Request on Recent Third-Party Promotional Activity
BOUNTIFUL, Utah, Feb. 16, 2023 /PRNewswire/ -- KwikClick, Inc. (OTCQB: KWIK) ("the Company or "KWIK"), an industry-first, free, multi-purpose social selling platform that utilizes, in part, patented software to pay "waves" of commissions and other incentives, to anyone willing to make a product recommendation electronically or through social media has received a request from OTC Markets Group Inc. ("OTC Markets") to issue a statement about recent promotional activity concerning the Company and its common shares (the "Common Shares").
On February 8, 2023, OTC Markets notified the Company of the electronic distribution of promotional newsletters (the "Newsletters") between February 1, 2023 - February 10, 2023. The three electronic newsletters were published on Epic Stocks Picks.com, StockoftheWeek.net, WallStreetAlerts.org, MakePennyStocksGreatAgain.com, GreenLeafPotStocks.com, and TheWolfofPrimaryStocks.com, respectively, and discussed, among other matters, the Company, the present and potential market for its products and the potential for upside in the trading price of the stock. The Company engaged Link Media LLC pursuant to the terms of a consulting agreement dated January 26, 2023 and paid that Company $90,000 on February 2, 2023. The Consultant Agreement provided that Link Media LLC would distribute publicly available information to the general public by means of advertisements containing profiles of the Company and distribute such information through the above-named website. The resulting publications contained a summary of several recent press releases issued by the Company. OTC Markets provided the Company with the Newsletters for reference. The Company was not aware of the Newsletters' content prior to receiving them from OTC Markets.
To the Company's knowledge, Link Media, LLC is a third-party marketing and advertising firm that provides content distribution, advertising services and newsletter services through various websites including EpicStockPicks.com.
Other than entering into the Consulting Agreement with Link Media LLC, the Company, its officers and management, the directors and control shareholders have not hired any third party service providers to provide investment relations, public relations, or other related services including the promotion of the Company or its securities in the past 12 months.
Each of the Newsletters presented factual statements regarding the Company, its current and planned business, seemingly drawn from the Company's SEC filings and Press Releases. The Company did not review or have editorial control over the Newsletters, and did not review them for factual accuracy or even see them prior to their publication. While the Company does not believe that factual statements in the Newsletters that were based on KwikClick Inc.'s SEC filings and press releases were false or misleading, the Newsletters included information and language that went beyond the factual statements in the Company's SEC filings and press releases. As noted, the Company had no editorial control or oversight over the content of these promotional materials. Neither the Company nor its officers, directors or any controlling shareholder was involved with the creation of the information in the email Newsletters, other than the information that was gleaned from the Company's SEC filings and press releases, which were previously prepared by the Company.
The Company takes its investor relations practices seriously, including its obligations to timely and accurately release material information which might reasonably be expected to have significant effect on the market price or value of its securities. Specific claims in the Newsletters concerning the Company's stock and its upside are highly speculative and should be carefully evaluated based on the Company's latest filings on sec.gov.
The Company has no knowledge regarding and has not formed an opinion about whether the Newsletters affected trading activity, however, the Company acknowledges that trading volume between February 7, 2023 through February 10, 2023, the date of the publication of the Newsletters, was higher than previous daily volume, and that the trading price experienced an increase on that date compared to that of prior trading days.
The Company has been a fully reporting company, filing periodic reports under the Section 13 of the Securities Exchange Act of 1934, since December 31, 2021 and has had its common stock quoted on OTCQB since November 1, 2022.
From November 2022 through February 2023, KwikClick, Inc. issued a number of press releases, reporting material developments and accomplishments, most of which were also filed under the cover of Current Reports on Form 8-K with the Securities and Exchange Commission. These press releases were displayed on the Company's page on the OTC Markets' website.
After due inquiry, the Company confirms that other than as detailed herein, it is not aware of any of its control persons, officers, directors, or any shareholders owning 10% or more of the Company's securities, that may have, directly or indirectly, been involved in the creation or distribution of newsletters or any other promotional materials related to the Company and its securities, other than the preparation of the Company's SEC filings and related press releases, the substance of which were included in the referenced Newsletters. As stated above, the Company signed a Consulting Agreement with Link Media, LLC an outside marketing consultant on January 26, 2023 and paid a total of $90,000 to Link Media LLC pursuant to the terms of that Consulting Agreement. Again, the Company was not involved in the creation or distribution of the Newsletters or any other promotional materials.
After due inquiry, the Company can confirm that neither the Company, its control persons, officers, directors, or any controlling shareholders have sold or purchased the Company's securities within the past 90 days. The Company is not aware of any purchase or sale of the Company's equity securities by Link Media, LLC or any other third party service provider within the past 90 days.
Since the listing of its shares on the OTCQB and the resulting creation of a trading market in its equity securities, the Company has not issued any shares or convertible instruments that allow conversion to equity securities at prices constituting a discount to the current market rate at the time of issuance. In fact, since the creation of a trading market in the Company's equity securities on the OTCQB, the Company has issued no equity securities or convertible instruments.
For more information about KwikClick, Inc., please visit our website at kwik.com.
About KWIK
KWIK is a consolidating social selling platform that offers the potential for increased sales for brands via customer acquisition and engagement. Any brand can easily install and utilize KWIK on their storefront free of charge through simple proprietary API's. Once installed, the patented platform integrates and manages the brand's rewards, reviews, cashback, loyalty, influencer, affiliate, and/or rewards programs. Brands using KWIK have the potential to turn all social media from their consumers, into a solicitation in an unobtrusive manner. Just like sharing a location pin, ANYONE sharing the product link earns a commission from purchasers utilizing the link. Uniquely, all subsequent purchases earn equivalent commissions even when re-purchasing is done directly on the brand's website. KWIK's patented "Waves of Influence program" further pays commissions to the referrer on the friends of their followers who reshare a link. This allows anyone to earn income beyond the span of their followers by simply sharing a link that results in an initial sale. A single share can potentially result in hundreds, even thousands, of waves of earnings possibilities. Visit us at kwik.com
Investor Relations Contact:
Kwik Click Marketing:
marketing@kwik.com
Investor Relations:
IR@kwik.com
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