ClickStream Achieves Penny Stock Exempt Status Removing Penny Stock Broker Limitations
BEVERLY HILLS, CA / ACCESSWIRE / January 7, 2021 / ClickStream Corp. (OTC PINK:CLIS) a technology company focused on developing apps and digital platforms that disrupt conventional industries is proud to announce that the stock has been awarded “Penny Stock Exempt” status on www.otcmarkets.com in accordance with rules defined by the Securities and Exchange Commission (“SEC”).
“It’s gratifying to see that our shares of common stock are no longer subject to the limitations associated with Penny Stock status, granting us access to a larger pool of potential investors,” stated Frank Magliochetti, CEO of ClickStream.
Specifically, according to OTC Markets, Penny Stock Exempt status means that CLIS stock is now exempt from the limitations that accompany any security defined as a “Penny Stock” according to the SEC under Rule 240.3a51-1 because it meets one of the following tests: 1) A price of over $5 per share, 2) the issuer has Average Revenue of at least $6 million for the last 3 years, or 3) the issuer has Net Tangible Assets in excess of $2 million if the issuer has been in continuous operations for at least 3 years or $5 million if less than 3 years.
Because of the speculative nature of penny stocks, Congress prohibited broker-dealers from effecting transactions in penny stocks unless they comply with the requirements of Section 15(h) of the Securities Exchange Act of 1934 (“Exchange Act”) and the rules thereunder. These SEC rules provide, among other things, that a broker-dealer must (1) approve the customer for the specific penny stock transaction and receive from the customer a written agreement to the transaction; (2) furnish the customer a disclosure document describing the risks of investing in penny stocks; (3) disclose to the customer the current market quotation, if any, for the penny stock; and (4) disclose to the customer the amount of compensation the firm and its broker will receive for the trade. In addition, after executing the sale, a broker-dealer must send to its customer monthly account statements showing the market value of each penny stock held in the customer’s account.
CLIS shares are now exempt from those limitations.
Mr. Magliochetti continued, “We believe we have an exceptional strategic plan in place to develop, market and monetize exciting apps and digital platforms that disrupt conventional industries. We are rapidly accomplishing those objectives and believe we offer investors and our current shareholders tremendous value and opportunity.”
ABOUT CLICKSTREAM CORPORATION
ClickStream is a technology company focused on developing apps and digital platforms that disrupt conventional industries. The company is currently marketing and developing WinQuik™ and HeyPal™ respectively.
WinQuik™, is a free-to-play synchronized mobile app and digital gaming platform. The platform is designed to enable WinQuik™ users to have fun, interact and compete in order to win real money and prizes. WinQuik™ is currently in production for 2021 featuring actor Pooch Hall and other celebrity hosts such as NFL Quarterback Joshua Dobbs and celebrity chef Jordan Andino. Show subject matter includes sports, music, Hollywood, space, food and much more. Game types are set up dynamically with daily, live games and non-live games available to play multiple times daily as well as the ability to challenge friends and family 1-v-1. As a free-mium platform, ClickStream monetizes the WinQuik™ platform with corporate sponsors and advertisers. For more information please visit: web: www.clickstream.technology or www.winquik.com | twitter: www.twitter.com/winquikapp or www.twitter.com/ClickstreamC | Instagram: www.instagram.com/winquiktrivia/.
HeyPal™, by way of subsidiary Nebula Software Corp., is a language learning app that focuses on “language exchanging” between users around the world. As opposed to quizzes, flash cards and other traditional language studying tools, HeyPal™’s approach to helping its users learn a new language is by matching them together with native speakers of their target language. For example, if User A speaks English, and wants to learn French, HeyPal™ will match the user with User B who speaks fluent French and wishes to learn English. This approach makes the language learning process more fun, engaging, and encourages faster learning speed. HeyPal™ also has many social media features, including posts and media uploading to “language boards”, allowing users to post original content and be immersed completely in the language they are learning. Nebula intends to monetize HeyPal™ by integrating a unique and effective premium subscription model that will allow users to gain access to certain features that will enhance their social language experience. For more information about HeyPal™, please visit website at www.heypalapp.com and social media on Instagram: https://www.instagram.com/heypalapp/.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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SOURCE: ClickStream Corporation
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