ForceField Energy to Address the Recent Trading Activity of Its Common Stock
17 Aprile 2015 - 9:56PM
ForceField Energy Inc. ("ForceField") (Nasdaq:FNRG), a seller and
distributor of energy products and solutions, today requested that
a regulatory agency review the trading activity in its common stock
subsequent to the issuance of a lengthy "opinion" published by
MoxReports on April 15, 2015; in addition to any relationships,
arrangements and commonalities between short sellers and others.
The opinion was written by an individual investor, not a registered
financial advisor, who has disclosed owning a short position in the
Company's common stock. The Company maintains that the article
contains material inaccuracies about its management, business and
prospects.
Richard St. Julien, ForceField's Chairman stated, "We are not
going to stand by and allow our Company, officers and directors,
employees and shareholders to continue to suffer through what
appears to be an orchestrated short selling attack based on
misinformation. We intend to defend ourselves and pursue all
possible remedies against the allegations asserted in the opinion.
Further, we will provide our shareholders and investment community
a business update in a release pre-market on Monday, April 20,
2015."
About ForceField Energy Inc.
ForceField Energy Inc. and its subsidiaries comprise a global
company whose products and solutions focus on sustainable energy
solutions and improved energy efficiency. ForceField is a
distributor of LED and other lighting products for a number of
premier LED lighting manufacturers; and through its award-winning
subsidiaries, American Lighting and ESCO, have completed lighting
installations and retrofits as well as energy efficiency upgrades,
for numerous high profile concerns in a variety of industries.
www.forcefieldenergy.com
Forward-Looking Statements
Except for statements of historical fact, the matters discussed
in this press release are forward looking. "Forward-looking
statements" describe future expectations, plans, results, or
strategies and are generally preceded by words such as "future,"
"anticipates" or "anticipated," "believes," "estimated" or
"estimates," "plan" or "planned," "expects" or "projected." These
forward-looking statements reflect numerous assumptions and involve
a variety of risks and uncertainties, many of which are beyond
ForceField's control that may cause actual results to differ
materially from stated expectations. Some of the factors that could
cause actual results to differ materially from the forward-looking
statements contained herein include (i) failure to obtain adequate
financing to achieve the Company's LED revenue targets and to
support working capital needs; (ii) successful installation and
efficacy of the Company's LED lighting products; (iii) expansion of
the Company's product offerings and services to additional states
across the U.S., (iv) generating additional revenue and
profitability from the Company's expected national expansion
program, (v) competition within the LED industry both domestically
and internationally, (vi) efficacy of ESCO's streetlight product
offering, (vii) generating $25-30 million from the streetlight
program over the next three to five years, (viii) realizing the
potential operating and financial benefits of exiting the ORC waste
heat segment and focusing on the LED market opportunity, and (ix)
other factors, without limitation, which are set forth in documents
we file from time to time with the Securities and Exchange
Commission, which are available at www.sec.gov. For a written
description of these factors, see the section titled "Risk Factors"
in the Company's Form 10-K for the fiscal year ended December 31,
2014 and any updating information in subsequent SEC filings. The
Company disclaims any intention or obligation to update these
forward-looking statements whether as a result of subsequent events
or otherwise, except as required by law.
CONTACT: ForceField Energy Inc.
Richard ST Julien
(212) 672-1786
rstjulien@forcefieldenergy.com
www.forcefieldenergy.com
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