LEHI, Utah–(BUSINESS WIRE)–Frelii Inc. (OTCQB: FRLI) (“Frelii” or “the Company”) today announced it
has issued a press release with the following letter to shareholders.
Dear fellow shareholders,
The last several months have been very eventful for Frelii and I wanted
to take the opportunity to bring you up to date on the excellent
progress we have been making. We recently posted our quarterly financial
statement, which can be viewed at www.frelii.com.
We’ve entered into a relationship with our first customer, and we’ve
continue to gain positive interest from legitimate media and investors.
In spite of many good announcements and positive milestones achieved, I
also want to address a concern regarding our common stock.
The Frelii common stock is traded under the ticker symbol FRLI on the
OTCQB Venture Market, which is designed for early stage and
developing U.S. and international companies. It is part of OTC
Markets Group Inc. (“OTC”).
On May 14, 2019 OTC informed us that they were seeing
some unauthorized promotional activity, including newsletters, emails
and online items highlighting our common stock. These pieces
included wildly speculative claims such as “hypothetical” graphs showing
the stock increasing by nearly 1,000% over the next several months and
other exaggerations, false assertions and incomplete and misleading
statements targeted at potential investors. In addition, we noted
that the Company has been included on some stock “watch lists” or
buy/sell recommendation lists that are published by third parties,
including bloggers who are in no way affiliated with the Company.
It is regretful that our good name and the positive progress we are
making have been tarnished by those who do not share the same values of
honesty and transparency that we do, including their posting of
unauthorized promotional content.
Recently, as a result of this type of third-party unauthorized online
promotional content, our symbol was flagged for “stock promotion”
and was placed under subsequent trade restrictions, which we hope to
have lifted soon. We posted a press release on May 16, entitled,
“Frelii, Inc. Issues Statement Regarding Unauthorized Promotional
Activity Involving Its Common Stock”, to ensure the market and our loyal
shareholders, customers and partners that we in no way engaged in or
knowingly allowed anyone to post unauthorized promotional content.
I want to again reiterate, in no uncertain terms, that FRLI does not
have and has never had any association with the people and the
organizations that have conducted these promotional activities. They
have had no access to non-public information regarding the Company or
its future plans. We further advise that anyone interested in
Frelii should not buy or sell any shares based upon contact with any
party that solicits prospective investors or makes claims about the
Company that have not been publicly disclosed by the Company itself.
This content was not commissioned, sanctioned or paid for by the Company
and we had no editorial control over any of those materials. We have
conducted inquiries of management and known shareholders, to the very
best of our knowledge, neither the Company, nor any of its officers,
directors, IR team or any controlling shareholders have been involved
with the creation or distribution of promotional newsletter emails or
online content that make exaggerated or misleading claims related to the
Company and its securities.
Over the past months FRELII has announced legitimate news properly and
exercised appropriate PR and IR efforts to ensure all of our news and
market-facing statements created millions of impressions across
legitimate news and Market information sites. We’ve received positive
coverage in legitimate business and industry outlets, and our brand
continues to gain popularity through the accurate information Frelii is
responsible for making available to the public and shareholders.
We pride ourselves on making it easy to access legitimate information
about our company and business activities. We frequently update our
website at www.frelii.com with
all legitimate news, company statements and legitimate media coverage.
We encourage shareholders, customers, partners and potential investors
to return frequently to learn about us and the advancements we are
making through our press releases, our filings and disclosures made with
the SEC (through the EDGAR Database) and OTC Markets Group.
Another important point is that this unauthorized promotional activity
coincided with a higher than average trading volume and volatility
in our stock price. We believe that the promotion may
have impacted the market activity, but our stock price was on an upward
trajectory primarily due to other factors including the fact
that we announced the boarding of our first revenue-generating
client Optivida on May 1, 2019 (see that press release here), and we
have more on the way. We also have growing awareness by legitimate
industry media and our solutions align with the cannabis/CBD space,
which is an industry that is attracting a great deal of investor
We have been working diligently for the past eight months to launch the
company and introduce our AI technology and new products to the market
(including the CBD industry) through traditional IR and PR efforts,
participation in industry conferences and executing on our business
growth plans. We also recently added three new members to our executive
management group who bring powerful and deep expertise across all
functional areas of the organization to round out our leadership team.
These are in addition to Jayson Uffens, who is one of the industry’s
finest CTOs in charge of our unique technology.
I believe these actions, coupled with our strategic business plans, will
prove to generate strong and sustainable growth opportunities for Frelii
and its shareholders in the coming months and foreseeable future.
We will continue to address the challenges we face in the wake of the
unauthorized activities and we will always keep our investors and
shareholders aware of legitimate and credible news from Frelii. Thank
you for your continued support.
Ian Jenkins, CEO
About Frelii Inc.
Frelii Inc. is a biotech company that uses human DNA gene sequencing and
artificial intelligence (AI) to assess more than 3.2 billion markers on
the human genome. The results are aligned and leveraged against its AI,
as a means of creating a very strong and powerful data platform for use
by the Health & Wellness, Healthcare, Medical Cannabis and
Pharmaceutical industries. Frelii’s technology generates accurate and
profoundly valuable insight into an individual’s DNA. The company
provides DNA Kit Packages and customized reporting for consumers,
patients and healthcare providers to ensure the ideal treatment, drugs
and dosing are a prime “fit” to the individual. For more information,
please visit www.frelii.com.
Frelii (OTCQB: FRLI) trades on the #OTCQB Venture Market for early stage
and developing U.S. and international companies. Companies are current
in their reporting and undergo an annual verification and management
certification process. Investors can find Real-Time quotes and market
information for the company on www.otcmarkets.com.
Follow Frelii online at:
Frelii Facebook Page https://www.facebook.com/livefrelii/
Twitter Feed @livefrelii
Frelii Instagram Page @livefrelii
LinkedIn Page linkedin.com/company/frelii/
Safe Harbor Statement:
This release contains certain “forward-looking statements” relating to
the business of the Company. All statements, other than statements of
historical fact included herein are “forward-looking statements”
including statements regarding: the continued growth of the e-commerce
segment and the ability of the Company to continue its expansion into
that segment; the ability of the Company to attract customers and
partners and generate revenues; the ability of the Company to
successfully execute its business plan; the business strategy, plans,
and objectives of the Company; and any other statements of
non-historical information. These forward-looking statements are often
identified by the use of forward-looking terminology such as “believes,”
“expects” or similar expressions and involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they do
involve assumptions, risks, and uncertainties, and these expectations
may prove to be incorrect. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date of
this news release. The Company’s actual results could differ materially
from those anticipated in these forward-looking statements as a result
of a variety of factors, including those discussed in the Company’s
periodic reports that are filed with the Securities and Exchange
Commission and available on its website (http://www.sec.gov).
All forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by these
factors. Other than as required under the securities laws, the Company
does not assume any duty to update these forward-looking statements.