SAN FRANCISCO, June 14, 2012 /PRNewswire/ -- Yippy, Inc. (OTCQX:
YIPI) (www.yippy.com) ("Yippy"or the"Company"), Chief Executive
Officer reports to the shareholders the following:
"The Company is rock solid, our merger and acquisitions are
moving along perfectly. I see no issues and that fact is our
phones are ringing and the industry is very excited about what we
are offering. The customers are lining up," stated Rich Granville
CEO, Yippy Inc.
"Additionally many shareholders have called and emailed
regarding the obviously abusive short trading activity and I wanted
to give a response to this matter. First, the Company has not
entered into any type of financing that would require the sale of
stock. We have only used $700K
of our $2 million credit line with
Magna. We are current with all obligations and we have
sufficient access to capital."
"Yippy has 5.79 million shares in DTC, and these are the only
Free Trading shares in the market. There are 8,040,000 free
trading shares total. Approximately 2.24 million or 25% of
the Company's free trading stock is held in certificate form out of
the market and will remain out of the market due to being locked up
in an agreement till mid-2013. This high frequency shorting
that has been occurring in our security the last couple of trading
days will be looked into by me personally. I flew into NYC last
night and will be getting to the bottom of this shortly," concluded
Granville.
About Yippy Inc.
Based in Fort Myers, Florida,
Yippy, Inc. is a technology company that specializes in the
development of search, data normalization, and aggregation through
application service environments for consumer and enterprise
markets. Yippy's proprietary web-based product suites are deployed
over cloud architecture and provide secure, redundant and
maintained Data as a Service for businesses and education markets.
The Company also operates several online web properties and
educational reference portals. Yippy (OTCQX: YIPI) has been
approved to trade on the OTCQX U.S., the intelligent marketplace
for the best OTC companies with the highest financial standards and
superior information availability. Investors can find current
financial disclosure and Real‑Time Level 2 quotes for the Company
on www.otcmarkets.com.
For more information please visit: www.yippy.com.
Contact:
Rich Granville
Investor Relations
1-877-YIPPY01
SOURCE Yippy, Inc.