AmbiCom's CEO Responds to
SEC order of Suspension of Trading
Santa Cruz, CA. --
January 17, 2018 -- InvestorsHub NewsWire
-- Trading in shares of
AmbiCom
Holdings, Inc.
(USOTCPS:
ABHI), have been temporarily suspended
due to an order of suspension of trading issued by the Securities
and Exchange Commission as of today's date.
The temporary trading
suspension is valid through 11:59 pm EST on January 30,
2018.
The temporary suspension
order states that on August 10, 2017 a delinquency letter was sent
to AmbiCom Holdings Inc's corporate
address in Norridge, Illinois. When this delinquency letter was
returned to the SEC, actions were undertaken, leading to the
temporary suspension.
Kevin Cornell,
AmbiCom's CEO, stated: "It would seem that when the
SEC delinquency letter was sent to Alain Lewand, our previous CEO,
in August of 2017
at his
Norridge, Illinois offices, he was unavailable to receive it or
refused acceptance of the letter. At the time,
Alain was the CEO
and a member of AmbiCom
Board of
Directors.
The Norridge, Illinois office was at that time
listed in SEC
documents as the valid address for AmbiCom. No other board members
of AmbiCom
at the time or
since, and no current management of AmbiCom,
were made aware
by Alain that this letter existed. We will escalate our
current
actions to file
all necessary documents to lift this suspension and
become current
with our
obligations."
About
AmbiCom Holdings, Inc.
AmbiCom Holdings Inc.,
headquartered
in Santa
Cruz, California,
searches out,
acquires and/or invests in unique technologies that have the
potential for wide adoption in large
markets.
AmbiCom looks for mature management teams
that have a history of successfully converting new concepts into
products.
Of particular interest
are high margin products that have the ability to enhance user's
experience while generating a positive return on
investment.
We are acutely aware of
our responsibility to the investors that have placed their trust in
our abilities to effectively manage the assets of
AmbiCom
on their
behalf.
For more information,
visit www.AmbiCom.com .
Forward-Looking
Statements
This press release
contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934. Although forward-looking
statements in this release reflect the good faith judgment of
management, forward-looking statements are inherently subject to
known and unknown risks and uncertainties that may cause
actual results to be materially different from those discussed in
these forward-looking statements, including but not limited to our
ability to maintain our website and associated computer systems,
our ability to generate sufficient market acceptance for our
products and services, our ability to generate sufficient operating
cash flow, and general economic conditions. Readers are urged to
carefully review and consider the various disclosures made by us in
our reports filed with the Securities and Exchange Commission from
time to time which attempt to advise interested parties of the
risks and factors that may affect our business, financial
condition, results of operation and cash flows. If one of more of
these risks or uncertainties materialize, or if the underlying
assumptions prove incorrect, our actual results may vary materially
from those expected or projected. Readers are urged not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this release. We assume no obligation to
update any forward-looking statements in order to reflect any event
or circumstance that may arise after the date of this
release.
Contacts
Paul McGee
AmbiCom Holdings, Inc.
pmcgee@ambicom.com
(408)
757-0715