Breaking News Alert: Yippy Inc. (OTCQX: YIPI) Affirms Company Actions and Status. Yippy (OTCQX: YIPI) CEO, Rich Granville, reported the following to his shareholders, "The Company is rock solid, our merger and acquisitions are moving along perfectly. I see no issues and that fact is our phones are ringing and the industry is very excited about what we are offering. The customers are lining up."
Mr. Granville went on to say, "Additionally many shareholders have called and emailed regarding the obviously abusive short trading activity and I wanted to give a response to this matter. First, the Company has not entered into any type of financing that would require the sale of stock. We have only used $700K of our $2 million credit line with Magna. We are current with all obligations and we have sufficient access to capital."
"Yippy has 5.79 million shares in DTC, and these are the only Free Trading shares in the market. There are 8,040,000 free trading shares total. Approximately 2.24 million or 25% of the Company's free trading stock is held in certificate form out of the market and will remain out of the market due to being locked up in an agreement till mid-2013. This high frequency shorting that has been occurring in our security the last couple of trading days will be looked into by me personally. I flew into NYC last night and will be getting to the bottom of this shortly," concluded Granville.
This type of proactive approach and hands on involvement is exactly what investors look for. Sometimes investors invest in management rather than the product or service a company is offering. And, based on his current actions and statements, Rich Granville certainly has those qualities. Regardless of the recent short trading in Yippy (OTCQX: YIPI) stock, this company seems to be in good hands.
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