LAS VEGAS, NV / ACCESSWIRE / September 29, 2023 / Pedro's List Inc. (OTC Pink:PDRO) ("Pedro's List" or the "Company"), a next-generation service provider connection app designed to bring consumers together with home-related service providers in Mexico, has issued this Official Company Statement to provide clarity and an update to all shareholders regarding the Caveat Emptor (CE) that was placed on the PDRO ticker after trading hours on Thursday September 28, 2023.
With respect to PDRO, the CE designation was made by OTC Markets Group after a determination was made that there may be potential risk to investors resulting from, primarily, public policy concerns. The current management team at PDRO was first made aware of the situation when the CE was actually placed on the PDRO ticker after the close of market hours on September 28, 2023, and had no understanding or knowledge of the reason behind it at that time.
Immediate internal investigations were conducted, and all indications are that the CE placement relates to the Company's submission of its QB application and, specifically, certain information provided by the Company to OTC Markets in connection therewith. Unfortunately, OTC Markets analyzed that information and made the CE placement decision without prior communication with any member of the Company's management team. While we understand the rationale behind the decision to place the CE on the PDRO ticker symbol, an in depth review will clear-up any issues or questions that OTC Markets has as pertains to the Company, its management, directors and/or shareholders.
It is important to note that the current management team and Board of Directors will fully comply with OTC Markets in our quest to have the CE removed. In fact, just today, Eden Miller, our co-founder and a Director of the Company, reached out to the Surveillance Team at OTC Markets to discuss the CE placement and the process to have it removed. Management believes that the "call was very informative and very frank. Both OTC Markets and the company want this issue cleared up and resolved. We are a Company based in Mexico with Mexican investors and shareholders, and often times that might lead to confusion resulting from such parties not being in the United States."
PDRO remains committed to delivering on its business objectives and strategy, and it is "business as usual" in terms of business development, completing our app and operations. However, there are immediate steps that the management team are taking today in order to minimize any negative impact and ring-fence the situation as best as possible. We have made ourselves available to OTC Markets at their discretion to provide whatever information or documentation that they require to fast-track this CE removal.
Eden Miller provided the following comments: "The entire team at Pedro's List would like to take this opportunity and provide reassurance that we, along with multiple experienced counsel, are working tirelessly to navigate the current issue with the best interest of our shareholders in mind. We will comply with each and every request by OTC Markets until we have successfully had the CE removed." OTC Markets has advised that the CE must remain on for 30 days per their policy, after which we will be actively engaged with OTC Markets for the CE to be removed as quickly as possible. "It would truly be fantastic to get the CE off and be able to launch our app at the same time. We appreciate the loyalty and support our shareholders are showing today, and will work day and night to get the CE off!" proclaimed Miller.
Further updates regarding the CE will be provided as they become available.
ABOUT PEDRO'S LIST INC.
Pedro's List Inc. is fully reporting company with the Securities & Exchange Commission that trades on the OTC under the symbol "PDRO." Presently, the Company's operations are based solely in Mexico where we focus on connecting homeowners and consumers with service professionals for home repair, maintenance and improvement projects. Pedro's List provides the technology tools and resources to allow homeowners to find local pre-screened, customer reviewed service professionals and instantly book appointments online or through the mobile application. An experienced team has been assembled to implement the plan to offer these services to consumers in a better way and significantly benefit service providers through technology. Our plan is to
expand to other non-USA based markets once we successfully launch our mobile app and functional homeowner/provider website.
SAFE HARBOR FORWARD LOOKING STATEMENTS
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected in
or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and secure construction contracts and the necessary assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC and/or OTCDNS filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time. Words such as "estimate," "project," "predict," "will," "would," "should," "could," "may," "might," "anticipate," "plan," "intend," "believe," "expect," "aim," "goal," "target," "objective," "likely" or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future
events or otherwise. From time to time, the Company may post new and material information on its corporate website or through its social media profiles at the links below:
https://www.pedroslistinc.com
https://www.facebook.com/pedroslistmx
https://www.instagram.com/pedroslist/
https://www.reddit.com/user/pedroslist
https://www.linkedin.com/company/pedroslist/about/
Investor and Media Relations:
Wall St. Advisor Group Limited
(302) 579-0070
[email protected]
SOURCE: PEDRO'S LIST, INC.