Flemington, NJ - (Accesswire- Aug 8, 2013) - Further to the Company news release of August 5 2013, Kenergy Scientific, Inc. (KNSC) http://www.knsc.info/ is utilizing this opportunity to address its shareholders and followers regarding its current price fluctuation, and what it verily believes to be a substantial short or oversold position. Regardless of what classification, this overhang is labeled either a short position or oversold position; the fact remains and the KNSC management is of the opinion, that a certain New York based financing group working in concert with the transfer agent and certain offshore broker dealers is placing a damper and a stranglehold on KNSC ability to truly reflect its true price valuation.
Whilst, the new management acknowledges that the ex-management did engage in this toxic death spiral financing schemes with this New York group, the company is of the opinion that that the financier presold their entire portfolio at a much higher share price with or through off shore brokerages. They are currently attempting to cover the oversold position with the current KNSC much lower valuation. KNSC management also opposes the comfy relationship its transfer agent has with the financier which in fact favors one group of shareholders over another and is disenfranchising the entire shareholder base. The company has also been made aware of certain group of Internet chat board posters, dressed up as shareholders, who have become starch critics of anything KNSC does or any progress it makes. The company reminds their followers that these critics hide behind various pseudos’ with hidden agendas which pray on novice and unsuspecting readers.
A detailed quarterly report will shortly be posted on KNSC corporate website including and followed up by the "Super 8k". This is a factual true set of documents that the reader should relie upon. Those documents will elaborate on all KNSC activities and progresses made to date.
Manuel Canales KNSC CEO is currently finalizing staff training and sales solicitation of Sparx Business Media should commence this month. Sparx Business Media, Inc. http://www.sparxbusinessmedia.com/ is a startup company, which will operate as a licensee of KNSC. It brings with it the much needed cash KNSC needs (approximately $1 million dollars) which will allow both entities to set their new business plan in motion without the need to seek further financing of any sort or engage in any sort of dilution. KNSC share structure remains undisturbed since the new management and new stakeholder (preferred shareholder) takeover of KNSC.
KNSC management assures its shareholders that it has no intention to stand down to the toxic financiers demands and moreover the company intends to seek all legal remedies available to protect its and KNSC shareholders position.
More updates will follow on a timely basis as they become available.
Safe Harbor Statement
This press release contains 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. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Kenergy Scientific, Inc.
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