Momentum Players

[Themistocles_I]

Gifa, Inc. Reports on Its Efforts to File Its Periodic Reports (GIFX)
https://www.globenewswire.com/news-release/2020/07/24/2067470/0/en/Gifa-Inc-Reports-on-Its-Efforts-to-File-Its-Periodic-Reports.html


SAN DIEGO, July 24, 2020 (GLOBE NEWSWIRE) -- Gifa, Inc., a Nevada corporation ("GIFA," the "Company," "we," "us," and "our") (SYMBOL: "GIFX"). Mr. Yusuf Kisa announced today that "We have made financial arrangements and instructed our advisors to complete the preparation and filing of certain additional periodic reports with the U.S. Securities and Exchange Commission for our 2017 fiscal year and thereafter complete and file additional reports for our 2018 fiscal year and the fiscal years thereafter. We are hopeful that, as circumstances allow, we can complete these efforts in the near future."

Mr. Kisa further noted that on March 13, 2020 and in accordance with governmental guidelines, "We adopted and implemented certain internal policies to ensure that a majority of our staff are able to work from home. In every way, we remain fully committed to the health and wellbeing of our staff, customers, and friends, as well as ensuring that our high level of service and support are not unduly compromised by the global pandemic."

Mr. Kisa further stated that, "Since our headquarters are located in downtown Lefkosa, Turkish Republic of Northern Cyprus, we have worked with the government and our fellow citizens in in fighting the pandemic as well. As a country, we are proud of our successful fight against the pandemic. As of this date, there have been only 131 cases of COVID-19 virus infection and a death toll of four. While the global pandemic has injected many uncertainties in the global business environment, we were pleased that on May 4, 2020, the government took steps to implement a phased reduction in the lockdown and we are hopeful that further progress will be achieved in fighting the global pandemic in coming months."

About Gifa, Inc.

On September 26, 2017 we completed certain changes that resulted in the election of Mr. Ilksen Yesilada and Mr. Yusuf Kisa as Directors of the Company. As a result, an aggregate of 66,550,660 shares of our Common Stock that were originally issued to our founder were returned to the Company as treasury stock. We also issued an aggregate of 100,000,000 shares of common stock to persons associated with Mr. Yesilada and later filed an Amendment to our Articles of Incorporation: (a) to change the Company's name to GIFA, Inc.; (b) to reduce the number of authorized Common Stock to 500,000,000 shares; and (c) to authorize 10,000,000 shares of Preferred Stock.

In 2018 we filed our 2016 Annual Report on Form 10-K and certain Quarterly Reports on Form 10-Q with the Securities and Exchange Commission. As previously reported and on September 30, 2018, we completed the divestiture of our then-existing subsidiary, Firefish Private Network, Ltd., to the Company's founder, Harshawardhan Shetty, M.B.A. (the "Divestiture") and on the same date, we acquired (the "Acquisition") nearly all of the outstanding capital stock of GIFA Holding Limited, a company domiciled in the Turkish Republic of Northern Cyprus ("Gifa Holding"). As a result of and following the Divestiture and the Acquisition, our business and operations have been conducted solely by Gifa Holding and its subsidiaries.