Worksport .(US:WKSP) Newsfileยท2024-11-21 13:29Core Viewpoint - Worksport Ltd. is addressing unusual trading activity and potential illegal short selling while highlighting strong growth prospects and upcoming product releases. The CEO has shown confidence by purchasing shares at a significant premium to the market price [2][3][4]. Company Actions - Worksport has engaged Digital BD, Inc. to monitor and investigate short selling activities, aiming to safeguard shareholder value and address unusual trading patterns [3][5]. - Digital BD will analyze daily short volume data and ensure compliance with fair market practices as mandated by Regulation SHO [5][6]. Financial Performance - In Q3 2024, Worksport reported revenue of $3.12 million, marking a 581% increase year-over-year from $458,433 in Q3 2023 [9]. - The company projects revenues in 2025 that will exceed its entire market capitalization as of the previous day [4]. CEO Commentary - CEO Steven Rossi emphasized that recent stock trading does not reflect the company's health, citing record sales and upcoming innovative products [4][8]. - Rossi's personal share purchase at a 44% premium underscores his confidence in the company's future [3][4]. Monitoring and Compliance - Digital BD will provide insights into market maker activities and ensure adherence to fair market-making requirements, scrutinizing trading patterns for compliance [6][7]. - The collaboration aims to identify sources of short sale activities and protect the interests of shareholders [7][8].