MIAMI, FL / ACCESSWIRE / June 11, 2020 / Tiger Reef, Inc. (OTC PINK:TGRR) and its Management has reason to believe there is an ongoing effort by an individual or group of people unknown to the Company and its Management to illegally manipulate the trading and share price of Tiger Reef's shares. Further, Management has been made aware of a criminally fraudulent Change of Resident Agent filing made with the Colorado Secretary of State earlier today.
Illegal Stock Manipulation
Over the past week or so, Management has observed a massive increase in trading activity in the Company's stock. While, initially, Management believed this to be just an anomaly or something possibly relating to a random rumor, it now appears to be a highly organized and criminal stock manipulation being carried out by one or more persons on various social media platforms. Just some of these outlandish claims and touts known by Management include:
- A fake captured screen image that portrayed a conversation on WhatsApp between Tiger Reef's President and CEO, J. Scott Sitra, and a potential investor named Hannah detailing fake and untrue events and negotiations. This WhatsApp conversation never took place. Further, Mr. Sitra does not - and never has - engaged in WhatsApp conversations with shareholders or participate in other social media platforms. The image was either created in Photoshop or someone established a fake WhatsApp account using Mr. Sitra's name for the sole purpose of producing this fraudulent image;
- Tweets that Elon Musk was buying and taking over the Company; and
- Claims and touts suggesting inside information from Mr. Sitra that the Company is being sold at exaggerated valuations.
None of these claims, touts, or fraudulent images are true or accurate. While true the Company is and has been for sale, there have been limited discussions with potential buyers to date - nothing remotely close to approximating the claims being made by these rouge stock manipulators.
Fraudulent Change of Resident Agent Filing
Earlier today, someone filed a fraudulent Change of Resident Agent with the Colorado Secretary of State. This filing is signed by a Mr. David Lazar, who is not - currently or previously - an officer, director, or have any affiliation with the Company.
Mr. Lazar and Mr. Sitra have actually known each other for many years. Mr. Lazar used to work at the Company's former transfer agent, VStock Transfer.
Mr. Sitra conferred with Mr. Lazar earlier today to get a better understanding of the nature of this bizarre filing. Mr. Lazar was just as unaware and surprised by it as Management.
The Company is in contact with the Colorado Secretary of State to figure out (i) who authorized and made this criminal filing and (ii) to take the necessary actions to rescind it and return their records to reflect the rightful and true transfer agent, InCorp Services. Due to the COVID-19 pandemic, most of the Secretary of State's employees are working remotely from home, so this may take several days to figure out.
Mr. Sitra stated, "Never in all my years in business and being involved off-and-on in the microcap space have I seen such blatant disregard for the law. Not only are these actions by this person or persons criminal in nature carrying possible prison time, but it is also disgusting on every moral and ethical level. These criminals are attempting to utilize uninvolved people, their names, and professional reputations to facilitate whatever may be their ultimate endgame."
Mr. Sitra continued, "Let me make this very clear. I am working to uncover the names and identities of these criminals. I am working with the Colorado Secretary of State and, if unmasked, I will share these names and identities - along with any other information and proof that we collect along the way - with the SEC, FINRA, FBI, and any other relevant law enforcement agency that might have jurisdiction."
"I strongly urge anyone considering investing in or trading Tiger Reef's stock to take into consideration the level of ongoing stock manipulation and consider other investments until this matter is resolved and the perpetrators have been uncovered," concluded Mr. Sitra.
SOURCE: Tiger Reef, Inc.
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