FNDS3000 Corp Comments on Change of Stock Quotation Coverage on OTCBB and OTCQB Trading Platforms
FNDS3000 Corp (OTCQB: FDTC), an international prepaid processing company currently introducing electronic payment solutions to the South African market, today commented on the change in the Company's stock quotation coverage which previously reflected trading on both the OTC Bulletin Board and the OTCQB under the symbol "FDTC," but now is reflected only on the OTCQB. The change in coverage to strictly the OTCQB trading platform was caused by the migration of the Company's market makers away from the OTCBB, and does not affect, nor is it a reflection upon, FNDS3000's business, operations or growth prospects.
The OTCQB is one of three tiers established by OTC Markets Group, Inc., which operates one of the world's largest electronic interdealer quotation systems for broker-dealers to trade securities not listed on a national exchange. The OTCQB designation is meant to identify companies that are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations.
Joe McGuire Chief Financial Officer of FNDS3000, stated, "We have learned that there is no technical difference between an OTCBB listed security and a fully reporting issuer trading on the OTCQB. Therefore, until such time as our Company elects to pursue a listing on a major exchange, our common stock will be quoted on the OTCQB, which can be viewed at www.otcmarkets.com."
