SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nuvilex, Inc. (OTCQB: NVLX), is pleased to announce today it has fully migrated to the famous Over-the-Counter or “Open, Transparent, and Connected” Marketplace (OTC Markets Group Inc.), a place where broker-dealers decide securities to trade OTC, typically based on investor demand, that are not listed on a U.S. stock exchange. It is therefore exciting to inform our investors Nuvilex is listed on the world’s largest interdealer electronic quotation system: the OTCQB market tier and trading system. As a result, Nuvilex is no longer quoted on the OTC Pink Sheets and is now quoted exclusively on the OTCQB quotation platform (http://www.otcmarkets.com/stock/nvlx/quote) since we have become fully compliant with all SEC reporting requirements.
There are three tiers in the OTC Market Tier system according to the level of disclosure. The first is OTCQX, the quality-controlled marketplace for 178 companies meeting extremely rigorous financial standards. The second tier, OTCQB, is the U.S. Reporting marketplace tier where Nuvilex currently trades. There are 3,869 securities traded for companies within this tier who are required to keep current in their reporting requirements with either the U.S. Securities and Exchange Commission (SEC) or a U.S. banking or insurance regulator. Some OTCQB companies are also quoted on FINRA’s Bulletin Board (OTCBB) and approximately 20 company securities are traded exclusively on the OTCBB. The third tier is designated OTC Pink, which is the marketplace for speculative trading for 5,944 company securities. It has no requirements for financial standards or reporting.
Nuvilex Chairman, Patricia Gruden, commented on the upgrade to the OTCQB system stating, “Becoming fully reporting and current with our SEC filings was one of the primary goals set forth by the Board of Directors as it demonstrates our commitment to our shareholders to provide them with accurate and timely information about our company. Moving from the Pink Sheets to the OTCQB should provide investors with faster quotations and greater trading transparency while also attracting new investors that limit their portfolio to fully-reporting companies.”
As mentioned earlier, OTC Markets Group Inc. (OTCQX: OTCM) operates the leading electronic interdealer quotation and trading system and facilitates trading in over 10,000 securities not listed on a U.S. stock exchange. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity-trading venue, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange. Many market makers and broker-dealers are now exclusively using OTC Markets’ platform to quote and negotiate trades in OTC securities, regardless of their SEC reporting status.
In addition, Dr. Robert Ryan, the President and Chief Executive Officer noted, “As a result of the extremely patient, persistent and continuous efforts of Patricia Gruden, our Board Chairman and CFO, Nuvilex has been returned to its previous fully reporting status. Furthermore, this effort has been recognized by the OTC Markets through the newly updated listing on the OTCQB. It is a pleasure to be working alongside her as together we continue to expand and move Nuvilex forward, building a solid foundation from which to advance our company and products. It is a fantastic opportunity to be traded on the OTCQB, allowing us to concurrently increase investor confidence and the value of Nuvilex.”
About Nuvilex, Inc.
Nuvilex, Inc. is a green products company specializing in the development of biotech technology and products. The Company’s current products include Cinnergen™, which promotes a healthy glucose metabolism; Cinnechol™, designed to help balance triglycerides and support cardiovascular function; Oraphyte™, an all-natural nematocide product line, highly effective in combating nematodes harmful to grass and plant growth; Citroxin™, a safe, non-toxic, all-natural product line capable of killing bacteria, virus, and fungus, even including Avian Flu and MRSA (Methicillin-resistant Staphylococcus aureus); Reme-Flu™, a unique, two-part homeopathic medicine for preventing and treating symptoms of flu manufactured by Legacy Biotechnologies, Inc.; Talsyn™, a unique, all natural Lipid-Peptide combination of ingredients used for the management of keloids, hypertrophic scars, erythema and surgical incisions; and Infinitink®, a permanent, yet more easily removable, tattoo ink.
Shareholders and all persons interested in monitoring the progress of our company as we move forward are encouraged to subscribe to the electronic mailing list by submitting their email address to investors@nuvilex.com.