CHICAGO, IL--(Marketwired - May 29, 2014) - Epazz, Inc. (OTC Pink: EPAZ) (PINKSHEETS: EPAZ) (the "Company"), a leading provider of cloud based business software solutions, today reports the Company's awareness of shareholders' frustrations with the performance of the Company's stock over the last few months. Notably, there is data reported by OTCShortReport.com that leads to the possibility that over 900 million shares have been shorted in the month of May alone.
To view the short selling report on EPAZ, visit http://dtg.fm/epaz-short-selling
Short selling is the sale of a security that is not owned by a seller, or that a seller has borrowed. Covering shorts refers to the purchase of the exact same security that was initially sold short. Short selling is motivated by the belief that a security's price will decline, enabling a shorted security to be "covered" at a lower price creating a profit.
At some point all (non-naked) short positions must be covered. In the event the shorts are required to cover their positions (i.e., close an open short position) and the volume of a company's securities is limited, there is the potential that the price of the stock will increase with the increase in demand caused by the short covering (also known as a "short squeeze").
The Company would like to remind shareholders the Company is continuing to work to increase its revenues and expand its operations. Additionally, the Company is currently working to complete its financial statements to file its deficient reports with the Securities and Exchange Commission.
The Company cannot confirm and makes no representations whatsoever regarding the information and data set forth at OTCShortReport.com.
Epazz, Inc.'s CEO, Shaun Passley, Ph.D., said, "We are working to grow the Company and continue to increase our revenues."
About Epazz Inc. (www.epazz.com)
Epazz Inc. is a leading cloud based software company that specializes in providing customized cloud applications to the corporate world, higher education institutions and the public sector. Epazz BoxesOS™ v3.0 is the complete business web-based software package for small to mid-size businesses, Fortune 500 enterprises, government agencies, and higher education institutions. BoxesOS provides many of the web-based applications organizations would have to otherwise buy separately. Epazz's other products are AgentPower™, a workforce management software, and AutoHire™, an applicant tracking system.
Certain statements contained in this press release are "forward-looking statements". Forward-looking statements generally can be identified by the use of forward-looking statements such as "may," "expect," "intend," "estimate," "anticipate," "believe," or "continue" (or the negative thereof) or similar terminology. Such forward-looking statements are subject to risk, uncertainties and other factors that could cause actual results to differ materially from future results or implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements.
Epazz assumes no obligation and does not intend to update these forward-looking statements and takes no obligation to update or correct information prepared by third parties that is not paid for by Epazz. Investors are encouraged to review Epazz's public filings on SEC.gov, including its unaudited and audited financial statements, and its Registration Statement, Form 10-K's and Form 10-Q's, which contain general business information about the Company's operations, results of operations and risks associated with the Company and its operations.