Ideanomics Statement Regarding Short-Selling Activities
June 26 2020 - 8:45AM
InvestorsHub NewsWire
Ideanomics Statement Regarding Short-Selling Activities
- The websites of J Capital Research and Hindenburg Research
indicate that their business is that of conducting short-selling
activities
- These companies undertake activities of this nature with the
goal of manufacturing a drop in share price for their financial
benefit
- Accordingly, their communications do not accurately reflect
the operations of Ideanomics
NEW YORK, NY -- June 26, 2020 -- InvestorsHub NewsWire
-- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the
"Company") would like to announce that it intends to respond
with all means possible to the apparently coordinated attack on the
company's credibility in order to seek
financial gain from a drop in the company's share
price.
The Company refutes entirely the claims that it has less than
three months operating cash. On the contrary, the Company has
sufficient cash to maintain its current operations for at least 12
months.
We believe that the hydrogen fuel cell vehicle (H2FCV) and
battery electric vehicle (BEV) industries and New Energy Vehicle
ecosystem have a tremendous future, and this is evidenced by all of
our recent orders and fulfilments. Our sales center
in Qingdao, along with our partners (including the City
of Qingdao, a 10% owner of our subsidiary in Qingdao), has a
free rental agreement backed by local government for up to 15 years
and for up to 100k square meters.
We urge our shareholders to read our filings with SEC before
making any investment decisions. More details about our press
releases, earnings and SEC filings can be found at: https://investors.ideanomics.com/.
About Ideanomics
Ideanomics is a global company focused on
facilitating the adoption of commercial electric vehicles and
developing next generation financial services and Fintech products.
Its electric vehicle division, Mobile Energy Global (MEG) provides
group purchasing discounts on commercial electric vehicles, EV
batteries and electricity as well as financing and charging
solutions. Ideanomics Capital includes DBOT ATS and
Intelligenta which provide innovative financial services
solutions powered by AI and blockchain. MEG and Ideanomics Capital
provide our global customers and partners with better efficiencies
and technologies and greater access to global markets.
The company is headquartered in New York, NY, and has
offices in Beijing and Qingdao, China.
Safe Harbor Statement
This press release contains certain statements that may include
"forward looking statements". All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties, and include statements regarding our intention
to transition our business model to become a next-generation
financial technology company, our business strategy and planned
product offerings, our intention to phase out our oil trading and
consumer electronics businesses, and potential future financial
results. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company's actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of risks and
uncertainties, such as risks related to: our ability to continue as
a going concern; our ability to raise additional financing to meet
our business requirements; the transformation of our business
model; fluctuations in our operating results; strain to our
personnel management, financial systems and other resources as we
grow our business; our ability to attract and retain key employees
and senior management; competitive pressure; our international
operations; and other risks and uncertainties disclosed under the
sections entitled "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our
most recent Form 10-K and Form 10-Q filed with the Securities and
Exchange Commission, and similar disclosures in subsequent reports
filed with the SEC, which are available on the SEC website
at www.sec.gov. All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these risk factors. Other
than as required under the securities laws, the Company does not
assume a duty to update these forward-looking statements.
Investor Relations and Media Contact
Tony Sklar, VP of Communications
55 Broadway, 19th Floor New York, New
York 10006
Email: ir@ideanomics.com
SOURCE Ideanomics
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