Vancouver, British Columbia--(Newsfile Corp. - March 14, 2019) - Carl Data Solutions Inc. (CSE: CRL) (FSE: 7C5) (OTCQB: CDTAF) ("Carl Data" or the "Company"), has been requested by OTC Markets Group ("OTC Markets") to comment on certain recent promotional activity encouraging investors to purchase the Company's common shares. The Company first became aware of certain promotional third-party newsletter activities through a notification by OTC Markets on March 12, 2019, which were not commissioned by or paid for by the Company.
The Company engaged one third-party firm in February 2019, CK Marketing Group, LLC, to launch a marketing editorial campaign involving certain editorial materials to be posted on the CK Marketing Group, LLC website, beginning in March 2019. The campaign is designed to bring the awareness of the investment community to the Company's progress and data market opportunity but in no event did the Company authorize any recommendation or encouragement to purchase its stock. The Company reviewed the materials that have been disseminated and all information is from the Company web site and filings. All information provided by the Company in respect to this marketing campaign has already been disseminated to the market via press releases, regulatory filings, its public-facing financial landing page and its corporate presentation available on its website.
The Company confirms that it and its officers and directors were not, directly or indirectly, involved in any way with the creation or distribution of promotional third party newsletter materials encouraging investors to buy the Company's stock. The Company confirms that it was indirectly involved with the creation and distribution of marketing material associated with its investor awareness campaign and had limited editorial control over such content, such as to the factual aspects about the company's operations and activities.
Trading volume in Carl's common shares on March 11, 2019 was approximately 500,000 shares and volume on March 12, 2019 was approximately 2,000,000 shares, both days being well above the average trading volume of the past 12 months. The Company attributes the majority of any increased trading volumes on the OTCQB to investors who may for the first time be reviewing the many past news releases disseminated by the Company discussing its new business agreements and new investments in technology.
CK Marketing Group, LLC is the only third-party service provider engaged by the Company to provide investor relations services and is paid $3,000 per month on a month to month basis. In the past 12 months, other service providers included Howe Street Media Inc. for a 15 month period that ended March 1, 2019, Ubika Corporation for a 12 month period that ended March 15, 2018, and Torrey Hills Capital Inc. for a 4 month period that ended August 31, 2018.
Further, after inquiry, the company confirms that none of its management, its officers, directors, any controlling shareholders (defined as shareholders owning 10 per cent or more of the Company's securities) or any third party service providers have, directly or indirectly, been involved in any way (including payment of a third party) with the creation, distribution or payment of promotional materials recommending the purchase of the Company's common stock. Additionally, none of the Company's officers, directors, and, to the knowledge of the company, controlling shareholders or third party service providers sold or purchased shares of common shares of the Company within the last 90 days except for one controlling shareholder who purchased a total of 210,000 shares and sold a total of 200,000 shares in several separate transactions from January 10, 2019 to March 13, 2019 and one director of the Company who sold a total of 330,000 shares in several separate transactions from March 12, 2019 to March 13, 2019. The Company has also not at any point issued common shares or convertible instruments at prices constituting a discount to the current market rate at the time of issuance.
About Carl Data Solutions Inc.
Carl Data Solutions Inc. is an Industrial IoT (IIoT) company that provides next generation collection, storage and analytics solutions for data-centric companies. Building on its recent acquisitions, Carl Data helps clients analyze and model environmental data through a powerful technology agnostic end-to-end platform of smart sensors combined with web-based monitoring, reporting, and predictive analytics applications
Carl Data continues to develop applications that extract value from new cloud-based mass storage services and machine learning (AI) analytics tools to provide the scalability needed to effectively monitor smart cities, utilities and other industrial verticals. This software suite saves clients time and money by amassing information from any sensor or source to create a real-time decision support system with deep insights into how to protect infrastructure and assets. More information can be found at www.CarlSolutions.com.
On behalf of the Board of Directors:
Greg Johnston
President, Chief Executive Officer, Director
Carl Data Solutions Inc.
For further information please contact:
Kimberly Bruce
Corporate Communications
Carl Data Solutions Inc.
Telephone: (778) 379-0275
Email: kimberly@carlsolutions.com
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43433
