CeCors, Inc. Issues Statement Regarding Unauthorized Stock Promotion

Rhea-AI Summary

CeCors, Inc. (OTC PINK:CEOS) announced on July 26, 2022, its awareness of unauthorized promotional activities affecting its stock, highlighted by a badge from OTC Markets Group. The company denies any involvement with ANC, LLC or Bullish Charts, who reportedly conducted the promotions. The promotional activities led to a decrease in stock price but had a marginal effect on trading volume. CeCors emphasizes that it has not engaged in any promotional activities nor has it entered agreements with any investor relations firms, ensuring its communications are transparent through verified channels.

Positive

• No involvement in unauthorized promotional activities.
• Management conducted a thorough investigation confirming no internal participation in promotions.

Negative

• Stock price decreased due to unauthorized promotional activities.
• Company had to address unverified promotional claims, potentially affecting investor confidence.

CARSON CITY, NV / ACCESSWIRE / July 27, 2022 / CECORS, INC. (OTC PINK:CEOS) ("CeCors," "PsyKey", or the "Company"), an innovative wellness company that specializes in the research, development and commercialization of mycology-based formulations, today announced that on July 26, 2022 it was made aware of a promotion badge OTC Markets Group added to the Company's trading symbol, representing unauthorized promotional activities surrounding the Company's common stock.

"Neither management nor consultants of CeCors or any of our subsidiaries have engaged or communicated with ANC, LLC. We are unaware of who ANC, LLC. is, and CeCors does not knowingly participate in any sort of Stock Promotions. All of our Company's public communications are conducted via PsyKey's Twitter account, verified Press Releases, and posted to the OTC Markets," stated Sukhinder Kalsi, Director and Chief Financial Officer of CeCors, Inc.

1. In summarizing the Company's understanding of the promotional activities, please see the following:

a. The Company became aware of an unauthorized stock promotion on July 26, 2022, via a stock promotion flag placed on the OTC Markets Group site to CeCors trading symbol.

b. The promotional activity had a marginal effect on the Company's daily trading volume, which resulted in a price decrease.

c. The Company has learned that the stock promotion is being run by the following: Bullish Charts, and ANC, LLC. The Company has no knowledge of this promotion and has no agreement with any of the named entities. It appears that the entity running the promotional campaign was paid on a Cost-Per-Click basis which may have exceeded $1,000 in cash from an unknown third party as compensation for the distribution of the advertisement. The article further states that Bullish Charts was compensated up to ten thousand dollars ($10,000) electronically by ANC, LLC to conduct a two-day "726-2722" investor relations advertising marketing campaign.

The newsletter published by the BullishCharts Team is owned by MJ Capital, LLC, the Financial Marketing Group LLC and PennyStockLocks LLC. The Company has no knowledge of any of these companies and has not been contacted by them.

The promotional material generally refers to news releases the Company has published. The Company does not endorse, support, or encourage any third-party promotions related to the Company, its stock or its stock performance.

2. Pursuant to OTC's guidance regarding "Stock Promotion: Best Practices for Issuers," the Company has conducted a thorough investigation of its management, employees and consultants, and has determined that none have been or are currently involved in the stock promotion, nor has any sold or purchased the Company's securities within the period leading up to, during, or after the promotional activity.

3. The Company does not believe the information provided in the promotional materials is materially misleading.

4. After inquiry of management, directors and control persons, its officers, any controlling shareholders (defined as shareholders owning 10% or more of the Company's securities), and any of its third-party service providers, each have confirmed that they have not been involved, directly, or indirectly, in any way (including payment to a third-party) with the creation, distribution, or payment of promotional materials related to the Company and its securities.

5. After inquiry of management, directors, control persons, and third-party service providers, the Company, its officers, directors, and any controlling shareholders, or any third-party service providers, it has been determined that none have sold or purchased the Company's securities within the past 90 days.

6. The Company has not during the past twelve months, entered into any agreements with or engaged in any agreements with any Investor Relations or Professional Relations Firms.

7. The Company has issued shares and/or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance:

1. On November 30, 2021, the Company entered into a Convertible Promissory Note (Note) with Airam Capital (Aldo Rotondi) in the amount of $100,000. The date of maturity is November 30, 2023, and the Note can be converted at 20% discount from the market closing price on the day of receipt of a conversion notice.
2. On November 30, 2021, the Company entered into a Convertible Promissory Note (Note) with Munish Nanda in the amount of $100,000. The date of maturity is November 30, 2023, and the Note can be converted at 20% discount from the market closing price on the day of receipt of a conversion notice.
3. On November 30, 2021, the Company entered into a Convertible Promissory Note (Note) with Robert Oswald in the amount of $100,000. The date of maturity is November 30, 2023, and the Note can be converted at 20% discount from the market closing price on the day of receipt of a conversion notice.
4. On November 30, 2021, the Company entered into a Convertible Promissory Note (Note) with Zlabs Canada Inc. (Olesya Barakina and Taraneet Reehal jointly) in the amount of $100,000. The date of maturity is November 30, 2023, and the Note can be converted at 20% discount from the market closing price on the day of receipt of a conversion notice.
5. On April 13, 2022, 10,000,000 shares of common stock were issued to Joseph Pavlik and 10,000,000 shares of common stock were issued to John Frank Georges pursuant to an acquisition agreement wherein CeCors acquired Nutra-Rox, LLC.

The Company encourages investors to rely only on information that is publicly filed and released by the Company.

Shareholders and interested parties are encouraged to follow @PSYKEY on Twitter for all Company updates.

About PsyKey Inc.

PsyKey, Inc. Is an innovative wellness company that specializes in the development and commercialization of mycology-based entheogenic, adaptogenic, and nootropic ingredients and formulations. From functional to psychedelic PsyKey believes in the magic of mushrooms.

As part of our optimal wellness strategy, PsyKey understands the importance of access to support services and healthcare professionals and is engaged in the development of tools that will aid in removing barriers and providing inclusivity.

For further information:

Publicly traded company (OTC PINK:CEOS)
Website: www.psykeyworld.com
E-mail: info@psykeyworld.com
Follow us on Twitter: https://twitter.com/PsyKeyworld

Forward-Looking Statements:

Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward- looking statements.

SOURCE: CeCors, Inc.

View source version on accesswire.com:
https://www.accesswire.com/710074/CeCors-Inc-Issues-Statement-Regarding-Unauthorized-Stock-Promotion

FAQ

What prompted CeCors, Inc. to issue a statement about stock promotion?

CeCors became aware of unauthorized promotional activities that led to a badge being added to its trading symbol on July 26, 2022.

Did CeCors, Inc. engage in the stock promotions mentioned in the press release?

CeCors, Inc. confirmed that it did not engage with ANC, LLC or any promotional activities related to its stock.

What impact did the unauthorized promotions have on CeCors, Inc.'s stock?

The unauthorized promotions resulted in a decrease in the company's stock price, although the trading volume was marginally affected.

Who conducted the unauthorized stock promotion for CeCors, Inc.?

The promotions were allegedly run by Bullish Charts and ANC, LLC, which CeCors claims to have no association with.