EXCLUSIVE: Allezoe Condemns Unauthorized Stock Pumping (ALZM)

In 52 weeks, Allezoe has seen its price-per-share soar from $0.35 to $2.60, with analysts claiming that stock pumping is the primary reason for the rise. Many investors are wondering why, with so little changing at the company, the stocks have shot up so quickly. Allezoe reached out to Benzinga to explain its position. Allezoe Medical Holdings

spoke out to condemn a stock promotion program promoting common stock. Allezoe CEO and Chairman Michael Holder said in a press release that the program has “been initiated and is being maintained by unrelated parties without the involvement, knowledge, consent, or participation of the Company.” The Allezoe press release names Solstice Capital as a guilty party, stating that part of the promotion "appears to be based on a written ‘advertisement' being distributed to potential market investors which contains multiple outrageous and unfounded claims and assertions regarding Allezoe Medical Holdings and its subsidiary, Organ Transport Services. The advertisement also claims that all of the statements made regarding Allezoe have been "approved for public dissemination" by Solstice Capital, and that Solstice Capital paid for the advertisement "to provide public awareness for ALZM"." Speaking exclusively to Benzinga, Holder said that, although they identify Solstice in the press release, Allezoe does not know who is ultimately behind the promotion program. When asked why the company waited so long before condemning the apparent stock pumping, Holder said that “We actually responded very quickly once we were made aware of the promotional piece.” Holder explicitly denies Allezoe's part in any marketing campaign that could be misconstrued as stock pumping. “The senior management team at Organ Transport Systems, the wholly owned subsidiary and primary asset of Allezoe, has worked diligently since 2004 to get our LifeCradle organ preservation technology into the market to benefit transplant surgeons, patients and our greater healthcare system,” said Holder. “We take our fiduciary responsibilities to shareholders and other stakeholders very seriously. We are quite angry about the misinformation provided in the promotional piece not only because of its potential impact on investors, but also because it potentially compromises the trusted relationships and reputation that we have developed in the transplant community.”