Henderson, NV, March 28, 2023 (GLOBE NEWSWIRE) -- George Sharp, CEO of Forwardly, Inc. (OTCMKT: FORW), provided the following updates to the company’s shareholders.
A complaint was filed by the Company in Seminole County, Florida against Emerging Elements, Inc., alleging that the defendant received stock in the Company for no value received. Emerging Elements filed a counterclaim seeking damages alleging that the Company-ordered delay in delivery of that stock by the transfer agent in order to provide time to investigate the circumstances under which previous management issued that stock, caused Emerging Elements to net less proceeds than it otherwise might have.
On March 23, 2023, the court dismissed the claim and counterclaim after the parties came to an agreement to resolve their differences. No further comments will be offered.
The Company notes the recent increase in price and trading volume of its common stock. While the company is currently engaged in early discussions with an acquisition target, an intense inquiry of the corporate insiders of the company and the possible acquisition target resulted in assurances from all concerned that no advance purchases of the company’s stock have been made by any related parties. Shareholders and potential shareholders should be aware that discussions are in a preliminary stage and no further details or updates will be proffered unless the parties have entered a Letter of Intent. Whether an agreement will be reached; how long it may take to reach such an agreement; or, the terms of any possible agreement, are purely speculative. Any inquiries by shareholders or the general public will be ignored.
About Forwardly, Inc.
Forwardly is an opportunity investor seeking to partner in fresh ideas. The company is headed by George Sharp, a longtime whistleblower, advocate against microcap fraud, and defender of shareholder rights. In addition to his continued participation in these activities, Mr. Sharp consults to public companies, attorneys and those associated with the financial markets. He is also a former consultant to OTC Markets Group, Inc. Further information about Forwardly, Inc. can be obtained through its website at www.ForwardlyPlaced.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
CONTACT:
Forwardly, Inc.
3535 Executive Terminal Drive
Suite 110
Henderson, NV 89052
702-840-4433
