MIAMI, FL / ACCESSWIRE / April 6, 2022 / Boatim, Inc. (OTCQB:BTIM) ("Boatim" or the "Company), an innovative software and service company dedicated to professionalizing and standardizing the leisure boating industry, received a "Stock Promotion" flag from OTC Markets Group on April 1, 2022, for a newsletter campaign disseminated on April 1-5, 2022.
The newsletters were not initiated by Boatim and were unknown to Boatim. After requesting information from OTC Markets Group on April 1, 2022, Boatim was able to review the newsletters and learned that several websites had disseminated information through various email and direct marketing campaigns about the Company. These sites include secretstcokpromoter.com, hototc.com, profitabletraderauthority.com, and pennypicksfinders.com. There may also be others but the Company has not yet discovered them.
The Company has conducted an inquiry into management, the directors, and control persons, its officers, directors, and controlling shareholders, as well as all third-party service providers affiliated with Boatim, and concluded that none of these parties were involved in the creation, distribution, or payment of promotional materials related to the Company and its security. While the Company did not have any involvement with the content of the newsletters or its use, it was sourced from publicly available information, and therefore, in the Company's opinion, was factual.
After conducting its inquiry, the Company has further concluded that no members of management, the directors, or control persons, have sold or purchased the Company's securities within the past 90 days. Two of Boatim's third party service providers have sold, in aggregate, approximately 10,000 shares of the Company's securities, between February 15 and March 15, 2022. Neither of those providers were in possession of any non-public information or had access to any such information, but sold shares pursuant to their 2021 contracts which paid for services with securities, at that time, and were disclosed by the Company in its filings with the SEC.
Boatim has contracts with FMW Media Works Corp, TD Media LLC, SRAX, Inc., and North Equities for public relations, digital design, SEO, and consumer marketing consulting purposes in the past six months. To Boatim's knowledge, after its inquiry, none of these companies perform stock promotions for Boatim or are affiliated with the stock promoters who sent these emails.
In addition to performing its inquiry, Boatim as looked into all convertible instruments to see if any trading was done in the last 90 days by convertible note holders or former holders, and has not found any. Any and all convertible instruments issued by the Company have been disclosed in the Company's SEC filings.
The newsletters have caused a spike in the Company's share volume being traded but the price has remained within a consistent range over the past several weeks, which much below Boatim's 52 week average price.
Boatim, Inc. is a fully reporting public company and timely filer with the Securities Exchange Commission (SEC). Detailed information is disclosed on an ongoing basis in quarterly and annual reports, which can be found on www.sec.gov.
As the Company continues to advance and take an active role in the future of recreational boating, it will share its progress through all available and appropriate channels. Boatim has requested that OTC Markets Group remove the flag.
To view the most recent Company information, please visit https://investor.boatim.com.
About Boatim Inc.
Boatim Inc. (OTCQB:BTIM) is an innovative software company that hosts a recreational and leisure boating platform for consumers and provides professional software as a service ("SaaS") business tools to the industry. Boatim is building the digital recreational boating products of tomorrow and connecting the global boating community. Boatim operates a worldwide online marketplace directly connecting boaters with the products and services they need on its website, BOATIM.com.
Boatim Inc. was founded in 2018 and currently operates with offices in Miami (USA) and Barcelona (Spain). The publicly traded technology start-up provides industry-specific software, aimed at facilitating the process of buying and selling boats and providing digital maritime services online.
On BOATIM.com the boating industry can sell and promote products and services directly to boaters, while boaters can easily find and acquire the products, boats, and services they are looking for. Boatim allows boaters to connect with one another, share information, and provide reliable reviews and tips on the goods and services they use. The platform, which can be accessed through both mobile devices and desktops, generates revenues through listing placements and subscription plans, as well as on-platform ads. Boatim strives to compliment the recreational boating industry with its suite of digital tools and services by introducing innovative solutions to decrease industry costs and waste. Boatim is for boaters by boaters and always puts the consumer first.
Boatim has been trading at the OTCQB Venture Market under the trading symbol BTIM since August 2019.
Boatim Inc
7950 NW 53rd Street, Suite 337
Miami, Fl 33166
United States
To learn more about Boatim, visit https://investor.boatim.com
Forward Looking Statements
This press release contains forward-looking statements regarding our future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: our ability to retain or increase users and engagement levels; our reliance on advertising revenue; our dependency on mobile operating systems, networks, and standards that we do not control; risks associated with new product development and their introduction as well as other new business initiatives; our emphasis on user growth and engagement and the user experience over short-term financial results; competition; litigation; privacy and regulatory concerns; risks associated with acquisitions; security breaches; and our ability to manage growth and geographically-dispersed operations. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K filed with the SEC on January 3, 2022, which is available via the SEC website at www.sec.gov. Additional information has also been set forth in our Annual Report on Form 10-K for the year ended Aug 31, 2021. In addition, please note that the date of this press release is April 6, 2022, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
Boatim® is registered trademark of Boatim, Inc. All product names, trademarks and registered trademarks are property of their respective owners.
SOURCE: Boatim, Inc.
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https://www.accesswire.com/696419/Boatim-Comments-on-Recent-Promotional-and-Trading-Activities-at-Request-of-OTC-Markets
