As stated by SmartCard Marketing Systems Inc. CEO Massimo Barone, “In lieu of the present trading price of SMKG.pk and to respond to many shareholders requests we have consulted with 2 financial institutions to better understand the reasoning on the selling pressure and the price decrease. It has come to our attention after comprehensively analyzing the DTC reports on the companies shares structure that stock traders have shorted the companies stock Naked for an estimated 10,000,000 shares."
At these present levels, the board has considered a share buy back plan of upto 10 million free trading shares for cancellation from the open market. We believe that it will improve the share value of the stock and benefit both shareholders and investors and oblige Naked short sellers to buyback their positions to be compliant. The decision to do so will be made in the next 2 weeks as we now better understand the current situation.
We ask for Safe Harbor.
