Business & Finance
Business and Finance
Business and Finance
Thu, March 10, 2011 AmbiCom Migrates to OTC Link Platform, Electronic OTC Marketplace for Broker-Dealers
MILPITAS, CA--(Marketwire - March 10, 2011) - AmbiCom Holdings (
John Hwang, Chairman and CEO of AmbiCom commented, "We believe that this migration provides our shareholders with far more visibility and information on the common stock of AmbiCom and sets the stage for our ultimate objective of being listed on a major exchange in the future."
OTC Markets Group has been a leader in using technology to bring positive changes to the OTC marketplace for the benefit of investors, as well as broker-dealers and OTC-traded companies. OTC Markets' electronic interdealer quotation and trading system ("OTC Link") has become one of the leading OTC quotation platforms in the U.S. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange.
There has been a significant migration of brokers from the OTCBB quotation system to the OTC Link quotation system. According to [ www.otcmarkets.com ], in the past 30 calendar days, there have been 818 publicly traded companies, including AmbiCom, that have moved from being dually quoted on the OTCBB and OTC Link to being quoted exclusively on the OTC Link platform. As of the end of last week, prices quoted published on OTC Link accounted for 95% of priced quotes in the OTC marketplace. This movement shows brokers' continued support of the electronic OTC Link system, as they migrate to quote exclusively on this platform.
About OTC Markets Group, Inc.
OTC Markets Group, Inc. operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity-trading venue, after NASDAQ and NYSE. OTC Markets Group, Inc. categorizes the wide spectrum of OTC-traded companies into three tiers -- OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB (the U.S. reporting company marketplace for development stage companies) and OTC Pink (the speculative trading marketplace) -- so investors can identify the level and quality of information the companies provide. To learn more about how OTC Markets Group, Inc. makes the unlisted markets more transparent, informed and efficient, visit [ www.otcmarkets.com ].
About AmbiCom
AmbiCom is headquartered in Milpitas, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value.
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 the 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 generate sufficient market acceptance for our shipping products and services, our inability 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 the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on November 13, 2007, 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.
