VANCOUVER, BC--(Marketwired - June 11, 2014) - Pingify International Inc. (OTCQB: PGFY) is a Vancouver-based startup in the classified space. Pingify's patented technology enables users to receive information about classified listings directly on their mobile device via "Pings."
To Pingify Investors,
I would like to apologize for the delayed response regarding recent events with the company. It has taken some time to sort out what has occurred and to determine a potential course of action. I sincerely appreciate all the positive notes that have been sent my way.
Firstly, I would like to address the main issue at hand. As mentioned in a previous press release, neither the company nor any of the directors endorsed nor paid any individual or individuals to promote the company. Please see the previous press release for details:
It appears that our company was targeted for a stock promotion, which was beyond our knowledge and control. This was unfortunately too much for our CFO. It saddens me that he felt compelled to write a press release targeting Pingify International, rather than the promotional company or individuals behind this scheme. In his defense, I can only assume he felt his reputation was at stake and therefore he had to act. I only wish he had consulted with me before sending out the release, as the content misrepresented the facts and contributed to the current outcome.
Unfortunately, the unintended consequence of that release has harmed the investors and the company. I'm certain this was not the intention but it was, nonetheless, the result.
Secondly, as many of you can imagine, this situation has place enormous pressure on the company and its ability to raise capital, sustain filings and pay bills. However, this does not detract from the viability of the technology, nor does it detract from our confidence and commitment in delivering a flourishing business. In that spirit, I continue to seek investment from private sources and/or the sale of the technology to an interested buyer at the appropriate price. In the end, I hope that current investors maintain confidence in Pingify as a viable technology and support us through this difficult time.
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipates", "believes", "estimates", "expects", "intends" and similar expressions, as they relate to Pingify or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of various factors. Pingify does not undertake any obligation to update such forward-looking statements. Investors are cautioned to consider all other risks and uncertainties affecting the company, including those in its filings made with the Securities and Exchange Commission.