Intelligent Systems says 'factual errors, erroneous conclusions' in short report
Intelligent Systems stated in a press release last night: "On May 24 and May 30, 2019, separate commentaries about Intelligent Systems Corporation were released by Aurelius Value and Grizzly Reports. The anonymous authors never contacted the company for clarifications or answers to any questions they may have. Had they done so, Intelligent Systems would have pointed out factual errors, incomplete information and erroneous conclusions which are rebutted by Intelligent Systems' public filings and other publicly available information...We believe it is in the best interest of our shareholders for management to remain focused on business rather than debating or responding to rumor and innuendo. However, due to the number of inquiries to the company, management believes it important to now respond to these misrepresentations. It is also important for interested parties to consider that the individuals responsible for the 'short and distort' reports have a financial interest in a decline in the company's stock price. We believe this calls into question the motivation and intent behind the allegations as well as the timing of its release." Intelligent Systems management plans to host an investor conference call on Wednesday June 5, 2019 at 11 am Eastern Time to discuss "corporate developments and to address the false and misleading statements and innuendo in the above-mentioned commentaries," the company noted.