SANFORD, Mich., March 09, 2018 (GLOBE NEWSWIRE) --
HPIL HOLDING (the “Company”) (OTC Pink:HPIL) announced yesterday that a fraudulent news release was issued through Accesswire (http://www.accesswire.com)
The false press release, “HPIL HOLDING Announces Corporate Buyout; Initiates Agreement,” stated that HPIL had received an offer from Telesun Technology to buy out HPIL at $0.01 a share, and purported to quote HPIL's CEO, Nitin Amersey. In actual fact, HPIL has no knowledge of any such offer and the CEO has not made this statement. The Company had asked Accesswire to remove this item as soon as it found out about this fraudulent release and it was removed yesterday March 8, afternoon, after being on their site since early morning. The Company issued a news release as expeditiously as it could in the morning through NASDAQ’s GlobeNewswire.
Mr. Nitin Amersey, Chairman and CEO of HPIL, announced that “We believe that this was an intentionally designed fraudulent transaction and that the perpetrators had also earlier tried to issue the same release through another newswire service company that detected the fraud. We have contacted the FBI and provided them details of the incident. It is our belief that there were 'issues' with the news release procedures that were followed by the newswire company. HPIL HOLDING uses the services of NASDAQ’s GlobeNewswire group for its news releases and does so partially because of the high tech security features and the wide distribution that it offers.”
Mr. Amersey also said, “We believe that we were not the only company targeted in this fraudulent scheme. It is our understanding that two and maybe three other companies were also targeted. We will not let this incident deter us from moving ahead with our business ventures and plans. It is our belief that the Companies that the perpetrators had targeted were Companies that they believed had the potential for large upticks in their stock volumes and price. We trust the appropriate authorities will investigate and catch those involved.”
The Company is vigorously involved in getting its long delayed Q for the Third Quarter 2017 filed and the Company current. The Company is also actively negotiating to acquire businesses and technologies that it sees as being synergistic to its business plan.
Safe Harbor / Forward-Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” “plan,” “potential,” “seek,” and “intend,” among others. These forward-looking statements are based on the Company’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our possible need for financing; uncertainties of technological changes; and dependence upon third parties. The Company does not undertake an obligation to update or revise any forward-looking statement. All of the Company’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.
The Company is vigorously involved in getting its long delayed Q filed and the Company current. The Company is also actively negotiating to acquire businesses and technologies that it sees as being synergistic to its business plan.
HPIL HOLDING (http://HPILHOLDING.COM) is a holding company quoted on OTC Markets. For more information, please contact:
Mr. Peter Nicosia