FT. LAUDERDALE, FL / ACCESSWIRE / May 4, 2023 / Security First International Holdings, Inc. (OTC PINK:SCFR) would like to update shareholders and interested parties on a request made by our CEO, Brian Fowler to his Prime Broker for delivery of a certificate for shares bought through the open market in February, 2023. The purpose of the certificate delivery is to return the shares to treasury for cancellation as part of an ongoing plan to reduce the outstanding issued shares of the Corporation.
Mr. Fowler requested the shares on March 1st, 2023 from his Prime Broker, as the shares had settled and were showing in his account. As of May 1st, 2023 over 2 months later, the Prime broker has been unable to deliver the shares.
As a non-DTC company, the shares of SCFR are held in the shareholders name directly, or if purchased through a broker, in the name of the stockbroker on behalf of their clients.
SCFR consulted the shareholder list as maintained by the companies verified transfer agent. This list contained the number of shares owned by the Prime broker on behalf of their clients. The company then requested and obtained the non-objecting beneficial owner list (commonly referred to as the "NOBO" list) This list identifies all the underlying beneficial shareholders within the brokerage firms.
After careful review of the SCFR Shareholder List, and the NOBO list it has become apparent that a number of Prime Brokers clearly appear to lack sufficient SCFR shares to cover the imbalance between what shareholders report as owning through their brokerage account statements, and what the brokers actually own in SCFR shares according to the companies verified transfer agent.
Security First International Holdings, Inc. has notified the Prime Brokers of this imbalance, and intends to vigorously pursue any all remedies in order to correct what it perceives as possible naked shorting and market abuse. The company will keep shareholders informed as events transpire.
The company is actively exploring the hiring of specialized legal councel and companies familiar with these types of clear, unethical, and potentially illegal market abuses.
About Security First International Holdings, Inc.
Security First International Holdings, Inc. is a technology incubator for early-stage web and mobile projects.
Contact
Security First International Holdings, Inc.
info@scfrholdings.com
(954) 546-1501
Forward Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or the Company's future financial performance. In some cases, forward-looking statements may be identified by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
SOURCE: Security First International Holdings, Inc.
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https://www.accesswire.com/752958/CEO-Mr-Brian-Fowler-Updates-Shareholders-on-Potential-Naked-Shorting-and-Failures-To-Deliver-FTD
