Important Optec Corporate Update Optec Clarification Statement for Incorrect Corporate Share Structure Information Published by OTC Markets on September 17th, 2020

Rhea-AI Summary

OPTEC International, Inc (OTC PINK:OPTI) has clarified misinformation published by OTC Markets regarding its corporate share structure. The erroneous data, dated September 17, 2020, was from 2018 and falsely suggested a 10-1 reverse stock split. This led to a significant sell-off among shareholders. OPTEC notified OTC, which has since corrected the profile. The company reassures shareholders that it has no plans for a reverse stock split and aims to resume fully reporting OTC QB status. OPTEC specializes in electronic LED and UV safety products, addressing pandemic-related safety concerns.

Positive

• OTC Markets has corrected the misinformation regarding share structure, stabilizing investor confidence.
• The company has reassured shareholders that there are no plans for a reverse stock split.

Negative

• The initial incorrect information led to a significant sell-off of the stock, affecting shareholder value.

CARLSBAD, CA / ACCESSWIRE / September 21, 2020 / OPTEC International, Inc (OTC PINK:OPTI) Today announced the company clarification statement for the incorrect information published by OTC Markets on September 17^th, 2020 regarding the corporate share structure.

The OTC updated information OPTI profile published on September 17^th, 2002 was actual information retrieved by OTC from a former company transfer agent and was in fact the share structure as of 2018 and not as September 17^th, 2020. This incorrect information appeared to be an updated share structure confirmed by OTC in the actual published profile display as of August 31^st, 2020 which again was also inaccurate information. This unverified current status information published by OTC Markets created the illusional appearance of a 10-1 reverse split of the company's stock, this was completely inaccurate current information and created a significant sell-off of the stock by shareholders concerned by what appeared to be a noticeable reverse split of the stock.

Upon notification by OPTEC to OTC Markets compliance of the incorrect information and noticeable stock sell-off, OTC Markets immediately removed the incorrect information from the company's profile and is currently updating to the correct information.

OPTEC management would further take this information statement opportunity to assure shareholders, the company has not and has no intention of initiating any type of reverse stock split in the foreseeable future. The company plans to maintain current on-time quarterly and annual alternative reporting with the intent of returning to fully reporting OTC QB status as soon as possible.

About OPTEC International, Inc.

With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies. The company's Safe-Scan product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information visit: www.optecuvc.com.

Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. OPTEC International Inc.

OPTEC International, Inc. Contact: info@optecintl.com Investor Relations: (442) 222-0550.

SOURCE: Optec International, Inc.

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FAQ

What was the incorrect information about OPTEC International's share structure published by OTC Markets?

The incorrect information suggested a 10-1 reverse stock split, which was based on outdated data from 2018.

How did OPTEC International respond to the misinformation published by OTC Markets?

OPTEC notified OTC Markets about the inaccuracies, leading to a prompt correction of the share structure profile.

Is OPTEC International planning to do a reverse stock split?

No, OPTEC has stated that it has no intention of initiating any type of reverse stock split in the foreseeable future.

What is the current status of OPTEC International's reporting to the OTC?

OPTEC aims to maintain on-time quarterly and annual alternative reporting with the goal of returning to fully reporting OTC QB status.