ROSEVILLE, Minn., June 12, 2023 (GLOBE NEWSWIRE) -- SecureTech Innovations, Inc. (OTC: SCTH), an emerging growth company that develops and markets cutting-edge security and safety devices, products, and technologies such as Top Kontrol and its early-stage cybersecurity and cryptocurrency technology incubator Piranha Blockchain, would like to provide a comprehensive update to its shareholders, partners, and the broader investment community concerning the Caveat Emptor designation recently issued by OTC Markets Group, the parent company to the OTC Pink marketplace where SecureTech’s common stock trades.
On June 9, 2023 SecureTech was informed that its stock had received Caveat Emptor (“CE”) status from OTC Markets. OTC Markets informed SecureTech that this designation was for “Promotion and Public Interest Concern.” Earlier in the week, OTC Markets had also issued a Stock Promotion designation label.
After 30 calendar days, SecureTech may request OTC Markets review the CE designation and have it removed if deemed appropriate. SecureTech is proactively engaged with all relevant parties and intends to request OTC Markets remove both the CE and Shell Risk designations as soon as possible.
As a proud issuer on the OTC Pink marketplace, SecureTech is determined to resolve this matter as swiftly and efficiently as possible. In the meantime, SecureTech would like to reassure the public that business operations will continue as usual and that Management remains dedicated to upholding SecureTech’s core values and commitments.
Management believes we will resolve this matter quickly because:
- SecureTech is and always has been a fully compliant SEC registered company. SecureTech has never missed a filing or been delinquent in its duties to report.
- SecureTech has been selling its groundbreaking Top Kontrol product now for over two years – sales of which continue increasing sales year over year. This trend is expected to continue, especially with the expanded second generation product line release coming in early 2024.
- SecureTech continues successfully executing its business plan and regularly reaches new progress milestones.
- SecureTech is and always will be committed to complete transparent with its shareholders and the investment community.
SecureTech’s President and CEO Kao Lee commented, “Sadly, I cannot always report positive news. While receiving the Caveat Emptor designation is extremely disappointing and, in my opinion, unwarranted, it is merely another obstacle we must navigate on SecureTech’s journey to success. This is not the first such obstacle or disappointment in the life of SecureTech and will most likely not be the last. I look forward to sharing the news with our loyal shareholders when the Caveat Emptor designation has been removed.”
About SecureTech Innovations
SecureTech is an emerging growth company that develops and markets security and safety devices, products, and technologies – our products preserve life, protect property, and prevent crime. SecureTech is the maker of Top Kontrol®, the only anti-theft and anti-carjacking system known that can safely stop a carjacking without any action by the driver. Through its Piranha Blockchain subsidiary, SecureTech is developing advanced cybersecurity technologies for blockchain and cryptocurrency systems and platforms involving cryptocurrency mining, digital asset storage and protection, and cryptocurrency trading platforms. For more information, visit securetechinnovations.com, topkontrol.com, and piranhablockchain.com.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of Management on the dates they are made and expressly qualified in their entirety by this notice. SecureTech Innovations, Inc. (“SecureTech”) assumes no obligation to update forward-looking statements should circumstances or Management’s estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to SecureTech’s filings with the Securities and Exchange Commission, including “Risk Factors” in its Annual Report filed on Form 10-K.
Investor Relations
+1 (651) 317-8990
ir@securetechinnovations.com
