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SUNRISE, Fla., June 21, 2019 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Grey: PSIQ) announces its response to the Securities and Exchange Commission ("Commission") temporary Trading Suspension, which commenced at 9:30 a.m. EDT on June 18, 2019, and terminates at 11:59 p.m. EDT on July 1, 2019.
According to the temporary Trading Suspension, the Commission has temporarily suspended trading in the securities of PSIQ because of questions that have been raised about the accuracy and adequacy of information in the marketplace relating to PSIQ’s common stock.
Dan Oran, CEO of PSIQ stated, “We remain committed to providing shareholders the most up to date, accurate and transparent information. We are surprised by the Commission’s decision to suspend trading. We regret the temporary suspension and will do whatever is necessary to maintain investor confidence and comply with regulatory requirements. We’re encouraged by the internal growth of our company, external opportunities and overall health and direction of PSIQ. We plan to amend our pending registration statement on Form S-1, which will include material information about the transactions described in our press releases, as soon as our 2018 audit and March 31st, 2019 review are completed. We appreciate and respectfully request the patience of our shareholders during this temporary Trading Suspension.”
ABOUT PROFILE SOLUTIONS, INC. (“PSIQ”)
Profile Solutions, Inc., has two operating subsidiaries at this time (1) Elite Products International, Inc., is a leading distributor and manufacturer in the cannabinoid (CBD) industry. The Company’s products contain cutting-edge CBD industrial hemp extracts in the form of edibles, creams, oils and salves www.elitehempproducts.com (2) Cannberry Tek, Inc. is a Hi-tech innovative Biotechnology Company which manages various Research & Development (“R&D”) activities with the major focus on the Medical Cannabis industry www.cannberrytek.com
Financial information can be found at https://www.otcmarkets.com/stock/PSIQ/profile. Please visit the company website at www.profilesolutionsinc.com, Facebook at www.facebook.com/eliteproductsintl/, https://www.facebook.com/EliteProductsINTL/, Instagram at www.instagram.com/elite_hemp/, LinkedIn at www.linkedin.com/in/elite-hemp-products-3a863914a/, Twitter at https://twitter.com/incprofile and Blog: https://www.elitehempproducts.com/blog.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Dan Oran, President
Profile Solutions, Inc.
8411 West Oakland Park Blvd.
Sunrise, FL 33351