Provides the following letter to its shareholders from its Chairman Boris Molchadsky:
"I am pleased with the progress AppYea/SleepX has been making this year. As part of the long terms objective, AppYea Inc. (OTCPINK: APYP) took the initial step to advance the prospects of the Company. As disclosed in our quarterly report yesterday to the OTC for the recently completed fiscal quarter, the reverse stock split, for which we are awaiting FINRA approval, is a proactive measure that we believe will better position us for success, and ultimately generate value for all of the Company’s stockholders. The ultimate aim is to raise our stock’s visibility within the investment community by improving long-term liquidity and creating a trading environment attractive to institutional investors in the hopes of broadening our shareholders. We are confident of the prospects of the anticipated commercialization of the SleepX DreamIT X3 in 2022".
Mr. Molchadsky continued: “In conjunction with the corporate actions, AppYea has secured funding sources who we believe will asist the Company to restructure prior highly dilutive debt and providing the necessary capital to enable the Company to move forward on several fronts, including:
1. Closing of the merger between AppYea and SleepX—we are awaiting the required necessary regulatory approvals.
2. Completion of development and commencement of manufacturing the first product for snoring treatment.
SleepX intends to start a pilot in December with a leading hardware manufacturer after withstanding the Company's endurance tests.
3. Preparation for starting clinical trials of the product for the treatment of Sleep Apnea.
4. Locating and acquiring synergetic technologies and broadening products variety in the sleeping and respiration field.
Looking ahead, the primary focus of the Company is to ensure the long-term success of the Company by acting in the best interest of all of our shareholders.
Thank you for your continued support and patience”.
Legal Notice Regarding Forward-Looking Statements
This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein. No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. Although APYP believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, unanticipated losses, financial condition and stock price, inability to carry out research, development and commercialization plans and other specific risks. APYP does not undertake any obligation to publicly update any forward-looking statement. Neither APYP nor SLEEPX are subject to the reporting requirements of the Securities and Exchange Commission under the Securities and Exchange Act of 1934 as amended.