American Premium Water Corp (OTC: HIPH) Explains Illegal Naked Shorting Being Perpetrated by Major Market Makers on HIPH Shares
PLAYA VISTA, CA, Aug. 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – American Premium Water Corporation (OTC: HIPH) (“the Company”) has engaged a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance related to substantial short selling of its stock. Regulation SHO requires bona-fide market-making activities to include making purchases and sales in roughly comparable amounts.
The Securities and Exchange Commission has stated that bona-fide market-making DOES NOT include activity that is related to speculative selling strategies for investment purposes of the broker-dealer and is disproportionate to the usual market making patterns or practices of the broker-dealer in that security. Likewise, where a market maker posts continually at or near the best offer, but does not also post at or near the best bid, the market maker's activities do not qualify as bona-fide market making. Moreover, a market maker that continually executes short sales away from its posted quotes is not considered to be engaged in bona-fide market making.
The Company has been monitoring trading activity between July 22nd and August 8th, 2019, and has noticed a pattern of irregularities in trading activity, primarily by one market maker which was facilitated by two others that could be defined as not a bona-fide market making. This analysis compared trading data to internal reports provided to the Company by the Deposit Trust Clearing Corporation (“DTCC). The data showed that there were a number of irregularities that have warranted further investigation, which necessitated the Company’s engagement of the compliance firm to generate proprietary trading data. The Company will present these findings to the regulators if the advanced data affirms its initial assessment. At that time, the Company will determine what appropriate legal options are warranted based on this advanced analyzation of the data.
About American Premium Water Corp.
American Premium Water (OTC: HIPH) is a diversified luxury consumer products company focused on businesses in the health and beauty and biotech sectors. The company is focused on harnessing the powers of Nano technologies paired without cannabidiol (CBD) to treat health disorders and enhance quality of life. The company’s portfolio includes the LALPINA Hydro and LALPINA CBD brands (www.lalpinahydrocbd.com), Gents (www.gentsco.com), Vanexxe (www.vanexxe.com) and plant + body essentials (www.plantbodyessentials.com).
American Premium Water strives in providing only the highest quality CBD sources for its products, with quality control being one of our first and foremost focuses. The Company aims for this standard not only for compliance reasons, but also to provide our customers the highest quality product possible.
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). American Premium Water Corporation cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. American Premium Water Corporation undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
This press release is issued on behalf of the Board of Directors of American Premium Water Corporation
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