Eco-Trade Provides Shareholders with an Update Regarding Trading Halt - Company Working with FINRA t
Apr 17th 2013 11:15PM
Updated Apr 18th 2013 7:35AM
Eco-Trade Provides Shareholders with an Update Regarding Trading Halt - Company Working with FINRA to Resolve
GREAT FALLS, Mont.--(BUSINESS WIRE)-- Eco-Trade Corp. (OTCQB: BOPT), an independent oil and gas exploration company (the "Company"), today commented on its recent trading halt by informing shareholders of its communications with FINRA, and that Company has been taking a proactive stance and has been in direct contact with FINRA regarding short activities and solutions to protect shareholder value.
The halt was conducted under FINRA Rule U3 - Trading Halt - Extraordinary Events - Trading is halted due to FINRA's determination that an extraordinary event has occurred or is ongoing that has had a material effect on the market for the OTC Equity Security or has caused or has the potential to cause major disruption to the marketplace and/or significant uncertainty in the settlement and clearance process.
The Company maintains that the recent market activity has been a coordinated effort to short the common stock. As such, attorneys for the Company have spoken with representatives from FINRA and are supplying them with documentation regarding the trading activity in an effort to see an immediately lift of the trading halt.
The Company is working as quickly and as diligently as possible, keeping the interests of its shareholders as a core concern.
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. You should carefully review the information disclosed within the section entitled "Risk Factors" contained in the Company's Report on Form 10Q filed on November 13 2012, as well as the information contained in this release, and amended risk factors to investment that may be found at http://www.ecotradecorporation.com/contact/safe_harbor.html when assessing the Company and its business. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms, such as prospective resource or Original Oil in Place (OOIP) or Petroleum Initially In Place (PIIP), or Estimated Reserve Potential (ERP), Estimated Ultimate Recovery (EUR) that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Additional information may be found at the following web site: http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm
David Price, 855-645-9378
KEYWORDS: United States North America Montana
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