Dear Shareholders,
Over the last few weeks it appears our company has been under some sort of attack. There is a significant amount of stock trading at very low levels that do not make any sense to the company. Last year when we fought through our toxic debt situation with Asher, we didn't even see this type of manipulation at low levels. So it is very surprising to us that there is so much stock trading down at these levels. Quite frankly, as a CEO and my personal opinion, I am not even sure a lot of this stock trading here is real.
Last week I notified investors that I was looking into the issue with our trading symbol in Berlin. I spoke to the Berlin stock exchange and was told because we are on the Pinksheets that the market cannot accept us for trading. I explained to them that it is the same company, we are fully reporting and there is not any difference in the company other than the change in market. They referenced the OTCQB as qualified exchange. This to me is nonsense as the OTC means "Over the Counter" it is not an exchange. It is simply a quotation board where companies are traded. This does not mean a listing. In any event they said if we get back on the OTCQB we will be re-quoted on Berlin.
The new requirements to be on the OTCQB are two things. 1. A fee of $10,000 per year. and 2. A minimum bid price of 0.01
Our company is trading at 0.003 which has an approximate market cap of around $430,000.
In the crazy world of the OTC it is not common for a "SHELL" to be sold for $250,000 with no assets!
So to say that all my current assets, my team, contracts, royalties, the licensing agreements, future blue-sky potential and everything else we have in the pipelines is worth the equivalency of $179,000 is an absolute insult to me! I guess I can see why most start-up tech companies just stay private, they can make up their own valuations off 1 investor.
In any event, the company is watching what is going on and we are taking steps to turn this around. It will be a hard battle, but we will continue to fight and with that being said, we have some very big changes coming in the near near future.
The company will work towards getting a re-listing on the OTCQB at our earliest opportunity. Furthermore, we have spoke to a US broker who is willing to take on any clients from Germany who need a new broker to hold their position in Myriad. If you are a German investor and having problems having your German shares turned into US shares, please contact the company and we will help guide you with fixing this situation.
Thank-you for your continued support and we look forward to ending this year on a positive note.
Kind Regards,
Derek Ivany
CEO
Myriad Interactive Media Inc. |
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