Eco-Trade Provides Shareholders with an Update Regarding Trading Halt - Company Working with FINRA to Resolve
April 17 2013 - 10:52PM
Business Wire
Eco-Trade Corp. (OTCQB: BOPT), an independent oil and gas
exploration company (the “Company”), today commented on its recent
trading halt by informing shareholders of its communications with
FINRA, and that Company has been taking a proactive stance and has
been in direct contact with FINRA regarding short activities and
solutions to protect shareholder value.
The halt was conducted under FINRA Rule U3 - Trading Halt - Extraordinary Events - Trading is
halted due to FINRA’s determination that an extraordinary event has
occurred or is ongoing that has had a material effect on the market
for the OTC Equity Security or has caused or has the potential to
cause major disruption to the marketplace and/or significant
uncertainty in the settlement and clearance process.
The Company maintains that the recent market activity has been a
coordinated effort to short the common stock. As such, attorneys
for the Company have spoken with representatives from FINRA and are
supplying them with documentation regarding the trading activity in
an effort to see an immediately lift of the trading halt.
The Company is working as quickly and as diligently as possible,
keeping the interests of its shareholders as a core concern.
Safe Harbor
The information in this release includes forward-looking
statements. These forward-looking statements generally are
identified by the words "believe," "project," "expect,"
"anticipate," "estimate," "intend," "strategy," "plan," "may,"
"should," "will," "would," "will be," "will continue," "will likely
result," and similar expressions. These forward-looking statements
involve known and unknown risks as well as uncertainties, including
those discussed in the following cautionary statements and
elsewhere in this release. You should carefully review the
information disclosed within the section entitled "Risk Factors"
contained in the Company's Report on Form 10Q filed on November 13
2012, as well as the information contained in this release, and
amended risk factors to investment that may be found at
http://www.ecotradecorporation.com/contact/safe_harbor.html when
assessing the Company and its business. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise. The United States Securities and Exchange Commission
permits oil and gas companies, in their filings with the SEC, to
disclose only proved reserves that a company has demonstrated by
actual production or conclusive formation tests to be economically
and legally producible under existing economic and operating
conditions. We use certain terms, such as prospective resource or
Original Oil in Place (OOIP) or Petroleum Initially In Place
(PIIP), or Estimated Reserve Potential (ERP), Estimated Ultimate
Recovery (EUR) that the SEC's guidelines strictly prohibit us from
including in filings with the SEC. Additional information may be
found at the following web site:
http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm