SAN ANTONIO, Dec. 12, 2017 (GLOBE NEWSWIRE/KOREA IT TIMES) -- Digerati Technologies, Inc. (“Digerati” or the “Company”) (OTCQB:DTGI), announced today that OTC Markets Group Inc. (“OTC Markets”) informed the Company on December 8, 2017 of certain promotional activities concerning Digerati and its common stock traded on the OTCQB Marketplace. The Company was unaware of the promotional activity until informed by OTC Markets and is unaware of the full nature and content of this promotional activity, the responsible parties, or the extent of the dissemination.
Digerati, its officers, directors and, to the Company's knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have not, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of promotional materials of any kind with respect to the Company or its securities.
Since January 1, 2015, the Company has not issued any shares at a discount from market on the date of issuance or any options, warrants or convertible securities allowing exercise or conversion at a discount from the market on the date of issuance. Certain officers received stock in lieu of cash compensation on January 05, 2017 and June 29, 2017 under the Company’s 2015 Equity Compensation Plan filed with the Securities and Exchange Commission (“SEC”). Except for compensation grants, neither the Company’s officers, directors nor controlling shareholders have sold or purchased the Company's securities within the past two years.
"The Company has reported on and provided disclosure of legitimate and ongoing corporate activity in its regular press releases and filings with the SEC. Management encourages those interested in the Company and its securities to rely solely on this information," stated Arthur L. Smith, CEO of Digerati.
Digerati has engaged The Eversull Group and Alta Waterford for investor relations, and Corporate Communications Center, Inc. for maintaining an investor database and distribution of Company press releases, and Worldwide Financial Marketing, Inc. for financial public relations. Other than these firms, the Company has not engaged or authorized any person to provide marketing services, investor relations services, public relations services, or other related services.
Digerati is a publicly-traded holding company, with a track record of launching and managing successful subsidiary operations, and is a multi-year recipient of Deloitte’s Fast500 and Fast50 Awards, for recognition as one of the fastest growing technology companies in North America. Through its subsidiary, Shift8 Networks, the Company is meeting the global needs of businesses seeking simple, flexible, efficient, and cost-effective communication solutions, including fully-hosted IP/PBX, VoIP transport, SIP trunking, and customized VoIP services, all delivered Only in the Cloud™ on its carrier grade network. Former subsidiaries include ATSI Communications, Inc., an international telecommunications operator serving emerging markets throughout Mexico and Latin America, and GlobalSCAPE, Inc., an Internet software company specializing in secure file transfer through its popular utility, CuteFTP. Other subsidiaries included a global VoIP carrier and oilfield service businesses operating in the Bakken Shale. For more information, please visit www.digerati-inc.com.
Contact:
Jack Eversull
The Eversull Group
(972) 571-1624
(214) 469-2361 fax
jack@eversullgroup.com
