Strengthens Measures to Protect Shareholder Interests through ShareIntel's DRIL-DownTM process.
DALLAS, TX / ACCESSWIRE / March 30, 2023 / Mangoceuticals, Inc. ("MangoRx" or the "Company"), a company focused on developing, marketing and selling a variety of men's health and wellness products via a secure telemedicine platform, including its uniquely formulated erectile dysfunction (ED) drug branded "Mango," today announced that it has retained Shareholder Intelligence Services, LLC ("ShareIntel") for a 12-month, full-service agreement to review the trading of the Company's common stock to track, identify and monitor for potential illegal short selling activities and deploy solutions to help combat any such activities.
ShareIntel aggregates and analyzes shareholder trading data through its DRIL-DownTM process, a compliance driven Software-as-a-Service "SaaS" platform that examines equity flows and reveals suspicious, aberrant, and/or unusual trading activity. The tool aims to help management to identify, interpret and communicate shareholder and broker-dealer movement to the market.
The Company is concerned that it may have been the target of a market manipulation scheme involving illegal short selling based on the recent trading pattern of the stock. The Company is committed to taking all necessary actions to protect the interests of its shareholders and will continue to work with ShareIntel and other partners to combat potential manipulative and egregious illegal short selling and trading activities to help ensure fair market conditions.
About Shareholder Intelligence Services, LLC
Shareholder Intelligence Services, LLC, or ShareIntel, is a compliance driven Software-as-a-Service ("SAAS") provider, retained by public companies to track shareholder ownership, monitor critical broker-dealer and shareholder movement. This process is managed through a proprietary patented web-based application known as the "Data Repository Information Link" system, DRIL-DownTM. The ShareIntel solution empowers public companies with unique analytical tools and provides actionable analytic metrics to help identify abusive short selling, coordinate and monitor for regulatory compliance and provide solutions to help facilitate investor relations, shareholder outreach and more. www.shareintel.com.
About Mangoceuticals, Inc.
Mangoceuticals, Inc. is a company focused on developing, marketing and selling a variety of men's health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men's wellness telemedicine services and products as a growing sector and especially related to the area of erectile dysfunction (ED). The Company has developed a new brand of ED product under the brand name "Mango" (think "Man Go"). For more information, please visit www.MangoRx.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and the MangoRx brand and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the use of proceeds from the offering, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of COVID-19, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, general economic conditions and other risk factors detailed in the "Risk Factors" section and elsewhere in the Company's final prospectus relating to the offering filed with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
FOR MEDIA AND INVESTOR RELATIONS
Fraxon Market Initiatives, LLC
SOURCE: Mangoceuticals Inc.
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