LAS VEGAS, Nov. 28, 2011 /PRNewswire/ -- Smokefree Innotec,
Inc. (OTC Pink: SFIO) George Roth , President of Smokefree
Innotec Inc. announced today that the Company has filed its current
Information Disclosure Statement and Interim Financial Report for
period ending August 31, 2011 with
the OTC Markets, to provide transparency and for the benefit of its
shareholders. Mr. Roth stated, "This report is the first
available following the incidents of last June 30, 2011, when a public announcement was
made regarding the illicit sale of 400,000 shares of the Company's
common stock that occurred in 2009, by the then CEO of SFIO. The
extraordinary trading activity in the selloff, and immediate buy
back, of shares that instantly followed led to the DTC Global Lock
and the posting of the caveat emptor displayed by the OTC Markets
for SFIO on their web site. Counsel for Smokefree is submitting to
OTC Markets his opinion letter regarding the status of the Company
since it has settled the civil complaint of the SEC, to bring SFIO
into full compliance with the requirements of the OTC Markets
listing on the Pink Sheets."
Mr. Roth observed, "This full compliance will not result in the
release of the DTC Global Lock, since that resulted from the
trading activity, not the actions of the Company or its officers.
The Company and its counsel are continuing to explore all
avenues to discover and understand the methods required to
encourage the DTC reconsider its actions and to lift the Global
Lock. There is no way to tell if and when that may occur."
About Smokefree Innotec, Inc.
Smokefree Innotec, Inc. (OTC Pink: SFIO) is in the business of
designing, developing, manufacturing and marketing hi-tech,
nicotine and non-nicotine cigarette-like delivery devices which are
completely smoke and vapor-free and tobacco-free. SFIO's products
are designed to protect the non-smoker from second hand smoke and
all its effects while providing the smoker a way to enjoy a
smoke-free cigarette anywhere, including places where vapor
emissions are offensive or smoking tobacco or similar substances is
prohibited. Further, our products will allow the smoker to enjoy
smoking either nicotine or flavored non-nicotine cigarettes while
not having to worry about the offensive dangers and ill effects of
regular cigarette smoking. However SFIO's products are not intended
for any prevention or therapeutic treatment of any disease.
Contact: Smokefree Innotec, Inc.
George Roth - CEO
info@smokefree-innotec.com | www.smokefree-innotec.com
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Safe Harbor Statement
The information made available in this press release contains
certain forward-looking statements which reflect Smokefree Innotec,
Inc.'s current view of future events and financial performance.
Wherever used, the words "estimate", "expect", "plan",
"anticipate", "believe", "may" and similar expressions identify
forward-looking statements. Any such forward-looking statements are
subject to risks and uncertainties and the company's future
results of operations could differ materially from historical
results or current expectations. Some of these risks include,
without limitation, the company's ability to execute on its
contracts, customers' acceptance of its products, the market
acceptance of two-way tracking devices, managing regulatory
compliance and/or other factors that may be described in the
company's annual report on Form 10-K, quarterly reports on Form
10-Q and/or other filings with the Securities and Exchange
Commission. Future economic and industry trends that could
potentially impact revenue and profitability are difficult to
predict. The Company assumes no obligation to publicly update or
revise its forward-looking statements even if experience or future
changes make it clear that any projected results express or implied
therein will not be realized.
Smokefree Innotec, Inc. does not warrant or represent that
the unauthorized use of materials drawn from the content of this
document will not infringe rights of third parties who are not
owned or affiliated by Smokefree Innotec, Inc. Further Smokefree
Innotec, Inc. cannot be held responsible or liable for the
unauthorized use of this document's content by third parties
unknown to the company.
SOURCE Smokefree Innotec, Inc.