filing a whistleblower claim with the SEC help resolve the naked short selling problem?

3. What other legal action can a company take against a person who engages in the illegal naked short sale of the company's stock?

The content will be released via BTB's official Twitter @BitBrotherLtd and YouTube channel @bitbrother on this Friday, Feb 17, 2023.

Stay tuned for corporate action, follow the company's Twitter @BitBrotherLtd and CEO's Twitter @JackWuBTB.

About Bit Brother Limited 

Bit Brother Limited (formerly known as Urban Tea, Inc.) was incorporated in the British Virgin Islands as a company with limited liability on November 28, 2011. Our business currently consists of the distribution and retail of specialty tea products. We have conducted research and planning of our blockchain technology and cryptocurrency mining business since 2021. For more information, please visit: www.bitbrother.com

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. These risks and uncertainties include, but not are limited to, the risk factors described by BTB in its filings with the Securities and Exchange Commission ("SEC"). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to:

• Local government's policies and regulatory oversight of cryptocurrency mining operations and our other operations;
• BTB's cryptocurrency mining business is still under development, with many uncertainties in the future direction and integration of BTB's other business segments;
• Failure to manage the newly launched cryptocurrency mining business effectively;
• Failure to access a large quantity of power at reasonable costs could significantly increase BTB operating expenses and adversely affect demand for BTB's mining activities;
• Any significant or prolonged failure in the cryptocurrency mining facilities that BTB operates or services it provides, including events beyond its control, would lead to significant costs and disruptions and would reduce the attractiveness of its facilities, harm its business reputation and have a material adverse effect on its results of operation;
• Security breaches or alleged security breaches of our cryptocurrency mining servers could disrupt BTB operations and have a material adverse effect on its business, financial condition and results of operation; and
• Fluctuation of the crypto price;
• Other risks and uncertainties indicated in BTB's SEC reports or documents filed or to be filed with the SEC by BTB.

Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Related Links
www.bitbrother.com

 

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SOURCE Bit Brother Limited

FAQ

What is the purpose of the BTB video conference on February 17, 2023?

The video conference aims to address issues related to naked short selling and outline strategies to combat it.

Who is participating in the BTB video conference on naked short selling?

CEO Ralph Jones and former SEC lawyer Mark Hunter are key participants in the conference.

How does naked short selling affect Bit Brother Limited shares?

Naked short selling can harm BTB by reducing share value and undermining investor trust.

What legal actions can BTB take against naked short selling?

BTB mayfile whistleblower claims with the SEC and pursue other legal avenues against perpetrators.