SMX STARTS AN INVESTIGATIVE CAMPAIGN AGAINST "NAKED SHORTS" AS PART OF THE PROCESS, SMX RETAINS MR. JOHN TABACCO OF CEOBLOC TO ADVISE THE COMPANY
On April 4, 2023, SMX (NASDAQ: SMX; SMXWW) announced the retention of John Tabacco from CEOBLOC to combat illegal naked short selling and abusive trading practices. SMX aims to utilize Mr. Tabacco's expertise as part of a broader strategy to address high-volume selling pressures affecting the company's stock values. These efforts are anticipated to enhance stock market representation for its retail shareholders. The company focuses on creating a circular economy and aiding businesses in transitioning to low-carbon operations. Forward-looking statements in the PR caution that actual results could differ significantly due to various risks.
- Retention of expert John Tabacco to combat abusive trading practices.
- Focus on enhancing stock market representation for retail shareholders.
- Recent high-volume selling pressures despite positive company announcements.
- Potential risks related to maintaining share listing on Nasdaq.
Mr. Tabacco of CEOBLOC is a global thought leader in securities lending, clearing and capital markets operations.- As part of the Company's investigation to combat "naked shorts", which is expected to include experts in multiple fields,
Mr. Tabacco will be one of the experts advising on the Company's strategy as it battles illegal naked short selling and other abusive trading practices.
The Company is looking forward to joining forces with
Given recent high-volume selling pressure in parallel with the Company's announcements of positive fundamental developments, SMX believes
About SMX
As global businesses faces new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "will," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: matters relating to the Company's fight against abusive and possibly illegal trading tactics against the Company's stock; successful launch and implementation of SMX's joint projects with manufacturers and other supply chain participants of steel, rubber and other materials; changes in SMX's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX's ability to develop and launch new products and services; SMX's ability to successfully and efficiently integrate future expansion plans and opportunities; SMX's ability to grow its business in a cost-effective manner; SMX's product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX's business model; developments and projections relating to SMX's competitors and industry; and SMX's approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken 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. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company's shares on Nasdaq; changes in applicable laws or regulations; the effects of the COVID-19 pandemic on SMX's business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX's products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX's filings from time to time with the
Follow us through our social channel @secmattersltd
View original content to download multimedia:https://www.prnewswire.com/news-releases/smx-starts-an-investigative-campaign-against-naked-shorts-as-part-of-the-process-smx-retains-mr-john-tabacco-of-ceobloc-to-advise-the-company-301789779.html
SOURCE SMX
FAQ
What is SMX doing to combat illegal naked short selling?
Who is advising SMX in their campaign against naked shorts?
What impact has high-volume selling had on SMX's stock?
When was the press release about SMX's actions against naked shorts issued?
What is the stock symbol for SMX?
