Wikisoft Corp. Issues Statement About Promotional Activity Concerning Its Common Stock

Rhea-AI Summary

Wikisoft Corp. (OTCQB:WSFT) announced awareness of promotional activities impacting its stock. Notified on May 5, 2022, by OTC Markets, the company discovered a marketing campaign encouraging WSFT share purchases. ACN LLC compensated $15,000 for a three-day campaign, which included misleading claims about stock performance. Wikisoft clarified that neither management nor significant shareholders were involved in these promotions. The company urged investors to rely solely on official press releases and SEC filings for accurate information.

Positive

• Wikisoft clarified its lack of involvement in promotional activities, potentially protecting investor trust.

Negative

• The promotional activity may mislead investors and affect WSFT's stock price.
• The use of exaggerated claims in promotional materials could damage the company's reputation.

SAN FRANCISCO, CA / ACCESSWIRE / May 9, 2022 / Wikisoft Corp. (OTCQB:WSFT) today announced that it has been made aware of certain promotional activity concerning WSFT common stock. On May 5, 2022, the Company first became aware of certain promotional activities concerning the Company and its common stock, after receiving notification from OTC Markets that online promotional reports encouraging the purchase of WSFT shares may have had an impact on trading activity in the Company's securities. Until informed by OTC Markets, the Company was unaware of the promotional activity and remains unaware of the full nature and content of this activity, the extent of the dissemination or the parties involved. The Company is not affiliated in any way with the authors of the promotional activity identified by OTC Markets.

The campaigns identified describe that they have been compensated as much as fifteen thousand dollars via bank wire from ACN LLC to conduct a 3-day investor relations advertising and marketing campaign (05/04/2022 to 05/06/2022) for WSFT. The Company's officers, directors and 10% holders have not been involved, directly or indirectly, with the creation, distribution, or payment of the promotional materials. The campaign uses previous press releases made by the Company but the campaigns also use common characteristics of misleading and manipulative promotions like:

• Suggesting a promise of a specific future performance of the stock or profit to investors
• Urging the investor to take action immediately and not to miss out on a great opportunity
• Touting performance or profit potential of an issuer's security with unsupported or exaggerated statements about the stock price or its anticipated trajectory.

Certain statements contained in the promotional materials as supplied to the Company by OTC Markets may be materially false and/or misleading. The Company encourages those interested in the Company to rely solely on information included in its press releases combined with its filings and disclosures made with the U.S. Securities and Exchange Commission.

In its investigation into this matter, the Company has made inquiries of its executive officers, directors and controlling shareholders. The Company, its officers, directors and controlling shareholders, have not sold or purchased the Company's securities within the past 90 days. The Company states definitively that the Company, its officers, directors and, to the Company's knowledge, its controlling shareholders have not, directly or indirectly, authorized or been involved in any way with the creation or distribution of promotional materials of any kind.

Further, aside from a Purchase Agreement signed on May 10, 2021 that provides that the Company has the right, but not the obligation to cause White Lion Capital, LLC to purchase up to $20,000,000 of the Company's common stock, from time to time, during the commitment period at 85% of the lowest daily VWAP of the Company's common stock during the five (5) business days beginning on the date on which the Company delivers a put notice to White Lion, the Company has not issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.

During the last twelve months the company has engaged with the following companies to provide investor relations services, public relations services, marketing, or other related services including the promotion of the Company:

• The Company entered into a consulting contract with Milestone Management LLC on 08/01/2022 and amended it on 02/18/21 to delay the campaign until 6/1/2022. The company terminated the contract on 03/14/22. The services have never been carried out. The shares that Milestone Management holds are restricted and the previous service provider has hence not sold any securities within the past 90 days or been involved with the creation, distribution or payment of the promotional material.
• The Company signed a contract on 11/23/21 with North Equities and issued 438,333 restricted shares for the services. The contract was terminated 02/17/22 and no further work has been carried out by North Equities for the company. The shares are still restricted and the previous service provider has hence not sold any securities within the past 90 days or been involved with the creation, distribution or payment of the promotional material.
• The Company has not engaged and/or any unwritten agreements or understandings with other third-party service providers.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

ABOUT WIKISOFT CORPORATION

In today's fast-moving business world of increasing globalization, Wikisoft leverages big data and associated insights from business datasets to improve performance.

In line with this new phase of globalization, Wikisoft believes that there is a growing demand for access to credible and reliable business data. Data is essential to creating the complete view of customers, prospects, investors, suppliers, and partners necessary to power the right decisions.

Our vision is to create opportunity globally by collecting precise data, curating it, verifying it and putting it in the hands of professionals and businesses as consumable business intelligence. We believe in the power of Wikisoft to collect massive amounts of data and deliver it to businesses curated, credible and reliable.

FORWARD-LOOKING STATEMENTS

This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

CONTACT
WikiSoft Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email: investor@wikisoft.com
Investor site: www.wikisoft.com

SOURCE: WikiSoft Corp.

View source version on accesswire.com:
https://www.accesswire.com/700635/Wikisoft-Corp-Issues-Statement-About-Promotional-Activity-Concerning-Its-Common-Stock

FAQ

What promotional activity was reported concerning Wikisoft Corp (WSFT)?

Wikisoft Corp became aware of promotional activities on May 5, 2022, which encouraged the purchase of WSFT shares.

How much was ACN LLC compensated for the WSFT promotional campaign?

ACN LLC was compensated $15,000 for conducting a three-day investor relations campaign for WSFT.

Who was involved in the promotional activities for WSFT?

Wikisoft Corp stated that its officers, directors, and significant shareholders were not involved in the promotional activities.

What should investors rely on for accurate information about WSFT?

Investors should rely solely on official press releases and SEC filings for accurate information regarding WSFT.