Axesstel, Inc. (OTCMKTS:AXST) Investor Investigation Concerning Possible Securities Laws Violations

If you purchased shares of Axesstel, Inc. (OTCMKTS:AXST), you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Axesstel
Affected Securities: 
OTCMKTS: AXST

April 7, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Axesstel, Inc. (OTCMKTS:AXST) shares over potential securities laws violations by Axesstel, Inc. and certain of its directors and officers in connection certain financial statements was announced .

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Axesstel, Inc. (OTCMKTS:AXST) concerning whether a series of statements by Axesstel, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On June 13, 2013, Axesstel, Inc. provided a company update. Among other things, Axesstel, Inc. said that it was anticipating a weak 2013 second quarter “due to slower demand in Europe, product launches in Africa that were delayed to the second quarter as a result of minor warranty issues, and a slower than expected rollout of the Company’s new products in 2013.”

Axesstel, Inc. (OTCMKTS:AXST) reported that its annual Total Revenue rose from $54.13 million in 2012 to $59.66 million in 2012 and that its Net Income increased from $1.10 million to $4.31 million.

Shares of Axesstel, Inc. (OTCMKTS:AXST) grew from $0.069 per share in May 2011 to as high as $1.90 per share in early 2013.

On April 1, 2014, OTCMKTS:AXST shares closed at $0.100 per share.