Palm Harbor, FL, Feb. 07, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Milan Saha, Esq., PENNEXX’s outside counsel, has issued a statement which can be downloaded at http://www.pennexx.net/200207MilanSaha.pdf.

This statement is in response to allegations made against the company.

The statement explains that due to the importance of accurate information about a company whose stock is publicly traded, Mr. Saha would like to clarify misinformation made by anonymous sources.

In his statement he says, “After again reviewing the company’s conduct including all of its news releases, I see no violations of securities law or fraud by the company in any of the reporting of material information to the public.”

He also goes on to say, “The company is reporting properly providing adequate current information as I stated in my published attorney letter and I ensure that it continues to do so.”

Furthermore, he states, “The most critical of the allegations made against the company is that it still does not have any real assets or business, and that the information published about the company is merely an attempt to ‘pump’ the stock so certain holders of it can ‘dump’ it later. I can categorically deny this allegation as being untrue. The company is now operating a real business with real technology with commercial applications.”

About Pennexx Foods Inc. (PNNX: OTCMKTS US). Pennexx, through its wholly owned subsidiaries, is a holding company within the Software/Internet Industry that is focused on social media, prepaid debit cards, BitGift TM, artificial intelligence, targeted marketing and consumer rewards.

Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.

For additional information, visit our website at www.Pennexx.net  or call 866-928-6409. We are also on Twitter @Pennexx.