NEW YORK, Feb. 27, 2019 (GLOBE NEWSWIRE) -- SoOum Corp (OTCPINK: SOUM), a Physical commodities trading and arbitrage company, announces that after further review and recent developments, the Company’s Board of Directors decided to cancel its intended reverse stock split.
The Board and the Company’s management team continue to meet with various new investors and lending sources can provide less expensive capital. Because of such new financial opportunities, the Board does not believe a reverse stock split would be in the best interest to the Company and its shareholders at this time.
Furthermore, SoOum’s new head of global sales and distribution division will aggressively expand its operations into new lines of business intended to diversify its future revenue stream.
Stay tuned, as informational updates continue as progress transpires.
About SoOum Corp
SoOum Corp, a publicly held (OTCPINK: SOUM) Physical Commodities International Trading firm, specializes in arbitrage based transactions of Physical Commodities and offers a web-based “International Trading Platform” - www.sooum.com.
For more information regarding this press release, please contact SoOum Corp Investor relations - investors@sooum.com
Cautionary Note Regarding Forward-Looking Statements in this press release regarding the Company’s business which are not historical facts are “forward-looking statements” that involve some risks and uncertainties. The Company cautions that various factors, including the factors described under the caption forward-looking statements in the Company’s annual report on Form 10-K, could cause actual results to differ materially from the statements contained herein. These factors include the following: business conditions and volatility in the commodities market, and the general economy; competitive factors including compressed gross profit margins; shifts in market demand; product availability; reliance on key customers; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company’s reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
Steve Messina
646-801-3772
investors@sooum.com