CannaPharmaRx announced that its Board of Directors is reviewing options for examining and evaluating measures to address the unusual trading activity of the company's stock.
The company believes that certain individuals and/or companies may have engaged in naked short-selling practices and other manipulative actions that have artificially lowered the stock price. As a result, the company is following the blueprint of other publicly traded companies in addressing this issue. CannaPharmaRx believes the company may have been the target of a market manipulation scheme and will develop a comprehensive plan and task force to investigate. The company may utilize third-party experts to help remedy the situation.
"We are committed to executing our business model, rapidly increasing our revenue base, and growing and protecting our shareholder value. The integrity of our stock is among our highest priorities," stated Chief Executive Officer, Dominic Colvin.
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