SINGAPORE, Aug. 5, 2019 /PRNewswire/ -- On August 1st 2019, New Asia Holdings Inc. (OTCQB: NAHD), (the "Company") received correspondence from the OTC Markets Group Inc. stating that it has become aware of recent promotional activities touting the Company and encouraging investors to purchase Company shares of common stock.
On August 1st, 2019, the Company was made aware of the promotional activities through the above correspondence from OTC Markets. The promotional activities involve certain publicly-disseminated promotional newsletters and information encouraging investors to purchase the Company's common stock. Company information contained in the promotional material seems to have been extracted from publicly available information including, without limitation, the Company's: (i) OTC Market profile, (ii) website, and (iii) SEC filings. It appears that the promotional activity prompted a substantial upward spike in the Company's trading price and volume
The information contained therein is generally accurate as to the Company's business and technologies, however, numerous statements in such promotional materials, which the Company views as overly promotional, were independently added by the unknown authors of such promotional materials. Such statements encourage investors to purchase the Company's common stock. The Company wishes to emphasize that these statements only express the views of the authors of the promotional material. The Company disclaims any exaggerated or potentially misleading information contained in such promotional materials. In particular, the Company disclaims any statements regarding future revenues, earnings or income and any statements regarding potential future increases in the price of the Company's common stock.
Prior to receiving the correspondence from OTC Markets, the Company was completely unaware of the promotional material and related promotional activities. Furthermore, the Company is unaware of the full nature of the promotional activities and the extent of their dissemination. The promotional materials were prepared and disseminated by third-parties unknown to the Company and the Company had no editorial input and/or control over the contents of such promotional materials. For the avoidance of any doubt, the Company: (i) was not involved in the preparation and/or dissemination of such promotional materials, (ii) did not pay any compensation or consideration to any party in relation thereto and (iv) has no relationship whatsoever with the identified parties that prepared and disseminated such promotional materials.
Immediately upon learning of these promotional activities, the Company conducted a detailed internal evaluation of its Officers, Directors and control shareholders (those owning 10% or more of Company common stock). The Company herewith confirms that, to the best of its knowledge, no Officer, Director and Control Shareholder were involved, directly or indirectly, in the creation, distribution or payment of the promotional materials. Furthermore, to the best of Company's knowledge, no Officers, Directors or Control Shareholders have sold or purchased Company securities within the past 90 days prior to August 1, 2019 .
Within the past 12 months, the Company has not engaged any third-party service providers to provide investor relations services, public relations services, marketing, or other related services including the promotion of the Company or its securities. All investor relations services are carried out in-house by an associate under the supervision of the Company's management. Furthermore, the Company uses a highly reputable entity – PR NEWSWIRE – for the issuance of its press-releases.
The Company further confirms that at no point since the Change of Control that occurred on December 24, 2014 to the present day, has the Company issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the market rate at the time of the issuance.
About New Asia Holdings Inc.
New Asia Holding Inc. (OTCQB: NAHD) provides the financial community with highly advanced, proprietary, neural trading models. The Company's state-of-the-art, trainable, algorithms emulate aspects of the human brain, providing its algorithms with a self-training ability to formalize unclassified information and thus develop an enhanced ability to make forecasts based on the historical information and other data available at their disposal.
For further information, please contact:
Jose A Capote, Vice President and Secretary
11 Beach Road, #06-01
Singapore 189675
enquiry@newasiainc.com
Cautionary Statement Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company's mission statement and growth strategy, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
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SOURCE New Asia Holdings Inc