Alchemy Creative (ALMY) Reports Naked Short Selling and Actions Taken by Company
Thursday March 6, 9:03 am ET
PLANO, Texas--(BUSINESS WIRE)--Alchemy Creative Inc. (Pink Sheets: ALMY - News), a nationally recognized corporation focusing on children's education through multi-media and inventive educational products, announced today that it has been the victim of naked short selling and the actions it is taking to counter the negative impact of same.
In response to repeated queries about the status of our company, in particular, the recent decline of our company’s share price, Alchemy Creative Inc. provides this open letter to its shareholders, as well as the investment community at large.
As you are probably aware, the share price of Alchemy Creative Inc. stock has declined precipitously during the last couple of weeks of trading to its current levels. I would like to extend my sincerest apologies for any inconveniences this has caused to any of our supportive shareholders. The overall current market is very volatile and unfortunately Alchemy Creative Inc. has not been immune to this volatility. We are currently reviewing internal shareholder documents to discern if any inappropriate trading activity may have contributed to this decline. Naked short selling is a well known problem on the pinksheets and we would put to use all of our available resources to combat any naked short selling of our stock.
Please see yesterday’s Press Release for BUYINS.NET: Alchemy Creative, Inc. (ALMY) SqueezeTrigger Price is $1.91. Approximately 2.8 Million Shares Shorted Since December 2007 According to Buyins.net Research Report at http://new.quote.com/news/story.action?id=MTO065u5491.
Also, the company is filing a complaint with the Securities & Exchange Commission reporting the naked short selling of the company’s stock.
From the beginning, the central philosophy of our company has been to produce products of the highest quality, be as forthcoming as possible to ensure the investment of our shareholders, and to leverage the invaluable relationships the company has been privileged to enjoy over the years with companies such as ExxonMobil, Time Warner, The Meadows Foundation etc.
Notwithstanding the overall market conditions and, more specifically, the current price of our stock, that the company is in very good health and continues to move forward on its initiatives highlighted by the following:
The company has not released any financial information and/or projections, however management of Alchemy Creative Inc. is very aware of the inherent benefits of corporate transparency in this day and age, and as such will continue to explore and evaluate considerations relating to the company seeking a more senior listing which would require the company to become a reporting issuer to the SEC (Securities and Exchange Commission), and as a consequence would further require the company to release its financial information to the marketplace.
We will continue to communicate with you any updates on the current business, as well as any new developing opportunities. We are very serious about increasing the value of your company, and opening the communication lines to our shareholders is vital to our overall success.
We want thank you for your patience, and look forward to delivering very positive news to you in the coming weeks and months.
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