Atlanta, GA -- February 26, 2025
-- InvestorsHub NewsWire -- Vaycaychella, Inc. (OTC
Pink: VAYK) ("VAYK") clarifies that its news release dated
February 18, 2025, contains clerical errors that need
correction.
The news release
correctly stated that their newly issued preferred shares were
issued with a conversion price of $0.005, which is significantly
higher than the most recent closing trade price of $0.0008 for
VAYK's common shares. Consequently, any shareholders who have
purchased or will purchase VAYK stocks below the price of $0.005
will benefit from a premium.
However, due to a
clerical error involving an incorrect formula, the news release
erroneously claimed that $0.005 is "40 times higher than" $0.0008,
when in fact it is only 6.25 times higher.
A similar clerical
error occurred when the news release incorrectly stated that
$0.0073 is "90 times higher" than $0.0008, while it is actually
"9.1 times higher".
"These clerical
errors are regrettable," said Stephanie Anderl, Interim CEO of
VAYK. "However, they are very basic mathematical errors, and any
reasonable person should be able to recognized them."
"More
importantly, whether it was 40 times higher or 6.25 times
higher should not have any material impact on any investors' profit
or loss at this moment or in the foreseeable future, and
therefore should not have any material impact on any investors'
decisions," Anderl added.
A corrected full
version of the February 18 news release is attached below.
======Full text of Corrected News Release dated
February 18 ========
VAYK Confirms No Dilution Following Recent
Acquisition and 11 Million Insider Purchase
(Atlanta, Georgia, February 18,
2025) – Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") confirmed
today that the company's common shares will not experience any
dilution upon the closing of its recent acquisition of a $1 million
company.
-
No Dilution Until 24 Months
Later & Above $0.005 PPS
"We completed this
no-cash acquisition by issuing to the seller preferred shares with
a total face value of $500,000," explained Stephanie Anderl,
interim CEO of VAYK. "These preferred shares are non-tradable. They
can only be converted after 24 months or when our stocks are stably
traded above $0.005 per share."
Even when those
shares become eligible for conversion, the conversion will be
conducted at a fixed price of $0.005 per share. Therefore, any
shareholder who has purchased or will purchase VAYK stocks below
the price of $0.005 will experience no dilution, and will instead
enjoy a premium.
"Our common stocks
closed at $0.0008 per share yesterday, which is less than 1/6 of
these preferred shares' conversion price. In other words, the
conversion price is 6.25 times higher than our current share
price," said Anderl.
-
No Free-tradable Shares issued
for Almost 3 Years
In fact, VAYK has
not issued any free-tradable shares since May 2022, which is almost
3 years ago. The company has only delivered two issuances of
restricted shares since then. These include approximately 43
million restricted shares issued at a price of $0.0073, which is
9.1 times higher than the current share price. The other issuance
is 20 million restricted shares issued at a price of $0.0008, but
those shares are not eligible for trading until July 2026.
Anderl emphasized
that the company is committed to not issuing any free-tradable
shares until its share price rebounds to a "reasonable
level".
"We understand that
people will have different opinion on what a reasonable level
should be," said Anderl. "Let me put it in this way: we believe
that it is unreasonable for a company to issue low-cost shares to
flood the market, when there are still substantial number of
investors who have purchased our shares in the last 3 years are
under water."
-
Insider Purchase of Over 11
Million Shares
Additionally,
Anderl disclosed that a person who holds insider information has
purchased more than 11 million shares on the open market since last
November.
"The insider made
those purchases because they believed there were no other channels
to acquire our common shares at the current price level," elaborate
Anderl. "As our disclosure has shown, the company has not issued
any low-cost shares in the past three years and will definitely not
issue any free-tradable shares at the current market level. Anyone
who wants to own shares at the current market price level will have
to buy from the open market."
Anderl shares that
the insider has expressed their intention to purchase more share on
the open market, but has given no indication about the timing and
volume of future purchases. Also, since VAYK is not SEC
reporting, insider trading will not be disclosed on Form 4 or Form
5 but will be disclosed alternatively.
Disclaimer/Safe
Harbor: This news release contains forward-looking statements
within the meaning of the Securities Litigation Reform Act. The
statements reflect the Company's current views with respect to
future events that involve risks and uncertainties. Among others,
these risks include the expectation that any of the companies
mentioned herein will achieve significant sales, the failure to
meet schedule or performance requirements of the companies'
contracts, the companies' liquidity position, the companies'
ability to obtain new contracts, the emergence of competitors with
greater financial resources and the impact of competitive pricing.
In the light of these uncertainties, the forward-looking events
referred to in this release might not occur.
VAYK Contact:
Contact@Vaycaychella.com
Vaycaychella (PK) (USOTC:VAYK)
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