SOURCE: PEN Inc.

Products enabled by nanotechnology

December 02, 2015 09:00 ET

Pattern of Short Positions Drives PEN to Seek Investigation

DEERFIELD BEACH, FL--(Marketwired - December 02, 2015) - PEN Inc. (OTCQB: PENC) ("PEN" or "the Company"), a global leader in developing, commercializing and marketing enhanced performance products enabled by nanotechnology, today announced that it has asked regulators to investigate the significant, recurring short positions taken by market makers in PEN stock. The Company has passed on to FINRA and OTC Markets the information that it has, including names of those who seem to be involved. "Management is working full-time to create value for our stockholders," said Dr. Scott Rickert, Chairman and CEO of PEN. "For months now it has appeared that any uptick in our stock price is met with an increase in the short position in our stock. This, I believe, artificially lowers our stock price that allows those with short positions to benefit at the expense of our long-term investors. We have, accordingly, reached out to see what can be done to stop this behavior and will evaluate other options that may be open to us."

About PEN Inc.
PEN Inc. (OTCQB: PENC) is a global leader in developing, commercializing, and marketing enhanced performance products enabled by nanotechnology that solve everyday problems for customers in the optical, transportation, military, sports, and safety industries. Through its wholly-owned subsidiary Nanofilm Ltd., the Company develops, manufactures and sells products based on nanotechnology including its Ultra Clarity® brand eyeglass cleaner and Defog It™ brand defogging products. The Company's Applied Nanotech, Inc. subsidiary in Austin, Texas functions as the Design Center conducting research and development services for government and private customers and new product development for PEN focusing on innovative and advanced product solutions in the areas of safety, health, and sustainability. The Company also sells its environmentally friendly HALO™ brand surface protector, fortifier, and cleaner through its wholly-owned subsidiary, PEN Technology, LLC. For more information about PEN, visit www.penc.us.

Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties concerning our business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in our annual report on Form 10-K for the fiscal year ended December 31, 2014, and in reports subsequently filed by us with the Securities and Exchange Commission.("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from our website listed above. We hereby disclaim any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.

Contact Information

  • Contact Information:
    PEN Inc.
    Elaine Ketchmere
    Email contact
    (844) 273-6462