- Sprout AI (SPRT) has clarified its October 28th update on recent high-volume trading
- The company wishes to convey that the update was not reviewed by IIROC or the CSE prior to its dissemination
- It also wishes to clarify that Support.com was halted from trading due to volatility from a merger that took place in September 2021
- The company has reiterated that last month’s downward pressure on its stock is not a reflection of its financial health or future business opportunities
- Effective November 5, 2021, Sprout will officially trade on the CSE under the symbol BYFM
- Sprout AI is a vertical farming technology company that designs and manufactures sustainable and scalable AI-controlled cultivation equipment for indoor farming
- Sprout AI (SPRT) remains halted from trading at $0.495 per share
Sprout AI (SPRT) has clarified its October 28th update on recent high-volume trading.
The company wishes to convey that the update was not reviewed by IIROC or the CSE prior to its dissemination.
It submitted multiple concerns to IIROC, received an acknowledgement of the submission, and regrets any implication that IIROC had validated or given merit to any of the company’s allegations in last month’s update.
The company also wishes to clarify that Support.com (NASDAQ:SPRT) was halted from trading due to volatility from a merger that took place in September 2021, and not due to short selling as previously reported.
Sprout is not aware of any material, undisclosed corporate developments and has no material changes to report at this time. It therefore believes that last month’s downward pressure on its stock is not a reflection of its financial health or future business opportunities.
The company is transitioning from primary reliance on equity financing to reliance on non-refundable client deposits and anticipates its working capital will continue to improve over time.
Effective November 5, 2021, the company will begin trading on the CSE under the symbol BYFM. The symbol is currently not in use in Canada or the U.S.
Sprout AI is a vertical farming technology company that designs and manufactures sustainable and scalable AI-controlled cultivation equipment for indoor farming.
Sprout AI (SPRT) remains halted from trading at $0.495 per share as of 11:49 am ET.
