BOCA RATON, Fla., Nov. 15, 2011 /PRNewswire/ -- RightSmile, Inc.
(PinkSheets: RIGH) would like to take this time to address why
yesterday PinkSheets (OTCMARKETS) decided to place a Caveat Emptor
symbol on our stock, without notifying the Company until after the
close of the market.
When RIGH paid the $3,600 to
reinstate with PinkSheets, the company was told to simply file
quarterly information for the first two quarters to have the "Stop"
sign removed and a "Yield" put in its place. Then, once RIGH
had Attorney letters written and filed, the 3rd quarter financials
it would be upgraded to full "PK" status.
RIGH has been working on this information so it could move
forward with its business plan; now all that has changed.
PinkSheets decided yesterday that RIGH needs to file a 3rd
quarter report with an Attorney letter to become current and not
bother with the first two quarters because of trading volume.
PinkSheets also doesn't believe RIGH should have put out a
press release regarding material information about the company
without filing its financials. RIGH has a much different view
on this matter. The lawsuit has caused price depression and stunted
growth of the company. If the company lost the lawsuit it could
have buried the company. RIGH stands by its decision to
release material information and will continue to do so. If
the Company complies, PinkSheets will remove the Caveat Emptor and
replace it with a "PK" listing.
Although the full PK listing is better for the shareholders and
the company, resources had been used to meet the previous
requirements. The Company has done nothing wrong nor has it
participated in any of the reasons listed under Caveat Emptor on
PinkSheets. This is a case of the Company issuing a press
release regarding material information followed by a market
reaction then PinkSheets' over reaction.
RIGH will comply with PinkSheets and hopes to be able to have
the "PK" listing shortly so it can complete its merger as
planned.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
CONTACT:
Randy Schneider, President, at
561-404-4895
SOURCE RightSmile, Inc.