|By Marketwired .||
|June 6, 2014 07:05 PM EDT||
LOS ANGELES, CA -- (Marketwired) -- 06/06/14 -- The SEC determined on June 6, 2014 to impose a temporary suspension in trading of the stock of SK3 Group, Inc. (OTC Pink: SKTO) (PINKSHEETS: SKTO) ("the Company") that may extend through June 19, 2014. The purpose of this statement is to inform shareholders about the information currently available to the Company on this subject and to directly address, to the extent possible, several of the questions we have received from shareholders and investors.
The Company did not have any advance warning, hint, or knowledge of the impending SEC suspension order. The Company learned of the SEC's actions at the same time as the market, on the morning of June 6, 2014.
We do not know what caused the SEC to issue its order, and the SEC is not obliged to provide information to the Company or its shareholders with respect to the reason or bases for its order. The Company is commencing an effort to reach out to the SEC to understand the SEC's concerns and then endeavor to address them. The Company will not speculate about the reasons, and the Company recommends that investors, even though they are disappointed by this temporary result, not speculate either but wait to see what happens as a result of this process. As soon as any regulatory concerns are identified for the Company, the Company will address them fully.
The Company has no knowledge of irregularities that may warrant a suspension of trading in its securities but the fact remains that the SEC ordered a trading halt, as it is permitted to do by law.
The Company understands that the SEC has expressed concerns with the market sector, medical cannabis, in which the Company operates and has shut down several companies in that space before its recent order affecting the Company. Frankly, having seen the activities and announcements of some companies in this space, the Company can understand those concerns. We are glad that we are not one of those companies, instead operating a viable, established, and visible business in California, as we have been doing for over a year.
The Company continues and will continue to operate its business in all of its forms, notwithstanding the SEC order. The SEC order does not affect the Company's core and day-to-day business operations and we will continue to deliver high quality products and services that enhance the lives of medical cannabis patients in California.
If the history of other stocks in the marketplace is any guide, after the SEC order expires or when trading resumes there is likely to be a negative impact on price per share in the Company's stock. The Company will do everything it reasonably can do to minimize the impact of the SEC's decision on its shareholders and business relationships. We urge our shareholders, customers, and partners to engage in calm consideration of information as it becomes available but we do understand that this is a very difficult time for all involved. We appreciate your frustration, as we are similarly frustrated. We have operated in this space for more than a year and are perplexed after having built a lawful new business, in a new and growing space, that is viable, visible, active, and objectively confirmable to find that the SEC has concerns, but they are engaging in their role as provided by law and we respect that. While they did not provide more than formalistic language justifying the suspension in their order, that too is their prerogative and we look forward to working with the SEC to glean their concerns and address them proactively.
We do not like controversy, but we also do not shy away from it. We are confident that we are building an industry leading business in the medical cannabis space and we will continue to do so. Undoubtedly those on the investor boards who accomplish some form of reward from spreading fear, uncertainty, and doubt will use this as an opportunity to do so with even louder volume; but do not be misled, they too lack any information as to why the SEC did what it did as only the SEC knows that. We certainly are not going to opine on that subject and we would caution you to view with a great deal of skepticism anyone on any investor board who does so.
We are committed to launching the products and services we have already announced we will launch -- they are under development and some are nearly finished. We are also continuing to move ahead with the audit of our financial statements and the merger we had already announced and hope to complete that shortly but in due course given the current situation.
We remain fully dedicated to finding out what gave rise to the SEC concerns and to keeping shareholders fully informed when reliable information is obtained. In the meanwhile, we ask, respectfully, that our shareholders and investors maintain a demeanor of calm and patience notwithstanding frustrations that we all feel in this challenging time; acting on frustration will not accelerate our path through this process and may hinder it. We will not give up and we are committed to seeing this through.
The statements in this document have not been evaluated or approved by the FDA. The products and statements referenced in this document are not intended to diagnose, treat, cure, or prevent any disease.
SK3 is a healthcare logistics and fulfillment consultancy focused on the delivery of alternative care and medicine. With seasoned management, breakthrough technology and best practices, SK3 brings standardization and transparency to this rapidly growing segment of the alternative care field.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. 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.
SK3 Group, Inc.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Jul. 24, 2016 10:45 AM EDT Reads: 2,121
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Jul. 24, 2016 10:45 AM EDT Reads: 863
Jul. 24, 2016 10:00 AM EDT Reads: 548
Jul. 24, 2016 09:30 AM EDT Reads: 1,055
Jul. 24, 2016 09:00 AM EDT Reads: 1,501
Jul. 24, 2016 09:00 AM EDT Reads: 807
Jul. 24, 2016 08:45 AM EDT Reads: 882
Jul. 24, 2016 08:30 AM EDT Reads: 2,053
Jul. 24, 2016 08:30 AM EDT Reads: 1,459
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Jul. 24, 2016 08:15 AM EDT Reads: 1,155
Jul. 24, 2016 08:15 AM EDT Reads: 1,812
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Jul. 24, 2016 08:15 AM EDT Reads: 1,051
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Jul. 24, 2016 08:00 AM EDT Reads: 737
SaaS companies can greatly expand revenue potential by pushing beyond their own borders. The challenge is how to do this without degrading service quality. In his session at 18th Cloud Expo, Adam Rogers, Managing Director at Anexia, discussed how IaaS providers with a global presence and both virtual and dedicated infrastructure can help companies expand their service footprint with low “go-to-market” costs.
Jul. 24, 2016 08:00 AM EDT Reads: 2,278
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
Jul. 24, 2016 08:00 AM EDT Reads: 889