LAS VEGAS, NV--(Marketwired - Jun 27, 2013) - Clean Enviro Tech Corp. (
The Company's Common Stock was listed for trading in Germany without the Company's knowledge. As of June 25, 2013 the Company shares can only be traded between 3:30 pm and 8 pm CET by the Berlin Stock Exchange and there will be only one trade per day by the Stuttgart Stock Exchange.
Statement regarding the alleged sending of spam e-mails: Clean Enviro Tech Corp. has neither commissioned nor has it sent potential spam e-mails. The Company denies any responsibility for these releases.
Due to the increased demand and the sharp rise in price of the stock in recent weeks, some market participants have speculated with proven short sales on falling prices with the intention to cover these short positions at lower share prices. We would not rule out that market participants are trying to manipulate the stock price by illegal actions in order to achieve lower share prices. The trading restriction has to be viewed in regards to these potential activities.
The Company is only able to state facts that it is aware of and wishes to point out the following:
According to the Depository Trust Company (DTC), which is the U.S. clearinghouse, the total number of shares reported on deposit at DTC in the DTC report of June 21, 2013 was 3,596,917 shares. This means that the total number of shares available for trading between US and German markets is 3,596,917 shares. From June 17, 2013 to June 20, 2013 (4 trading days) a total of 5,535,201 shares traded on the stock exchanges in Berlin and Stuttgart. The Company is curious and hopes that the German authorities would look into how the German market makers were able to trade 5.5 million shares in 4 days with only 3.6 million shares available for public trading. It would also shed light on the restrictions on trading by the Berlin Stock Exchange and the Stuttgart Stock Exchange, negative spam emails and a short selling campaign.
Clean Enviro Tech Corp. is currently investigating the alleged sender of the spam e-mails and is considering legal action.
This press release may include 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 statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.