SCHAUMBURG, Ill., Jan. 14, 2019 /PRNewswire/ -- The Coffeesmiths Collective, Inc. (f/k/a DOCASA, Inc., OTCQB: COFE) was notified by OTCMarkets on January 10, 2019 regarding certain stock promotion that was performed in relating to the Company. This press release is intended to comment on the inquiry by OTCMarkets.
To date, the Company's last press release and/or information disclosed to the public, with exception to the Form 8-K, the Form 10-Q and the Form 10-K, was on July 18, 2018. The Company is not involved with any stock promotion performed by third parties. The Company, including management, was unaware of the stock promotion until notified by OTCMarkets on or about January 10, 2019.
Beginning on January 7, 2019 through January 11, 2019, there were 500,821 shares traded, or approximately 100,164 shares per day, with the significant trades on January 7, 2019 through January 8, 2019, which were 430,354 shares, or approximately 215,177 shares per day. From July 19, 2018, the date the excessive trading occurred as stated in our July 18, 2018 press release and as stated herein, through January 4, 2019, there were 570,907 shares traded, or approximately 4,880 shares per day. The common stock of the Company began trading at higher levels without any inducement by the Company and/or its officers or directors.
The Company was initially notified by OTCMarkets about the stock promotion performed by an unrelated third party. According to the copy of the stock promotion provided for review by OTCMarkets to the Company, the websites releasing the stock promotion was www.damngoodpennypicks.com, www.beatpennystocks.com and www.pennypicks.net. The promotion was distributed from these websites as an e-mail newsletter to their subscribers on January 6, 2019 and January 7, 2019.
The Company reviewed the release and determined that the unknown author of the release utilized certain information that was disclosed in certain filings by the Company on its Forms 8-K, 10-Q and 10-K and from the Company's website. Other information appears to be the unrelated research performed by the author. The information, which the Company does not have any verification of the added material, believes that the press release correctly states facts previously disclosed to the public, along with other statistics, appear to be factual.
This document extracted pictures and language from the Company's previous filings, website and social media accounts. All quotes in this article were in prior filings and are not new nor were there inclusion in this document done with the permission or knowledge of the Company and/or the person being quoted. Other unverifiable statements regarding the broader market were included by the author. The information, with exception to the unverifiable statements, which appear to be legitimate, are believed to not be misleading.
The Company, its officers and directors, were not involved, directly or indirectly, with the creation, distribution, or payment of the promotional materials.
The materials and related statements made in the promotional activities do not appear to be materially false and/or misleading.
After inquiry of management, none of the directors and control persons, its officers, directors, any controlling shareholders (defined as shareholders owning 10% or more of the Company's securities), or any third-party service providers have not, directly or indirectly, been involved in any way (including payment of a third-party) with the creation, distribution, or payment of promotional materials related to the Company and its security.
After inquiry, none of the management, the directors, control persons, and any third-party service providers, the Company, its officers, directors, any controlling shareholders, or any third-party service providers have sold or purchased the Company's securities within the past 90 days.
There are no third-party providers engaged by the Company to provide investor relations services, public relations services, marketing, or other related services including the promotion of the Company or its securities in the last twelve months.
The Company has not at any point issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
About The Coffeesmiths Collective, Inc.
The Coffeesmiths Collective, Inc. (f/k/a DOCASA, Inc.) The Coffeesmiths Collective, Inc. ("Coffeesmiths") is a family of independent specialty coffee shops and coffee companies based in the United States and the United Kingdom. The Company rolls out and acquires specialty coffee shops and companies preserving, wherever appropriate, the strong individual identities of those regarded as 'local institutions.' Coffeesmiths brings light touch economies of scale enhancing the customer experience and increasing shareholder value without altering the fabric of the uniqueness of many of its established assets. The Company has a flagship brand, the award-winning Department of Coffee & Social Affairs, with coffee shops in the USA and in the UK in which it is widely recognized as a market leader in the rapidly growing specialty coffee sector. Department of Coffee & Social Affairs is the 100% owner of the Dept. Cold Brew brand, an innovative coffee company engaged in the global cold brew market.
For additional information, please contact:
The Coffeesmiths Collective, Inc.
Forward looking statement:
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE The Coffeesmiths Collective, Inc.