JACKSONVILLE, FL / ACCESSWIRE / November 22, 2023 / ParkerVision, Inc. (OTCQB:PRKR) (the "Company") has received a request from OTC Markets Group Inc. ("OTC Markets") to issue a statement about recent promotional activity concerning the Company and its common shares.
On November 20, 2023, OTC Markets notified the Company of certain promotional material encouraging investors to trade the Company's common stock. The material was in the form of an email communication distributed by ThePennyStockPros.com on November 20, 2023, and includes false and misleading statements regarding receipt of media support and payments from the Company, or parties under contract with the Company, to publish and/or distribute advertisements on behalf of the Company. The Company had no knowledge of the promotional material until notified by OTC Markets Issuer Compliance Team. The Company and/or its officers were not involved, directly or indirectly, with the creation, distribution, or payment of the promotional material. The Company is unable to determine if this material had any impact on the trading activity of the Company's common stock.
As required by the OTC Markets Promotion Policy the Company, after inquiry of management, its officers, directors, any controlling shareholders (defined as shareholders owning 10% or more of the Company's securities), and its service providers, confirms the aforementioned parties have not, directly or indirectly, been involved in any way with the creation, distribution, or payment of promotional materials related to the Company and its common stock.
The Company approves the activities and content of all public relations and investor relations activities carried out by our inhouse and contracted staff, and in doing so, will continue to comply with the Securities and Exchange Commission ("SEC"), FINRA and OTC Market guidelines. In the last 12 months, the Company has contracted with two service providers for investor relations, public relations, marketing or other related services. These providers include Intro-Act, engaged to provide artificial intelligence (AI) supported shareholder awareness and corporate access services from June 2021 through March 2023, and Anthony Vignieri, engaged on a contract basis since June 2020 as the Company's communications director.
As required by the OTC Markets Promotion Policy the Company, after inquiry of management, the directors, control persons, and its service providers, has determined that none of the Company, its officers, directors, any controlling shareholders, or any service providers have sold or purchased the Company's securities within the past 90 days, except as disclosed in the Company's public filings available on EDGAR or through the Company's website.
The OTC Markets, as part of its OTC Markets Promotion Policy, has requested that the Company state whether it has issued any shares or convertible instruments allowing conversion into equity securities at prices constituting a discount to the current market price at the time of issuance. As disclosed in its public filings available on EDGAR or through the Company's website, the Company has from time to time issued shares or convertible instruments allowing conversion into equity securities at prices constituting a discount to the then-current market rate. Please refer to the Company's most recent Form 10-Q for the period ended September 30, 2023, filed with the SEC on November 14, 2023, for a full list of convertible instruments and share issuances.
About ParkerVision
ParkerVision, Inc. invents, develops and licenses cutting-edge, proprietary radio-frequency (RF) technologies that enable wireless solution providers to make and sell advanced wireless communication products. ParkerVision is engaged in a number of patent enforcement actions in the U.S. to protect patented rights that it believes are broadly infringed by others. For more information, please visit www.parkervision.com. (PRKR-I)
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. The Company does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company's forward-looking statements.
Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 and disclosures in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, June 30, 2023, and September 30, 2023, filed with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statement and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
