SAN DIEGO, CA / ACCESSWIRE / January 11, 2021 / KULR Technology Group, Inc. (OTCQB:KULR) (the "Company" or "KULR"), announced today that it has been made aware of and was requested by the OTC Markets Group, Inc. to comment on recent promotional activity concerning its common stock.
On January 7th, 2021, the OTC Markets Group sent the Company a copy of two articles published on January 5th, 2021 by Insider Financial, a third-party marketing and awareness firm utilized by Shore Thing Media, LLC.
The Company was not aware of the release until the OTC Markets sent copies of the articles on January 7th, 2021. After inquiry of management, except with respect to the engagement of its media marketing providers, as further described below, neither the Company or any of the Company's officers were involved, directly or indirectly, with the creation or distribution of promotional materials nor were they asked to provide or did provide any editorial content.
After the Company was contacted by OTC Markets regarding the promotional activity, the Company contacted its investor relations and media marketing providers and was informed that Axiom Financial Inc. engaged Shore Thing Media, LLC for marketing services and paid market rates.
The articles discussed an overview of the Company's business along with other referenced firms. The Company does not believe that the statements in the promotional materials were false or misleading and, to the contrary, believes that the statements merely summarized already available public information on the Company.
The Company believes a press release issued by the Company on January 6th, 2021, referencing the closing of an offering with gross proceeds of approximately $8.0 million, the Company's application to list on a national securities exchange, and the Company's management expecting to report strong Q4 2020 revenues, in addition to the promotional activity, may have been factors in the increased price and trading volume of the Company's common stock on or around January 6th, 2021.
After inquiry of Company management, none of the Company's officers, directors or controlling shareholders, nor third party service providers, have sold or purchased Company securities in the past 90 days. Other than previously disclosed issuances of Series B Preferred Stock, Series C Preferred Stock and common stock pursuant to a Standby Equity Distribution Agreement, the Company has not at any point issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
In the last 12 months, the Company has engaged IRTH Communications, ProActive Investors USA, LLC, Landon Capital, and SmallCapVoice.com to provide investor relations services, Axiom Financial Inc., Baystreet.ca Media Corp., AllPennyStocks.com Media Inc., FN Media Group LLC for marketing services, Elev8 New Media LLC, SAFLink LLC, Social Start Now to handle its social media program, and Taglich Brothers and Litchfield Hills Research, LLC for paid research services.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB:KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions, and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure and electric vehicle (EV) manufacturers to make their products cooler, lighter and safer for consumers. For more information, please visit www.KULRtechnology.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Head, Media Relations
Main: (786) 499-8998
KULR Technology Group, Inc.
Main: (888) 367-5559
SOURCE: KULR Technology Group, Inc.
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