Milford, PA -- (ReleaseWire) -- 08/01/2016 --Manzo Pharmaceuticals, Inc. (OTCPink:MNZO) announced today that the company's President, Kenneth Manzo, has received a verbal Wells Notice from the US Securities and Exchange Commission.
The notice addresses two press release issues, Mr. Manzo's accepting and selling unregistered securities in another company prior to his becoming MNZO's CEO, and certain sales of unregistered securities by others. Mr. Manzo himself has never sold any MNZO stock.
A Wells Notice is neither a formal allegation of wrongdoing nor a finding that there was any violation of law. Rather, it provides an opportunity to respond to issues raised by the SEC staff and offer perspective prior to any SEC decision.
The matters at issue concern Mr. Manzo directly. Mr. Manzo is negotiating a settlement with the SEC in these matters. Mr Manzo intends to continue to cooperate fully with the SEC. The Company and Mr. Manzo will have no further comment on this matter until it is fully resolved.
About Manzo Pharmaceuticals, Inc.
Manzo Pharmaceuticals, Inc. is a specialty pharmaceutical company engaged in the research, development, and testing of patented and non-patented solutions and remedies. Most notable is a patented probiotic for lactose intolerance, and a natural sleep aid.
For more information follow the company on twitter at @manzopharma, and visit http://www.manzopharma.com.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.