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AmbiCom's CEO Responds to SEC order of Suspension of Trading

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SANTA CRUZ, Calif., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Trading in shares of AmbiCom Holdings, Inc. (USOTCPS:ABHI) have been temporarily suspended due to an order of suspension of trading issued by the Securities and Exchange Commission as of today's date.

The temporary trading suspension is valid through 11:59 pm EST on January 30, 2018.

The temporary suspension order states that on August 10, 2017 a delinquency letter was sent to AmbiCom Holdings Inc's corporate address in Norridge, Illinois. When this delinquency letter was returned to the SEC, actions were undertaken, leading to the temporary suspension.

Kevin Cornell, AmbiCom's CEO, stated: "It would seem that when the SEC delinquency letter was sent to Alain Lewand, our previous CEO, in August of 2017 at his Norridge, Illinois offices, he was unavailable to receive it or refused acceptance of the letter.  At the time, Alain was the CEO and a member of AmbiCom Board of Directors. The Norridge, Illinois office was at that time listed in SEC documents as the valid address for AmbiCom. No other board members of AmbiCom at the time or since, and no current management of AmbiCom, were made aware by Alain that this letter existed. We will escalate our current actions to file all necessary documents to lift this suspension and become current with our obligations."

About AmbiCom Holdings, Inc.

AmbiCom Holdings Inc., headquartered in Santa Cruz, California, searches out, acquires and/or invests in unique technologies that have the potential for wide adoption in large markets. 

AmbiCom looks for mature management teams that have a history of successfully converting new concepts into products.

Of particular interest are high margin products that have the ability to enhance user's experience while generating a positive return on investment.

We are acutely aware of our responsibility to the investors that have placed their trust in our abilities to effectively manage the assets of AmbiCom on their behalf.

For more information, visit  www.AmbiCom.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Contacts
Paul McGee
AmbiCom Holdings, Inc.
pmcgee@ambicom.com
(408) 757-0715

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