ATLANTA-(BUSINESS WIRE)-FLASR, Inc. (FLSR) (the “Company”) has become aware of certain promotional activity that has caused the Company’s volume of trading to increase substantially. The Company first became aware of the promotional activities on October 26, 2015. The promotional activity was related to the conversion of several promissory notes, which occurred on Monday, October 26, 2015. In connection with the conversions, promotional newsletters were circulated to the certain known groups of investors. The Company’s substantially increased trading activity was due largely to the aforementioned conversions, circulation of the newsletters, and related, subsequent trading. Neither the Company, nor its officers, directors, or any controlling shareholders have directly or indirectly been involved in any way with the creation or distribution of promotional materials including email newsletters related to the Company and its securities. Furthermore, neither the Company, nor its officers, directors or any controlling shareholders have sold or purchased the Company’s securities within the past 30 days.
The Company has previously issued convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance. Information relating to the issuance of the Company’s convertible instruments can be found in Part I, Item 1, Note 5 of the Company’s most recent Form 10-Q, filed August 14, 2015.