SKY440 Prepares to File Annual Report to Regain Current Status on OTC Markets
Irvine, CA (PRWEB) May 14, 2014 -- Sky440, Inc. (OTC PINK: SKYF), a development stage company, announced today that it has begun preparations to file its 2013 Annual Report, including financial statements for the past two years and through the first quarter of 2014, which should result in the company regaining its current status on the OTC Pink Marketplace. The company is working on the development of its Sky Technologies and Sky440 Products divisions, and plans to look at potential acquisitions in the electronics, equipment and commercial real estate sectors to further that development, including exploring the potential acquisition of similar assets in the Cannabidiol (CBD) and Medical Marijuana (MMJ) industries.
As of May 14, 2014, the company had 1,567,922,087 common shares issued and outstanding. The public float, those shares being held in street name, known as “CEDE”, is 393,708,963 shares. The total restricted shares are 818,427,996. The total non-restricted shares are 749,494,091, including those in CEDE. Other than management, who own approximately 52% of the common stock issued and outstanding, and whose stock is considered affiliate/control stock and is not available for resale, there are no other affiliates and/or control persons connected to the company. The company has not issued any shares since early 2009.
All official information and news announcements are released solely by Sky440. At this date, the company has no contractual or any other type of agreement with any third parties to release or in any way disseminate information and news about Sky440. Any and all questions concerning the company, its operations, stock news and or any other matters are to be addressed directly to the company.
As a development stage company that is publicly traded on the OTC Pink Marketplace, the common stock of Sky440 is subject to various wide-ranging fluctuations in the share price and volume of the stock. These types of stocks are very risky and are subject to market conditions that are beyond the control of the company. Further, as the company has not issued an IPO and or secondary offering to the public, stockholders need to be aware that the funds used to purchase the common stock of the company do not go to the company, rather those funds go to the brokerage firms in the form of commissions and other fees and to the selling stockholders. As a result, stockholders are encouraged to make informed decisions when purchasing any stock and thereafter to monitor those purchases carefully, as price and volume can accelerate and decelerate very quickly.
About Sky440:
Sky440, Inc. (OTC: SKYF), is a publicly traded development stage company with two initial divisions, Sky Technologies, which plans to focus on the distribution and marketing of electronic related products and services, including the development of new technologies; and Sky440 Products, which plans to focus on the acquisition of small technology and technology related companies in the electronics, equipment and commercial real estate sectors, including the acquisition of similar assets in the Cannabidiol (CBD) and Medical Marijuana (MMJ) industries.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at http://www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
Robert Atwell, Sky440, Inc., http://www.sky440.com, +1 9498313784, [email protected]
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