DENVER--(BUSINESS WIRE)--Leafbuyer Technologies, Inc. ("Leafbuyer" or the "Company") (OTCQB:LBUY), a leading cannabis technology platform announced that it has been requested by the OTC Markets Group, Inc. to comment on a recent promotional activity regarding its common stock, which is quoted on OTC Markets. In February 2018, the Company entered into an investor relations agreement, with MIDAM Ventures, LLC, (“Midam”) which runs until October 2018 which provides for services to the Company including investor relations, business consulting services, search engine optimization (SEO), and assisting to increase web traffic growth and presence.
On May 17, 2018, OTC Markets informed the Company that it had received copies of a promotional newsletter and an email promoting the Company.
The Company is unaware of any effect on the trading activity of the Company’s common stock since the Company’s common stock traded with similar or greater volume and at higher prices prior to the retention of Midam in February 2018 or the distribution of the newsletter. For example, on February 2, 2018, the date Midam was engaged, the common stock was trading at approximately $2.04. Moreover, the Company has previously issued several press releases and has filed SEC reports containing information regarding the Company's business, opportunities, business plans, and recent securities offerings necessary to effect the business plan.
The Company's recent press releases have reported on and provided disclosure of legitimate and ongoing corporate activity only and are not part of any promotional activities or campaign.
After inquiry, the Company states definitively that its officers, directors and, to the Company's knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities), of which there are only three, have not, sold or purchased the Company's securities within the past 90 days on the open market. The promotional material primarily consisted of previously disclosed and available information. After a review of the material, the statements contained therein are neither materially false nor misleading.
In February 2018, the Company engaged Midam, which is the owner of the marijuanastocks.com website for market awareness. The Company engaged Midam in February 2018 for cash in the amount of $100,000 and 77,000 shares of common stock. The Company re-engaged Midam in April 2018 for an additional 6 months for the same services for $125,000 in cash. The newsletter states that the Company paid “up to $475,000 (CASH),” However, the Company did not pay $450,000 in cash to Midam, only the $225,000 cash fee.
In December 2017, the Company engaged and continues to engage TraDigital Marketing Group, Inc., a strategic advisory, investor and public relations firm to assist the Company in social and digital media strategies and to evaluate digital coin and token usage. Other than these consultants, the Company has engaged no third parties to provide marketing services, provide investor relations services, public relations services, or other related services.
Additionally, while the Company has sold securities at a discount to market, such offerings are completely unrelated to Midam or any other party.
About Leafbuyer Technologies, Inc.:
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside cannabis businesses to showcase their unique products and build a network of loyal patrons. The company’s online network reaches millions of marijuana consumers monthly. Leafbuyer is the official cannabis deals platform of LA Weekly, Voice Media Group and Dope Media.
Forward Looking Statements
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Leafbuyer Technologies, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Leafbuyer Technologies, Inc. assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. Leafbuyer Technologies, Inc. assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
Learn more at leafbuyer.com.