HOUSTON, May 26, 2004 (PRIMEZONE) -- GK Intelligent Systems, Inc. (OTCBB:GKIG), a publicly held holding company with entertainment and technology subsidiaries, announced today that it has not had a response from the Berlin-Bremen Stock Exchange and the corresponding German brokerage firm, Berliner Freiverkehr, regarding the unauthorized listing of its common stock. The Company's counsel has sent demand letters insisting upon this delisting.
GKIG is one of over 200 U.S. publicly traded companies whose stock had been listed on this exchange without the Company's prior knowledge, consent or authorization. GKIG is now considering its options to pursue appropriate remedies against the brokerage firm(s) responsible for this unauthorized listing.
Gary Kimmons, President and CEO of GK Intelligent Systems, stated, "As is the case with a few hundred other companies, we are appalled to learn that our Corporation's stock could be listed for trading on an international stock exchange without our consent or knowledge. From our perspective, there is no justifiable explanation for this, yet we believe, as many others do, that this is the work of individuals using `naked short selling' tactics due to the benefit of the `arbitrage' loophole that none of the present regulations are designed to close."
GK Intelligent Systems has demanded delisting from the Berlin-Bremen Stock Exchange. Mr. Kimmons added that investors looking to purchase shares of GK Intelligent Systems should only purchase their shares from the Nasdaq Over-The-Counter: Bulletin Board (OTCBB) under the symbol GKIG, as shares traded on the Berlin-Bremen Stock Exchange or any other foreign exchange are not currently recognized by GK Intelligent Systems.
About GK Intelligent Systems
GKIG is a developer, and provider of proprietary "intelligent" software technology products and supporting technologies designed to personalize nationally branded products and services, with the objective of improving profitability and fostering higher levels of customer satisfaction and brand loyalty. The Company operates as a holding company with various emerging entertainment and technology subsidiaries with an emphasis in the music industry.
For more information on GK Intelligent Systems please visit the corporate website, www.gkis.com, and its exciting music entertainment subsidiary's website, www.RAWW.com.
Safe Harbor
Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission.