The Shareholders Foundation announces that an investigation on behalf of investors of Axesstel, Inc. (OTCMKTS:AXST) shares was launched over potential securities laws violations by Axesstel, Inc. and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of Axesstel, Inc. (OTCMKTS:AXST) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Axesstel, Inc. (OTCMKTS:AXST) concerning whether a series of statements by Axesstel, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On June 13, 2013, Axesstel, Inc. provided a company update. Among other things, Axesstel, Inc. said that it was anticipating a weak 2013 second quarter “due to slower demand in Europe, product launches in Africa that were delayed to the second quarter as a result of minor warranty issues, and a slower than expected rollout of the Company’s new products in 2013.”
Axesstel, Inc. (OTCMKTS:AXST) reported that its annual Total Revenue rose from $54.13 million in 2012 to $59.66 million in 2012 and that its Net Income increased from $1.10 million to $4.31 million.
Shares of Axesstel, Inc. (OTCMKTS:AXST) grew from $0.069 per share in May 2011 to as high as $1.90 per share in early 2013.
On April 10, 2014, OTCMKTS:AXST shares closed at $0.109 per share.
Those who purchased shares of Axesstel, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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